BallerTV has unveiled a high school basketball NFT collection. It’s the first time non-fungibles and amateur sports have met at scale, but we don’t expect it to be the last.
The freshly minted set features hoop dreaming hopefuls who participated in the 2021 Pangos All-American Camp, which ended early-June. The event sees 120 future ball stars compete in four games across three days. Moving to Las Vegas from Southern California for 2021, the BallerTV x Pangos NFTs feature highlights from the competition.
30 of the best athletes from the camp have turned non-fungible for the new drop, with all tokens linked to players from the camp’s closing All-Star Game. The NFTs include footage from their on-court performances, and players keep 50% of the revenue generated. There is also an option to donate this to charity, offering an ‘out’ if colleges do not allow private revenue options.
The Need for a High School Basketball NFT Collection
The BallerTV x Pangos NFT collection represents a huge leap forward in terms of non-fungibles in sport. Effectively this gives aspiring athletes a new revenue stream that can be used to cover huge fees associated with the US college system. This is big news. Until recently, the NCAA (National College Athletic Association) prevented any college players making money. This is despite universities themselves making millions from sports. Many people believe the situation creates a huge obstacle for those from disadvantaged backgrounds.
Although there has been no clear decision to change the rules, several colleges have adapted their own policies. The NCAA itself was voting on the subject back in January, but this was then delayed. According to Market Watch, a letter from the Department of Justice suggested allowing athletes to engage in brand deals could break antitrust laws. There are also major concern that institute-level sponsorship could conflict individual player deals.
And a bit on BallerTV
If you’re not based in the US then BallerTV is pretty easy to explain. The streaming service specialises in youth and amateur sports, helping platform rising players to a huge audience. The company’s estimated revenue is $35.1million per year, indicative of just how big high school and college sports are in the States. Overall the sports world has been highly active within the NFT space, from WePlay’s Esports tokens to Premier League football team drops from teams including Manchester City.
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