Kentucky basketball gives new meaning to ‘transition game’ with new NIL deal
Thanks to a name, image and likeness deal announced Thursday, Kentucky basketball will give new meaning to transition game.
The NIL deal will allow fans to buy digital products — or NFTs (non-fungible tokens) — tied to UK basketball.
“This is just a sports memorabilia market making the transition from the physical world to the digital word,” said Porter Grieve, the CEO of Mercury, the company that will go into business with Kentucky basketball.
The deal is with UK Coach John Calipari and 11 Kentucky players: Dontaie Allen, Sahvir Wheeler, Kellan Grady, Jacob Toppin, Keion Brooks, Lance Ware, Bryce Hopkins, CJ Fredrick, Daimion Collins, Davion Mintz and TyTy Washington. As an international player, Oscar Tshiebwe is not allowed to profit off his name, image and likeness.
Pre-registration for digital items began Thursday, Grieve said. The first digital items available for purchase on the platform are scheduled to be posted on Dec. 18, the date Kentucky plays a high-profile game against Ohio State in Las Vegas. Early registrants will receive a free NFT for signing up.
The platform to be used will be called UK Blue Chips. Fans can buy digital items at ukbluechips.io.
Purchases on ukbluechips.io can be made with standard methods of payments in addition to crypto currency, the news release said.
When asked what type of items would be available, Grieve mentioned digital player cards and digital sneakers. When asked about the cost of items, Grieve said the “first few drops” would be in “the $20 range.” Future unique items “could go for significantly higher prices,” he said.
Grieve did not say exactly how lucrative the deal could be for a UK player.
“We think this is a really, really strong and good and safe opportunity for players to leverage their NIL rights,” he said. “And, you know, make some money off the court in this new era. And it’s done in a way we think is organic, that’s exciting and that fans are going to be excited.”
The possible profit “over time is pretty significant for players,” Grieve said.
Last month, Mercury announced a long-term partnership with Impossible Brief, the London-based multi-disciplinary design and production studio that has created NFTs for such notable athletes as Patrick Mahomes, Lionel Messi, Fernando Tatis Jr. and Alex Ovechkin.
“I am excited to enter the digital collectibles space with Mercury and especially pleased at the chance this presents for me to connect with our fans,” Calipari said in a news release. “This is a unique opportunity to create collectibles that resonate with Big Blue Nation and the very folks who make this community so special.”
Mintz was quoted in the release as saying he was well acquainted with digital memorabilia.
“I’ve been fascinated with NFTs and truly believe they’ll play a big part in the future of sports and entertainment,” he said. “I look forward to shaping my image, working directly on the design and branding, and hopefully developing collectibles that empower others.”
Kentucky basketball is the first college athletics program to go into NIL partnership with Mercury, Grieve said. Others will be announced “in the near future,” he added.
When asked why Kentucky was first, Grieve said it was “one of the most iconic and winningest organizations in all of college sports. And Coach Cal runs a very special program. The community and fan base around it are so powerful and rabid.
“It was a no-brainer when we got the opportunity.”
More information is available at www.mercurynft.io.
