The NFL Alumni Association has entered into a partnership with Aventus, a firm operating on the Polkadot parachain, to open up new revenue streams for retired NFL players, including the creation of NFT collectibles for fans. This collaboration aims to leverage the name, image, and likeness of retired players who choose to participate in the offering. The NFL Alumni Association is a nonprofit organization linked to the National Football League (NFL) but independently operated.
NFL Alumni Association reveals details of the deal
The association represents thousands of former players, coaches, front office executives, spouses, and cheerleaders. The organization provides support to former pro players through benefits such as discounts on travel, healthcare, legal representation, and opportunities like speaking engagements. Brad Edwards, CEO of NFL Alumni and a former NFL safety who played nine seasons from 1988 to 1996, sees NFT collectibles as an evolution of athletes monetizing their memorabilia and traditional trading cards by selling them to fans.
He highlighted a common issue in the physical memorabilia market where players sign items that are later resold on the secondary market without the player receiving any rights or rewards. Edwards expressed that blockchain technologies, with their capabilities for authentication, protection, and ownership, offer a solution to this problem. The partnership with Aventus aims to address these issues by creating NFTs that represent on-field moments from retired players’ careers. For example, an NFT of Brad Edwards might capture his memorable two-interception game in Super Bowl XXVI against the Buffalo Bills.
Fans who collect these NFT tokens will gain access to various benefits, including signed physical merchandise, “metaverse-based” experiences, video content from retired players, and the opportunity to participate in decisions related to future NFT drops. Edwards anticipates that approximately 50 to 100 players will participate in an upcoming NFL Alumni function in Dallas, where they will begin the process of onboarding players interested in creating collectibles for the NFL Alumni Association’s new marketplace with Aventus.
He also noted that a significant portion of the revenue from typical NFL Alumni deals, sometimes as much as 70%, goes back to the players. The NFL has already ventured into the world of NFTs through various partnerships. Dapper Labs introduced NFL All Day in collaboration with the league, creating a marketplace for video-based digital collectibles featuring active players. Mythical Games also incorporated NFL players into its NFT-backed mobile football game, NFL Rivals.
NFTs as a lifeline for former NFL players
DraftKings also established a partnership with the NFL Players Association (though not with the league itself) to launch an NFT-based fantasy football game with cash prizes. The NFL remains a dominant force in American television, accounting for 82 of the 100 most-watched U.S. television broadcasts in 2022. The league’s game broadcasts and programming frequently feature former players as commentators and analysts, which is expected to boost the demand for their collectibles.
The continued popularity of former players turned broadcasters, such as Peyton and Eli Manning, who broadcast “Monday Night Football” games on ESPN together, demonstrates this trend. The Manning brothers launched their own NFT artwork series in April 2021, and Peyton also invested in sports and entertainment NFT startup Candy Digital later the same year. Another legendary NFL player, Tom Brady, who is widely regarded as one of the greatest of all time, has signed a contract to become a TV commentator for NFL games on Fox Sports starting in 2024.
Brady co-founded his NFT startup called Autograph, which raised $170 million in early 2022 while partnering with the PGA Tour, ESPN, and DraftKings. However, while these high-profile legends have relatively straightforward paths to post-career success and prominence, there are thousands of former players who may not have secured lucrative positions after their football careers. These players often require support, and the NFL Alumni Association believes that NFTs can help these individuals benefit from their legacy.
According to Edwards, there is a significant market for the Hall of Fame and top-tier athletes, but the organization’s primary focus is on players who may not have enjoyed the same level of stardom. Many of these players may have only spent a year or two in training camp, making their journey in the NFL more meteoric than stellar. The NFL Alumni Association aims to serve these players by harnessing the potential of NFTs to provide them with new opportunities and financial support.
