The Kentucky Basketball team just landed its biggest Name, Image, Likeness (NIL) deal yet. The players are partnering with West Realm Shires Services Inc. to be ambassadors of FTX US, a US-regulated cryptocurrency exchange. The NIL sponsorship is part of the brand’s FTX Champions program. Each Kentucky player will be compensated individually each month in USD on FTX debit cards. The players also have the individual opportunity to create nonfungible tokens (NFTs) on the FTX NFT marketplace. Each player will receive most of the revenue on the sale of their individual NFTs.
“We’re thrilled to work with players from one of the most successful collegiate basketball programs in the country,” said Avi Dabir, Vice President of Business Development at FTX.