One of the things Michigan... errr... one of the NIL "opportunities" Michigan players have seen... and others are doing...
They create an NFT with a players image. Almost like a Sports Card. Then, they sell those NFTs to fans, friends, companies.
It is a complicated process, but it is a way scale income.
Say, you have 100 NFTs of your likeness and you sell them for $100 each. Boom. $10K.
Say, you have 1,000 NFTs of your likeness and you sell them for $100 each. Boom. $100K.
Do you think A&M players with an NFT likeness, could find 1,000 fans to pony up $100 for an "exclusive football card?!"
If you thought a player was Heisman caliber... would fans pay $1,000 on the chance the player wins the Heisman and the NFT is now worth $10K?!
If you don't know what an NFT is... look it up.