Part Two – NCAA Athletes start printing the NIL (Name Image Likeness) Dollars! 💵💰💵🤑
More on What We Know, The Dope Idea, and The Brand Execution.
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* We break down the new market indicators & behavioral consumer trends we're tracking, then figure out the unlock to growth & revenue.
ICYMI in the last 10 weeks we covered:
THIS WEEK’S DOPE NEW STARTUP IDEA COVERS:
* NCAA + TikTok + Cameo + NIL Rights 🔥
** Catch-up on all our research & findings in Part One here:
WHAT WE KNOW:
* The Market Indicators & Behavioral Consumer Trends we've identified.
>> [ TikTok makes a huge bet on Shoutouts! ]
- thanks nadeem! https://twitter.com/nsnadeemsarwar
Creators with access to the Shoutouts feature will likely be able to prominently advertise it on their profile page or even posts. At this point, there is no concrete information about the criteria for using Shoutouts.
However, TikTok will likely use metrics such as the number of followers to gauge the ‘influence index’ or popularity, and will accordingly grant the ability to make custom videos for fans.
With Shoutouts, TikTok appears to be going after Cameo - the biggest name in the domain. Cameo offers a rich selection of renowned names from the film and music industry, athletes, comedians, and even politicians who can make a greeting or pep-talk video for a price.
Cameo has even introduced a one-on-one calling feature to help boost its appeal, but TikTok's massive engagement among the young could help skyrocket the popularity of Shoutouts in no time.
>> [ the big money NIL game is just getting started! ]
- thanks the athletic! https://twitter.com/TheAthletic
College athletes in all states are now able to receive compensation for their names, images and likenesses following an interim policy that went into effect July 1. The next day, [Bryce] Young signed with Creative Artists Agency to work with him on his marketing deals.
Alabama sophomore quarterback Bryce Young has yet to start a game for the Crimson Tide, but according to coach Nick Saban, he's already raking in nearly $1 million in deals under the new name, image and likeness (NIL) policy.
>> [ NCAA athletes are all piling in! ]
- thanks michael! https://twitter.com/ByCasagrande
There are a few early observations of note.
Several are on Cameo, a site/app that allows fans to request personalized video messages for a fee. It’s one of the few deals in the NLI era where the actual dollar figure going to the athlete is known.
Multiple published reports state Cameo gets 25% of the transaction so, for example, Alabama softball star Montana Fouts would get 75% of the fee that starts at $55 for a 2-to-7-day delivery. Pay an extra $27.50 and the video will arrive in 24 hours. Her base price jumped from $29 to $55 within a day of joining and four users posted reviews in the first 24 hours she’s been on Cameo.
A handful of other football players are on JenLoop, a similar service where users can pay celebrities to post a personalized message from their social media accounts that often come with large followings. New Alabama linebacker Henry To’o To’o, for example, is charging $45 for a post on his Instagram page with 23,000-plus followers or $25 for an Instagram story that appears 24 hours.
THE DOPE IDEA:
* Distilling the market indicators & consumer tailwinds into a dope idea.
When it comes to apps & platforms that are already built into the cultural convention of everyday behavior — especially when that starts with Gen Z and extends deep into Millennials and Gen X — you’re coming to market with a huge advantage.
Making TikToks, sending Cameos is already built into people’s digital DNA.
It’s this preconditioned notion of "zero work" which is truly brilliant, and most beneficial to attracting the cohort of college athletes that are looking to build & monetize their brand presence.
The dope idea here would be to create an AMA app tailored to NCAA athletes.
Any currently active NCAA athlete could jump onto the platform and in just 15 seconds, to 60 seconds, to 3 minutes of their time give their unique insight into everything from their personal training regimens, sleep cycles, diets, and more — and be compensated with a bit of cash while doing it.
It’s a win-win for both the athlete and the user. For an aspiring basketball player, learning from an actual athlete on an NCAA team could not only be useful in their basketball athlete path, but could also be a great source of inspiration as well.
That said, a potentially bigger idea would be to start measuring, managing, and leveraging all the data that is generated from these one-on-one experiences between the athletes and the users.
The dope idea here would be to create a NIL Brand IP calculator — to create a measurable history of rich data points across an NCAA athlete’s career that could be used in any major negotiation around a professional brand sponsorship deal.
What’s great about the lifting of these old school NIL rules that have governed the NCAA for years, is the freedom to how much more an athlete can now build up and manage their own personal Brand IP, long before ever exiting the NCAA to go PRO.
Just think if a Steph Curry or a Kawhi Leonard had started managing their own Brand IP right from their NCAA days….
The average NCAA athlete would have 4 years of solid data built around their Brand IP — 8 years if they played all through high school — that they could then bring to the table and leverage during a negotiation when the Nikes of the world come knocking on their door to cut a deal.
THE BRAND EXECUTION:
* Taking the idea & amplifying that into tactical action. Development of the Brand IP, securing a legit Domain Name, then making it Internet LIVE.
Etymology, Insights, and Cultural Inspo behind the naming of: BIG FACE GENIUS
So why the name BIG FACE GENIUS?
The name BIG FACE GENIUS gets its inspo directly from the world of sports — but more specifically on how sports fans when attending games in person show their support by propping up BIG FACE cutouts of their favorite players’ faces from the stands.
If you’re unfamiliar, these are those large oversized photo cutouts of just the players’ faces, which are typically mounted onto a cardboard or foam-core backing in order to give it some sturdiness and to keep it from folding back on itself.
It’s as simple as that! Let’s go!
Check out BIG FACE GENIUS here!
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** Thank you 3000! 🤟
* Know someone who’d like to work on one of these ideas? Let us know! 🍻
** Just email us at: venture@5dollarVC.com
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