Iowa basketball star Luka Garza is launching his own NFT group to help collegiate students to monetize their Name, Image, and Likeness (NIL). Debates have grown over the last couple years about collegiate athletes and their ability to make money off their names such as on jersey sales and video games.
— Luka Garza ✞ (@LukaG_55) April 27, 2021
Thank you @GottliebShow & @FoxSportsRadio for having Luka. #Hawkeyes, 55 has launched the, https://t.co/oObvbkBklG to assist college students, athletes, artists, & musicians to optimize her or his NIL starting 7.1.2021 in the States where it’s approved. https://t.co/Q9fUiYSS8C pic.twitter.com/MGIklb0OQx
— Frank Garza (@frankgarza57) April 27, 2021
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In a recent interview with TMZ Sports, Garza stated that; “I think that’s the biggest draw to it is for the NCAA, we’re creating a new revenue stream that we don’t have to take away. We won’t have to get a salary from the university.”
You can view the whole project and sign up to join a waiting list here.
Knowing the NCAA and their never ending list of rules, it seems likely that we see some backlash from them in the coming months. Luckily for Garza, he has no eligibility left and plans to have a long career in the NBA. Garza added that; “We won’t have to bother any of the advertisement deals they already have or the TV contract they have. That’s still theirs but this is a way that we can make money for ourselves with not even touching the NCAA’s money and what they’ve been able to do.”
This seems like just the tip of the iceberg for NFTs. This ‘new’ collectible has been growing in mass popularity over the last couple months with many famous athletes and stars joining in on the trend.
Luka Garza’s first NFT which was a collection of his highlights at Iowa was sold in April for $41,141. The winner of the auction also received a game-worn shoes, a private meditation session with Garza, a chance to play a game of H.O.R.S.E with him, a lifetime VIP pass to any basketball camp hosted by the Hawkeye, and the opportunity to attend dinner and a movie with the 22 year-old, according Bleacher Report. The money raised went to benefit the Children’s Hospital at the University of Iowa.