Athletes and entertainers can now monetize their personal brand through Name, Image, and Likeness (NIL) rights and Non-Fungible Tokens (NFTs) in the digital age. This allows them to have more income streams beyond traditional endorsements. NFTs, which are unique digital assets that exist on a blockchain, can be used by athletes to monetize their NIL rights in innovative ways. Although there are challenges to overcome, the combination of NIL rights and NFTs presents an exciting new opportunity for athletes and entertainers to take control of their personal brand and connect with fans in unique ways. Other tech players can capitalize on this growing trend as Meta missed the opportunity in abandoning NFTs.
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