- Insider is creating a list of the top NIL startups shaping the two-year-old industry.
- Our last list in 2021 highlighted companies including Opendorse and MOGL.
Most deals with student-athletes were small immediately following the 2021 Supreme Court decision to allow college athletes to profit from their name, image, and likeness, or NIL.
Players signed deals with local businesses and other companies, started making money on Instagram and TikTok like other influencers, and celebrated an extra income source amidst their busy schedules.
Two years later, the estimated $1 billion industry looks different.
More than 20 student-athletes have NIL valuations upwards of $1 million, according to data from On3.
Collectives, or groups funded by alumni and athletic-department boosters who provide NIL opportunities they hope will translate to on-the-field success, have become an essential part of the industry. These collectives were "hush-hush" even just a year ago, Braly Keller of NIL marketplace Opendorse told Insider. Now, around 80% of all NIL deals go through collectives, per Opendorse data.
Regulation could also shake up the space. Three different groups of members of Congress in late July proposed NIL legislation within a week of one another.
Insider compiled in 2021 a list of 13 top companies at the forefront of NIL. Now, we're looking to update our findings and highlight in a new list the most influential and innovative companies and startups helping student-athletes get NIL deals.
We want to hear your thoughts. Please submit nominations for the list through this form (or below) by August 10: