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Today, most NIL deals take place in dark rooms where only top boosters and brands get access. Nilli is about unleashing fans to directly show love to their favorite players, without having to deal with complex legal paperwork, uncertain NCAA compliance, and expensive bank transfers.
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A crowd contract is a contract offer to a player from an entire fanbase. If the player does not fulfill the conditions of the contract offer (such as playing another year for the team), then each fan will be automatically refunded their stake.
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As part of the process of claiming their contract, players issue an NFT to all of the contract’s fans. This digital asset may function as a digital “rookie card” that can be sold on markets like OpenSea or it may even be a pass that players recognize to drop merch to top fans. There are no standards – it is all up to each player’s imagination.
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No! it is always possible to sign a contract without contributing to it. This lets you become part of the movement for your players and team, even if you are short on funds. In fact, some contracts (like those for high school recruits) are entirely non-monetary, and just about showing more love than the competition.
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NIL is extremely new, and the NCAA rules are constantly changing and being re-interpreted. Because the NCAA is not a governmental entity, it can only punish people within their bubble. Fans are not in the NCAA’s bubble, so the concern is how it can impact athletic programs. Since a Nilli crowd contract is simply a digital agreement between a fan and a player – schools, coaches, etc are not involved. As for players, if they are ever worried about an NCAA rule, they do not have to claim their funds at that moment, even if they have been unlocked. They can wait until NCAA rules are clear, or even for when they are past their NCAA eligibility, playing it as safe as they want.
View Nilli Docs for more FAQs
SHOW RECRUITS LOVE.
KEEP STAR PLAYERS.
COUNTER PRO OFFERS.
BEAT THE PORTAL.
SHOW RECRUITS LOVE. KEEP STAR PLAYERS. COUNTER PRO OFFERS. BEAT THE PORTAL.
🔏 CROWD CONTRACTS
Create fan contracts that compete with pro offers and the portal.
🏆 FAN RANKINGS
Boosters, brands, and fans can finally win recognition.
🔥 CAMPAIGN TOOLKIT
Everything you need to make your fan movement go viral.
Smart Contract Technology
Nilli contracts are powered by Ethereum
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Programmable contracts
Make strong offers to your target players with zero risk of loss
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Publicly deployed
Incentivized sharing enables the entire fanbase to join your movement
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Contribution liquidity
In addition to dollars, accept your fans’ Bitcoin and Ethereum tokens as contributions
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Anyone can use Nilli’s tools to launch a crowd contract. It is entirely permissionless. If you partner with Nilli, we can verify the best practices of your contract construction so that fans can have maximal trust.
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The contract length and expiration is entirely determined by the contract creator. For example, in a contract for a player to come back for football in the 2023 season, the contract may be set to expire as soon as a player is officially enrolled on another NCAA roster or an NFL roster. All expirations will be clearly listed on the Nilli platform.
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As soon as the refund condition of a contract is met (for example, a player is listed on an NFL roster), the smart contract technology will automatically send the full amount back to each fan’s Nilli wallet. Fans can then use Nilli to convert and send those digital funds to a bank account of their choice.
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Every contract has a listed “Target” – this amount is determined by the contract creator. It may be a set amount, or it may be automatically calculated by Nilli to surpass a pro offer. For example, if a player is expected to be a mid 2nd round pick, the target may be their projected rookie salary of $1.4 (NFL) or $900K (NBA).
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Nilli crowd contracts are not controlled by Nilli or any other people who can run away with your money or change their mind based on NCAA rules. As an Ethereum smart contract, the locking, unlocking, and refunding of the funds are all managed by unbreakable, irreversible code.
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The heart of any successful crowd contract is a super passionate fanbase who loves a certain player or cause. Nilli provides tools to make the growth process as powerful as possible: an easy and clear payment onramp; ranking and recognition to top contributors and sharers; digital advertisements; and more. Ultimately, the creativity of each movement to get the word out will be the difference-maker.
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Nilli crowd contracts run on smart contract technology. This means that not only digital versions of dollars, but other digital assets like Ethereum, Bitcoin, and NFTs can be staked to a players crowd contract! Besides allowing more fans to get involved, this creates a nice diversified portfolio for players who are increasingly interested in cutting-edge forms of assets.
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