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Today, NIL deals are run by a small number of boosters and brands in back rooms. With Nilli, fanbases can directly offer crowd contracts to their favorite players – all without having to figure out complex legal paperwork, evolving 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 signing their crowd contract offer, players issue an NFT to all of the contract’s fans. This digital asset might evolve into a certified digital “rookie card” that can be sold on marketplaces like OpenSea or a pass that players can use 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 crowd contract without contributing money 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, so the NCAA rules are still emerging and changing everyday. Nilli is therefore constructed to give players maximum flexibility. Specifically, even when a player’s contract unlocks, they do not need to actually touch any funds until they are certain it is 100% safe.
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 CONTRACTSFan contracts that compete with pro offers and the portal.
🏆 FAN RANKINGSBoosters, brands, and fans can finally win recognition.
⚙️ CAMPAIGN TOOLKITEverything you need to take your movement viral.
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Programmable contracts
Make strong offers with even stronger protections
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Publicly deployed
Allow your entire fanbase to get in on your movement
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Increased liquidity
In addition to dollars, easily accept fans’ Bitcoin and Ethereum tokens
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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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Anyone can use Nilli’s tools to launch a crowd contract. It is entirely permissionless. However, if you would like to verify for fans that you’ve used best practices in your contract , you may want to partner with Nilli.
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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 expiration conditions 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 refund 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, which is determined by the contract creator. This may be a set amount, or it may be 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 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.
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Crowd contracts are powered by blockchain 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 be involved, this produces a diversified portfolio for players who are increasingly interested in cutting-edge forms of assets.
