VIENNA, Va., Aug. 24, 2022 (GLOBE NEWSWIRE) — McFadyen Digital, the leading global strategy and implementation agency for e-commerce marketplaces, announces Varsity Gems, the NFT NIL marketplace for Division I, Division II and Division III athletes, broadcast live on Friday.
Varsity Gems allows collegiate student-athletes to take advantage of the Name, Image, and Likeness (NIL) rules by allowing alumni, boosters, investors and fans to purchase Non-Fungible Tokens (NFTs) related to student-athletes. Athletes who sell NFTs with Varsity Gems earn 75% of NFT sales from the platform.
Ferris State University, Wayne State University and Western Michigan University, among many others, all have athletes benefiting from the NFT platform with dozens more announcements to come.
Thomas Coke, CEO of Varsity Gems, said the participating universities will send “Instagram-worthy” high-quality photos for what he calls “digital trading cards.” These are then posted on Varsity Gems after the player signs a contract. The NFTs can then be purchased via a crypto wallet or a debit/credit card.
“While Division-I athletes get most of the spotlight, Varsity Gems’ goal is to highlight student-athletes in D-II and D-III schools and allow them to earn a piece of the NIL pie,” Coke said. “Varsity Gems is a centralized platform that brings together all signed athletes in one centralized location so fans, boosters and alumni can support their alma mater.”
Coke said McFadyen Digital was a key partner in this project because of its expertise and experience in building marketplaces, platforms and digital strategies.
“The digital goods and services marketplace has exploded, and McFadyen Digital was excited to lend its expertise to the growing NFT community,” said McFadyen Digital CEO Tom McFadyen. “Incorporating the new NIL incentive into an NFT marketplace, especially one that is centralized with minimal risk, presents great opportunities for student-athletes, fans, schools, alumni, conferences and other parties in the college sports ecosystem.”
A virtual live event launching the Varsity Gems Marketplace will take place on Thursday, August 25. Registration is open to all at no cost. For more information on Varsity Gems, please visit:
About McFadyen Digital
McFadyen Digital is the leading global e-commerce marketplace strategy and implementation agency. We create award-winning digital shopping experiences for the world’s most prominent brands. Our clients seek to delight their customers with memorable online shopping experiences that scale, and we deliver these results on time and on budget. With over two decades of experience in large enterprise commerce projects, our strategy, technology, design and ongoing innovation services delivered from our offices in the US, Brazil and India deliver scalable and repeatable results.
Over 20+ years of global delivery, McFadyen Digital has optimized the quality, cost and timeframe benefits of onshore, nearshore and offshore team collaboration. We are honored to have enabled digital commerce and marketplaces for 10% of the Fortune 500 and hundreds of mid-market companies. For more information, visit www.mcfadyen.com, connect with us on LinkedIn or follow us on Twitter.
Media contact:
Mike Albanese
[email protected]
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