Last week, Opendorse announced a first-of-its-kind licensed school NIL marketplace for Oregon, and today it’s announcing it will create a school-specific marketplace for every premium university customer on its roster at no additional cost.
“School-specific marketplaces will elevate the NIL landscape,” said Opendorse CEO Blake Lawrence. “Colleges with an Opendorse-powered marketplace will show their fan base where to go, who they can work with, and what it costs. In effect, they will empower their athletes with the world’s best solution to pursue their financial freedom. Starting today, it’s no longer a question of if every D-I school has its own marketplace, but when.”
School-specific marketplaces provide a streamlined point of access to discover and manage NIL activities, which can mobilize fan bases and local organizations while offering compliant opportunities to student athletes. Fans, brands, sponsors and donors will have a single place to find their favorite athletes, offer deals, and complete payments through the Opendorse platform.
These marketplaces are also meant to make the experience easier for student athletes. Every student athlete can review and accept NIL deals, receive payment, disclose activities for compliance, and even auto-generate tax documentation. Once a deal is completed, the athlete’s compensation at the agreed upon amount is guaranteed, meaning they won’t have to invoice the brand or chase after payment. The platform also allows athletes to manage all communication within their Opendorse app, rather than wading through unsecure messaging in email, texts and social media DMs.
“Our new and innovative partnership with Opendorse allows University of Oregon student-athletes to continue to maximize opportunities related to their name, image, and likeness,” said Oregon athletic director Rob Mullens in Oregon’s press release. “The Oregon Ducks Marketplace provides an efficient process to allow UO student-athletes to connect with those wishing to offer opportunities, benefitting them and continuing Oregon’s leadership role in all NIL-related endeavors.”
Opendorse says it already has schools from each Power 5 conference and several Group of Five schools at its premium level which will each receive these marketplaces free of additional cost.