The Pac-12 has announced a new licensing partnership with blockchain technology company Recur, and artificial intelligence (AI) specialist Veritone, to produce the National Collegiate Athletic Association’s (NCAA) first ever Non-fungible Tokens (NFTs).
The conference recently became the first to allow college athletes to use clips and highlights from its broadcast output on Pac-12 Networks in potential name, image and likeness (NIL) deals.
Both Veritone and Recur will work with college athletes to authorise NFTs containing their highlights, under the new Pac-12 Networks NIL Licensing program, which was launched earlier this month.
Through this new agreement, NFTs will be available exclusively on Recur’s online marketplace NFTU.
Veritone has licensed blockchain platform Recur to produce new video NFTs from Pac-12 Networks, featuring highlights and key moments from both men’s and women’s collegiate sports.
“This new partnership between Pac-12 Networks, Veritone and Recur will unlock new ways to deliver the Pac-12 sports content fans love, now through NFTs”, said Kenden Blake, the Pac-12’s Networks’ senior manager for distribution and licensing.
Recur’s co-chief executive, Zach Bruch, added: “In partnership with Veritone, we are excited to leverage our technology to bring Pac-12 Networks to the NFT arena, and offer fans the previously unavailable opportunity to own their favourite Pac-12 plays, sports memories, and traditions.”