Happy Monday! Hope you had a wonderful week as we (hopefully) begin to tip-toe into Spring like weather over the coming weeks! Here’s a few business and marketing stories I read over the last few days that I wanted to share:
Yuga Labs, which previously acquired the Bored Ape Yacht Club and Mutant Ape Yacht Club brands, has now acquired CryptoPunks and Meebits. As you can see from the tweet, and article here, Yuga will be granting the same commercial rights to the NFT owners as BAYC and MAYC owners enjoy. I want to do some more digging into this ownership issue, because it almost seems like we have a licensor/licensee arrangement happening here. Which isn’t true ownership, and a bit contrary to the intended web3 ethos. But still very cool move by Yuga Labs, regardless! Either way, it will be interesting to see what develops commercially from this, either with individual NFT owners, or as a collective.
Some big news to share today: Yuga has acquired the CryptoPunks and Meebits collections from @LarvaLabs, and the first thing we’re doing is giving full commercial rights to the NFT holders. Just like we did for BAYC and MAYC owners. pic.twitter.com/lAIKKvoEDj
— Yuga Labs (@yugalabs) March 11, 2022
So last Summer, I wrote a post on NIL laws going into affect in multiple states. When it happened, I immediately knew this was the story of the year, because of the huge impact it would have on the business, sports, and branding worlds in the future. Well now the future has arrived. As my friend Kristi writes, there is an offer on the table to an unnamed Class of 2023 football recruit that would pay him $8 Million for the exclusive rights to his Name, Image and Likeness for 4 years.
Read those numbers again: A high school junior football player is being offered $8 Million dollars over 4 years. Not to play football, but to post on social media, make public appearances, etc. Kristi talked to the NCAA about this deal and it would likely be a violation of its rules on pay to play. Still, it feels like it’s only a matter of time before similar deals become commonplace, and if that happens, the worlds of collegiate and amateur athletics will effectively be over.
Updated my analysis of the reported $8M+ NIL deal for a high school junior with comments from former NCAA Assistant Director of Enforcement @vicd55, who was nice enough to chat with me about the situation. https://t.co/fRbMEHPv3r
— Kristi Dosh (@SportsBizMiss) March 12, 2022
Marketing Charts has a very interesting analysis of engagement rates for content posted to Facebook, Twitter and Instagram. Before reading, which platform do you think has the highest engagement rates? Instagram, and it’s not even close. Visual content drives engagement, it’s just a fact of digital life. But what industry on Instagram drives the most engagement? Would you believe Higher Education? I found that very surprising. The 3 percent engagement rate for content about higher ed was almost double the engagement for the 2nd place industry: Sports teams.
Brand Post Engagement Rate Benchmarks for Facebook, Instagram, and Twitter https://t.co/McooJ7JM9H @marketingcharts @RivalIQ
— marketingcharts (@marketingcharts) March 10, 2022
So that’s all I have for this week, hope all of you have a wonderful and productive week, and I will see you here next Monday!
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