NIL, which stands for Name, Image, and Likeness, is transforming the way young adults establish their careers by enabling them to profit from their personal brands and talents prior to graduating or entering traditional employment. This shift, occurring primarily since 2021, allows students to sign contracts with brands, develop merchandise, and even generate income through social media. The phenomenon is creating new career pathways for young athletes, demonstrating significant impacts on their financial futures and the overall landscape of work.
Through NIL opportunities, young athletes and students can sign contracts with brands, create merchandise, run social media promotions, and get paid for appearances.
NIL deals come in many forms. Some athletes sign endorsement contracts with sportswear companies, energy drinks, or local businesses.
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