How Opendorse Became the Powerhouse of the Billion-Dollar NIL Market
Inc.com•1 month ago•
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How Opendorse Became the Powerhouse of the Billion-Dollar NIL Market

Startups
nil
opendorse
startups
entrepreneurship
collegeathletes
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Summary:

  • Prince Amukamara leveraged Blake Lawrence's expertise to build his personal brand.

  • Opendorse was founded in 2012 as a marketplace connecting athletes with brands.

  • The Fair Pay to Play Act in 2019 opened opportunities for college athletes to earn from NIL.

  • Opendorse onboarded nearly 50,000 college athletes in just three months post-NIL legislation.

  • Top athletes are earning millions, with Livvy Dunne making $9.5 million in NIL deals.

The Genesis of Opendorse

When Prince Amukamara was drafted by the New York Giants in 2011, he relied on his friend Blake Lawrence, a former college teammate, to navigate the world of endorsements and personal branding. Lawrence, who had transitioned from football to entrepreneurship, was already running a startup called Hurrdat to help businesses enhance their social media presence.

Building a Brand

With Lawrence's guidance, Amukamara gained a significant Twitter following and soon attracted numerous brand offers after the Giants' 2011 Super Bowl victory. This led to the creation of Opendorse in 2012, a platform that connected athletes with businesses seeking endorsements. The company's initial growth was powered by Amukamara's influence, as he encouraged fellow players to join the platform.

Pioneering NIL for College Athletes

Initially focused on professional athletes, Opendorse's journey took a pivotal turn when California passed the Fair Pay to Play Act in 2019, allowing college athletes to profit from their names, images, and likenesses (NIL). This legislative change opened the floodgates for Opendorse, which quickly adapted its platform for college athletes despite initial resistance from universities.

Rapid Expansion

In just three months, Opendorse onboarded nearly 50,000 college athletes, surpassing its transaction volume from its first five years. This explosive growth highlighted the demand for a structured approach to NIL deals, especially for athletes without agents.

Opendorse founder Blake Lawrence Opendorse founder Blake Lawrence. Photo: Nicholas Calcott

The Financial Impact

Today, athletes like Livvy Dunne and Cooper Flagg have made millions through NIL deals, showcasing the financial opportunities available. While high-profile deals grab headlines, many athletes earn smaller amounts that help with everyday expenses. Opendorse stands at the forefront of this billion-dollar market, simplifying the endorsement process for athletes and brands alike.

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