Iowa Hawkeyes # 55 Luka Garza passes Asbjørn Midtgaard # 33 of Grand Canyon Lopes in the first round of the NCAA Division I men’s basketball tournament 2021 at the Indiana Farmers Coliseum on March 20, 2021 in Indianapolis, Indiana.
Trevor Brown Jr | NCAA Photos | Getty Images
In addition to owning the digital token, which contains several images of Garza, the highest bidder on his NFT will receive signed shoes from the game for which he set the program record most points in a career.
“I think that was something cool for … whoever was going to win the NFT to see what includes me, what makes me succeed at the highest level,” said Garza, suggesting the experiential aspect of his digital collectible it is different from any other “picture or work of art”.
Portions of the sale will be donated to the University of Iowa Stead Family Children’s Hospital“So it’s for a good cause too,” said Garza.
Garza’s announcement came not long after his four-year college career came to his conclusion in the second round of the NCAA men’s basketball tournament. It means he is now free to accept compensation for his athletic success without breaking NCAA rules and jeopardizing eligibility.
There has been significant effort in recent years to allow NCAA athletes to benefit from their name, image, and likeness known as the NIL. The NCAA delayed a vote on the compensation rules earlier this year. However, some states have Already passed their own NIL legislation and some suggestions were made introduced at federal level.
The US Supreme Court recently heard a case relating to educational remuneration for NCAA athletes.
Garza, a business major, said he was grateful for the NCAA and the opportunity to receive a scholarship to do basketball and education at the same time. Even so, he praised those pushing for NIL rights to be expanded, such as his teammates from Iowa Jordan Bohannon.
“I stand with the changing times and I think … this could pave the way for college athletes in the future to do so and make money on their name, image and likeness with something like an NFT” Garza told CNBC.