“We do it all the time in practice, and he (Jalen Suggs) usually makes the shot, it did not surprise me at all.”
Those words from Gonzaga coach Mark Few really ring true on many levels when thinking about how Jalen Suggs banked in overtime buzzer beater can resonate in a new world order of digital highlights, NIL rights and fan experience into the future, not just for March Madness but for any “Moment in time” when fans, consumers, and group really, can experience a common instance together.
Now first on Name Image and Likeness, Pete Thamel had an extensive piece on the “millions” a shot like that could bring to an individual in the coming years. We have also touched on this in some recent pieces. However there are still many elements to consider on hos someone could capitalize on an instance like this on the biggest stage. Who owns the footage and how does that play out? Are there other elements…phrases, short form video captured by a third party, heck even play diagrams, that can also have a play in the NIL base? Also, while Suggs’ moment is something to be seized, we saw lots of other poses and moments throughout the tournaments, men AND women, that can also be monetizable (how about Gonzaga’s Corey Kispert and his poses and touches to the mustache…or and his headband?
While many still seem to be fixated on the NIL capture of the biggest moment, the reality is that baby will have to be split many ways, and there are other of micromoments that can be valuable and monetizable, be it for profit or causes, that will be there with every event, in probably every sport.
Much of that goes back to what Coach Few said. Practice and preparation. Which schools, which athletes, which third parties, which BRANDS, will be in the best position to act smartly and responsibly if and when moments occur? Those are all key elements of the actionable world that will unfold in the coming years. Right now frankly a lot of it is guesswork until more legislation makes it clear what the rules will be. It is fun to speculate, what is more fun is to imagine the possibilities and be in a position to strike, just like the Zags and Jalen Suggs were.
NFT’s and the like. A second element of the NIL debate, and one which is probably going to go hand in hand with that execution, will be the digital highlights and the buying and selling of those moments. How would a video short like Suggs’ buzzer beater, or a Stanford women’s celebration, be marketed and monetized in the moment? The rights for that short form video on any level are going to become more intriguing, and more of a valuable piece of the rights deals going forward. That small highlight has been shared millions of times by parties around the world in the past few days…but because of regulations NOW, or the lack of regulations, the dollars a rightsholder can leave on the table in a digital art crazed world are pretty enormous.
The shared experience being captured. There was a good New York Times piece on one of the elements lost because of the Pandemic, the ability for a crowd being able to juice the experience for the participants, and to have those who are there to be able to have their own part of that moment. While the tickets and other mementos which are limited can be a part of the limited fans who were there on Saturday, there were millions who watched and were “part” of the experience on whatever device they were on. We have seen some of the images, like we have seen in other big moments, of fans sharing their collective joy when “IT” happens this past year, but what if part of that experience was a digital currency which verified that you were watching, and it came with a form of a collectible? It didn’t mean that you were in the build, but you were part of a memorable community that has currency and relevance? That sharing of a digital, and tagged, memento will probably be more valuable, and have greater relevance, as fans and communities continue to expand the use of digital moments as well as in person ones, which can provide even more of a shared experience and a quantifiable one, for those choosing to engage.
The good news is that all of these pieces are going to be a part of a new reimagined and expanded monetizable offering for all in the years to come, along with others, frankly, we have only started to slightly grasp. Some will work, some will be part of the fandom and marketing DNA, some probably will fall by the wayside.
One thing that won’t end, as long as games are being played and fans are choosing to engage, are the moments…ones that we saw this past weekend in hoops and in countless other places big and small. They are all part of the collective fun that is sports, and that won’t go away. Engagement will offer, the moments will grow, along with how they will be shared and quantified.
Like Coach Few said, it takes practice and prep to be ready for the moment, be they big or small ones that can get big with our shared communities and experiences.
