The University of Michigan has inked a partnership with with Graduate Ann Arbor hotel and MORE Management to showcase a sports-inspired NFT gallery, becoming the first major university in the world to do so.
Called “Victors NFT,” the gallery exhibits NFTs across six digital screens. These screens will feature blue-chip non-fungible token (NFT) collection Bored Ape Yacht Club (BAYC), and art created by athletes from the University of Michigan.
What is “Victors NFT”?
In simple terms, “Victors NFT” is an NFT gallery launched by the University of Michigan, Graduate Anne Arbor and MORE Management. It features some of the current Michigan sports stars including Zak Zinter, Cade McNamara and Mazi Smith. Furthermore, legendary football quarterback Tom Brady is also a supporter.
The exhibit is located in the Graduate Anne Arbor lobby. In addition, the ‘Bored on Campus’ website will be launched in conjunction with the exhibition. Through this website, students can purchase products inspired by this NFT project.
Importantly, this University of Michigan approved NFT gallery will allow student athletes the opportunity to generate income from these NFTs. This will undoubtedly further support your studies and career.
Ann Arbor Graduate General Manager Jason Nelson said, “The Ann Arbor community loves the University of Michigan football program, and we are excited to offer a new avenue for fans to get involved and support their players, both past and present.”
Colleges Use NFTs to Raise Funds
Aside from the obvious use case of NFTs as digital art, colleges also use this innovation to raise funds.
In June, the University of California, Berkeley auctioned off an NFT based on Nobel Prize-winning research by immunologist James Allison, who helped establish immunotherapy as a fourth pillar of cancer treatment. He reported to the university about $50,000.
Berkeley announced months ago that it would auction off a second NFT based on Nobel Prize-winning Jennifer Doudna’s CRISPR-Cas9 gene-editing invention, but has since put those plans on hold. Creating the NFT was legally complicated, said Richard Lyons, the university’s director of innovation and entrepreneurship. However, the university is looking at other NFT auctions.
“We have another NFT lined up that involves a breakthrough that relates directly to blockchain technology, which should especially appeal to this collector audience,” Lyons said. “We are also looking at a potential NFT pipeline around the creative works of UC Berkeley.”
Berkeley auctioned off the NFT through Foundation, an online marketplace for NFTs. Using an existing platform like this is a good way for colleges and universities to experiment with NFT auctions, said Jeremy Coffey, a senior associate attorney at Perlman and Perlman who advises nonprofits on digital currency and new platforms.
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