Veritone Announces Agreement with RECUR to Create Non-Fungible Tokens (NFTs) Using Licensed Pac-12 Networks Content in New College Sports Marketplace
The new three-year agreement will simplify a multi-rights environment and make it possible for fans to own collegiate sports digital products and collectibles
Veritone, the creator of the world’s first operating system for artificial intelligence, aiWARE™, and provider of digital content licensing services on behalf of the world’s premier sports entities, news organizations and user-generated content networks, today announced an exclusive agreement with RECUR to create NFTs, initially with Pac-12 Networks athletics video content. This content will be available in a new NFT community and marketplace called NFTU—the official collegiate destination.
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“Veritone is at the forefront of advancing technology, and the opportunities we see through NFTs as it relates to name, image and likeness (NIL) licensing for athletes are endless”
RECUR designs and develops on-chain experiences that allow fans to buy, collect and resell non-fungible tokens (NFTs) as digital products and collectables. RECUR is changing the NFT market by creating a new ecosystem which enables brands to have the widest-possible range of distribution. The company standardizes recurring royalties minted on any cryptocurrency, keeping NFTs chain-agnostic and drawing more fans into the crypto ecosystem.
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Veritone is the exclusive licensing partner for Pac-12 Networks and will coordinate with student-athletes to obtain authorization to use their highlights, in accordance with the Pac-12 NIL Licensing Program. With RECUR, Pac-12 Networks will make video highlights of Pac-12 moments across all sports available for NFT creation.
RECUR’s Veritone and marketplace—for the first time—will allow college sports fans to own the greatest highlights from college sports, starting with the most memorable Pac-12 moments.
“At RECUR, our goal is to democratize access to NFTs and dispel the notion that they are too hard to understand or only accessible to those heavily engaged in the cryptocurrency world,” said Zach Bruch, co-chief executive officer at RECUR. “Through Veritone’s licensing platform, we are excited to bring the Pac-12 to the NFT arena and empower fans and athletes to own their own favorite plays and sports memories.”
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