From Florida A&M Athletics:
Florida A&M Athletics announced the Rattlers Local Exchange as they extend their partnership with INFLCR to give their student-athletes more business opportunities with Name, Image, and Likeness (NIL) through the Local Exchange. Florida A&M Athletics is the first HBCU to give its student-athletes access to the Local Exchange.
“The Rattlers Local Exchange is a great turnkey vehicle for our student-athletes to participate in Name, Image, and Likeness activity and opportunities,” said Florida A&M vice president and director of athletics Kortne Gosha. “As the first HBCU to establish a local exchange, we believe that we will continue to create a transformational experience that positions our student-athletes, our program, and coaches for success.”
The Local Exchange allows local and national businesses and collectives to communicate with student-athletes to construct and fulfill NIL agreements. The business community can partner directly with student-athletes on brand-focused activities, provided they are within legal protocols and follow the Florida A&M University NIL protocols and are approved in advance by the Florida A&M Athletics compliance department. Such activities may include autographs, promoting brands on social media, third-party media endorsements, running camps or clinics, providing private sports lessons, personal appearances, and more.
“FAMU is an HBCU leader when it comes to investing in their student-athletes branding and NIL resources,” said INFLCR president Jim Cavale. “After being the second HBCU to add INFLCR Verified’s software department-wide, they’re now the first to bring Local Exchange to their student-athletes. With the addition of the Rattlers Local Exchange to their INFLCR brand building & compliance spread, every student-athlete will be given the opportunity to grow their NIL business.”
“Every INFLCR school has their own business community, donors, fan base and even some have their own collective,” said Cavale. “All of these parties need a school-specific exchange to find, communicate, pay and report transactions with the school’s existing INFLCR student-athlete user base.”
INFLCR+ Local Exchange
The INFLCR+ Local Exchange is a student-athlete NIL business registry, custom-designed for your institution – one place for your coaches, staff, and partners to direct any interested NIL dollars for student-athletes. It will produce a direct payment to the student-athlete (without any transaction fee) and automate a disclosure to your INFLCR Verified Compliance Ledger. The Local Exchange enables a legislatively compliant platform for businesses and student-athletes to engage, providing a consolidated 1099 at the end of the year for athletes and centralized tax reporting for businesses.