"I overwhelmingly support Stony Brook student-athletes' ability to capitalize on their name, image and likeness, and the Seawolves Exchange is an important part of those efforts. The Seawolves Exchange will enable the local business community to easily connect with our student-athletes regarding NIL opportunities in this new landscape of college athletics," said Director of Athletics Shawn Heilbron.
Registered businesses can search, filter and initiate conversations with Stony Brook student-athletes to discuss an NIL deal via Seawolves Exchange. Once the NIL deal between a registered business and the student-athlete is completed, the business will use the Seawolves Exchange to create a transaction that will produce a direct payment to the student-athlete and automate a disclosure to the INFLCR Verified Compliance Ledger.
Stony Brook nor INFLCR gets involved in the deal and all transactions within the local exchange are consolidated into one 1099 at the end of the year for easier tax reporting purposes for registered businesses and athletes.
"We're thrilled to bring Stony Brook student-athletes and local businesses one place to connect on NIL after student-athletes logged over 37,000 app sessions since joining INFLCR last year. Now, student-athletes can use a session to find content and engage in NIL activity on the Seawolves Exchange, " said INFLCR Founder & President Jim Cavale.
In addition to being the hub for all Stony Brook student-athletes' NIL deals, the platform will provide education on NIL so student-athletes can be informed before they begin the process of closing an agreement. INFLCR provides education on financial literacy and brand building, while providing market research and tracking social media growth and engagement.
About INFLCR & Local Exchange:
INFLCR, a Teamworks product, is the leading athlete brand-building and NIL business management app for over 250 elite collegiate and professional sports organizations. The INFLCR athlete app educates student-athletes, coaches and staff for the NIL era in a safe and compliant environment, all powered by best-in-class content delivery for student-athletes to access and share content to their social media channels. INFLCR technology also includes the impactful INFLCR Local Exchange, a school-customized NIL exchange where schools can direct businesses, individuals, or collectives seeking to find, communicate with, pay and report NIL transactions with its student-athletes. The INFLCR Local Exchange maximizes the student-athlete's wallet share while streamlining compliance and tax reporting responsibilities.
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Stony Brook Expands Partnership with INFLCR to Launch Seawolves Exchange - Stony Brook University Athletics - Stony Brook Athletics
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