It’s short for “name, image & likeness,” what the NCAA is allowing student athletes to sell to support their college sports careers.
Several states have now passed laws regulating this practice. Maryland’s law won’t take effect until July 2023.
But in the meantime, the University of Maryland has partnered with Brandr Group, so its athletes can legally use the school’s trademarks and logos on their own products.
With the Big 10 schools being the leading conference for player compensation, UMD has instituted a number of guidelines while waiting for the law to kick in, including: deals must me disclosed within 14 days, students can sign with competitors of the school’s advertisers (so a player can endorse Adidas over the University’s UnderArmor sponsor) but banned products (tobacco, adult entertainment or #cannabis) are outlawed.
Just so you don’t think there are a lot of college millionaires, the average Division I player is making $1,256 per the last survey.
If you run a public company that has invested in Bitcoin or other cryptocurrency you have to take the hit.
The SEC has told companies like Microstrategy and Tesla that they cannot use non-GAAP financial measures to strip out losses from cryptocurrency downturns when filing their periodic reports on Form 10-Q and 10-K.
The staff of CorpFin stated in its comment letter “…we object to your adjustment for bitcoin impairment charges in your non-GAAP measures. Please revise to remove this adjustment in future filings.”
Language like this is a policy statement, so take it as gospel.
One of the benefits of being a member of a limited liability company or a stockholder of a private company was that the public and the government didn’t know about it.
Unless you are an organizer of an LLC or a director or officer of a corporation where your name is on a public filing with the state the company’s organization, you are anonymous.
That’s going to change with the recent new regulation from the Financial Crimes Enforcement Network, a Treasury Department agency that enforces the Corporate Transparency Act which is part of the Anti-Money Laundering Act of 2020.
When the regulation goes into effect about 28 million entities will be required to “confidentially” report to FINCEN each beneficial owner’s:
full legal name,
date of birth,
current resident or business street address, and
driver’s license or passport number and a scanned copy of that document.
Non-Fungible Tokens (NFTs) are quickly becoming the new way to monetize almost anything.
Since the NFT is “virtual” not real what you see is not what you get. What you get is a digital representation of the physical thing, so it’s like buying a picture of a car, but not getting the car.
There is a somewhat surprising backlash growing over the move by some fan-based companies over their attempt to sell NFTs to their customers.
Recently, the rabid Stan Lee fans have revolted over the tweet that his first Indian hero, Chakra The Invincible, would be selling an NFT (digital art) collection.
Per CBR-dot-com, his followers found “the tweet to be a degrading and irresponsible message that disrespects the legacy of Lee and his influence on popular art.”
Ubisoft issued NFTs in its Ghost Recon Breakpoint game to similar upset (their NFTs are getting low ball bids in the market) and GSC GameWorld backed off its plan to sell NFTs of players faces pasted on their avatar characters.
Many reason that the backlash is due to the anti-ecological effects of the need for extreme power for crypto mining, but the real reason is that fans feel that the gaming companies are picking their pockets.
Is it really a “new way of financing” independent films?
Or is it just another gimmick to find funding in the ever harder world of movie making?
Non-Fungible Tokens are now being touted as the way indie producers can raise funding for projects.
THR reported about “financing the movie through a combination of NFTs and a first-of-its-kind public offering to sell shares in the film.” It’s unclear what makes the IPO a one-of-a-kind when filmmakers have been crowdfunding films for years.
And NFTs are the opposite of what most producers want: an NFT has a single owner/viewer, and most filmmakers seek a wide audience.
If NFT’s are simply “chotskies” (ie, little mementos) of the movie like a poster or a gif, then what’s so new about that?
However, if you can find a wealthy someone who, like the PharmBro who spent $2 Million for a music CD, to buy an NFT of the film for its production cost plus a profit, then you’re on the right track. That woman is the “executive producer.”
Power in negotiation (IMHO) is the ability to walk away from any potential transaction, no matter how far along you are in the process.
The power element is the desire. It’s not the need.
In a commercial setting, especially in the movie business, no one “needs” to get a picture made. Needs are what Maslow describes.
The person who has the most desire for the deal to happen is the one with the least amount of power. That’s why many people cut bad deals.
The other aspect is, of course, simple supply and demand. There are millions of film scripts floating around in the ether. (Most aren’t so good, but many bad scripts get made).
So, when a studio picks one over the other, the negotiating power shifts to the studio.
With the supply outweighing the demand, when a producer picks a script, (unless you’re Aaron Sorkin), your desire bell starts ringing like mad. And the negotiation goes something like “here’s the deal-take it or leave it.” Would you walk away?
In 1908, there were 253 automobile manufacturers in the world. Today, about 20.
There are more than 7,000 cryptocurrencies in existence as of November 2021.
If you don’t see a comparison, don’t worry, the new Chairman of the Securities and Exchange Commission does.
Mr. Gensler, a former professor of blockchain technology at MIT, has likened the cryptocurrency wave to “wildcat” banking in the years before the Federal government created the Office of the Comptroller of the Currency.
Back then, banks made their own paper money.
His view is that it just won’t work.
He has likened stablecoins (digital assets tied to the US dollar) to casino gambling and has urged cryptocurrency exchanges to register under the Securities Exchange Act of 1934.
The urging has come with threats of prosecution.
And the large companies like Binance are taking notice, putting a full page ad in today’s Washington Post, noting that regulation is coming.