HBCU graduates Terry Comer and Khalil Thompson have secured new funding for their work in the NIL space.

In 2021, the pair, who had an interest in college sports, united to launch NIL FanBox, marketed as the only “university-approved, player-endorsed recurring collectibles platform.” It works by sending sports fans 100% authenticated collectibles from their favorite college athletes. Its website mentions that the curated box includes three to five signed collectibles, a “Golden Ticket,” exclusive player merchandise, and digital authentication. One of its partnerships, with The University of Texas at Austin, resulted in the Longhorn FanBox, which is valued at $199 each football season and energizes fans by including “ultra-rare” collectibles and “behind the moment” interviews.

Photo Credit: NIL FanBox

While NIL FanBox certainly benefits fans, it also supports athletes by allocating a portion of its revenue back to them. NIL FanBox returns more than 30% of its revenue to participating players. According to a news release shared with AFROTECH™, $500,000 so far has been distributed to participating athletes at both the University of Texas at Austin and the University of North Carolina.

NIL FanBox’s momentum will only continue to grow in light of partnerships confirmed at The Ohio State University, Florida State University, and Gonzaga University, with more school outreach in the works.

$2.25M Raise

Additionally, NIL FanBox has successfully raised $2.25 million in a funding round led by venture capital firm KB Partners. This investment will be used to scale operations and introduce new products.

“We’re excited to back NIL FanBox in its journey to reconnect fans to the stories and moments that make college sports unforgettable,” Matt Howard, principal of KB Partners, said in the news release. “The team has demonstrated incredible passion, expertise, and vision. We believe NIL FanBox is poised to lead the way in delivering personalized fan experiences in the new era of College Sports.”

Comer, co-founder and CEO of NIL Fanbox, commented: “We are excited to partner with KB Partners whose deep expertise in scaling innovative sports brands aligns perfectly with our vision for the future of NIL FanBox. This investment will allow us to enhance the experiences we deliver to our customers, expand our collegiate licensing relationships, and rapidly scale operations.”