January 15, 2025

HBCU Grads Secure $2.2M For College Sports Memorabilia Subscription Platform

L-R Khalil Thompson and Terry Comer

HBCU alumni Terry Comer and Khalil Thompson have raised $2.25 million for NIL FanBox in a seed funding round led by sports tech venture capital firm KB Partners.

The subscription platform delivers autographed college memorabilia to sports fans’ doors every season, sharing profits with student athletes and their schools.

What’s the story behind NIL FanBox?

NIL FanBox’s website states that it is 100% university-approved and endorsed by the players. “They [FanBox] make it super easy for players to engage directly with fans,” Drake Maye from the North Carolina football team said.

Sports fans are sent 100% authenticated collectibles from their favorite college players. The boxes include three to five signed collectibles, a “Golden Ticket,” exclusive player merchandise, and digital authentication. The Longhorn FanBox, their partnership with The University of Texas at Austin, is valued at $199 every football season, and fans receive “ultra-rare” collectibles and “behind the moment” interviews.

How does NIL FanBox benefit college sport?

In addition to benefitting the fans, it also gives money back to athletes by with approximately 20% of each subscription distributed among athletes, according to Sports Business Journal. Participating schools also receive around 30% of subscription revenue in the first year, and 5-10% in the following years.

The company reports that $500,000 has been allocated to players in the program at the University of Texas at Austin and the University of North Carolina.

What does NIL FanBox Plan To Do Next?

NIL FanBox’s seed funding will go towards scaling operations and introducing new products. It also has secured partnerships with Ohio State, Florida State and Gonzaga.

“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,” Comer, co-founder and CEO of NIL Fanbox, said in a news release seen by AfroTech.

Matt Howard, principal of KB Partners, added: “We’re excited to back NIL FanBox in its journey to reconnect fans to the stories and moments that make college sports unforgettable.”


Image:  NIL FanBox / L-R Khalil Thompson and Terry Comer

Habiba Katsha

Habiba Katsha is a journalist and writer who specializes in writing about race, gender, and the internet. She is currently a tech reporter at POCIT.