re: SEC NIL Earnings

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For the millionth time, the ON3 NIL "valuation" is a calculation they create using a made up formula of social media followers and interactions to determine what their supposed NIL "worth" is.

This is not what each athlete is making.

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So it's a calculation of their influence on social media. That can be somewhat problematic in that not all followers are created equal. Just like with TV ratings and advertising dollars - who is watching is just as important and sometimes more important than how many are watching. Certain age groups are far more valuable than others and certain topics/spaces to pitch those topics are more valuable than others (e.g. someone who runs a small or mid size video game channel draws more ad $$ than someone who runs a much larger stamp collecting channel because gaming and electronics advertisers are paying more than the Philately and numismatics society, unless for some reason that stamp collecting channel suddenly takes off and becomes a must watch for 18-40 year olds with large disposable incomes).