Datavault AI (NASDAQ: DVLT) Advances NIL Debit Card Initiative, Names Ronald Goldstein to Lead Sports Licensing

Questions around this news

What did Datavault AI announce about its NIL debit card initiative?
The company reported progress on a planned NIL debit card capability linked to an embedded banking and payments arrangement with Fiserv. It said planned payment wallets and cards are intended to let participating athletes receive, manage and access funds earned through sponsorship and name, image and likeness activities. The release also connected the payment features to development of its planned NIL exchange platform.
What does NIL mean in sports?
NIL is short for name, image and likeness. In sports, it refers to aspects of an athlete’s identity that can be used commercially, such as in endorsements, sponsorships or licensed products. NIL arrangements allow athletes to receive compensation for authorized uses of those identity rights, subject to applicable rules and agreements.
How does embedded banking work?
Embedded banking integrates financial services, such as payments or access to accounts, into a non-bank company’s product or platform. A banking or payments provider may supply the regulated infrastructure, while the other company presents the service within its customer experience. The specific responsibilities and features depend on the arrangement between the participating organizations.

announced progress on its NIL debit card capability through its embedded banking and payments arrangement with Fiserv while appointing Ronald M. Goldstein to lead professional sports licensing for its NIL Vault (“NILv”) platform. The company said the planned payment wallets and debit cards are intended to enable participating athletes to receive, manage and access funds earned through sponsorship and NIL activities.

Datavault AI said Goldstein, who has more than 35 years of experience in sports marketing, licensing, intellectual property and commercial partnerships, has already begun advancing official licensing initiatives for NIL Vault, including programs involving Josh Gibson, Roberto Clemente and Yogi Berra. The company said the appointments and expanded payment capabilities support the continued development of its planned NIL exchange platform.

To view the full press release, visit https://nnw.fm/zeb9b

About Datavault AI Inc.

Datavault AI(TM) is leading the way in AI-driven data experiences, valuation and monetization of assets in the Web 3.0 environment. The company’s cloud-based platform provides comprehensive solutions with a collaborative focus in its Acoustic Sciences and Data Sciences divisions.

Datavault AI’s Acoustic Sciences division features WiSA(R), ADIO(R) and Sumerian(R) patented technologies and industry-first foundational spatial and multichannel wireless, high-definition sound transmission technologies with intellectual property covering audio timing, synchronization and multi-channel interference cancellation. The Data Science division leverages the power of Web 3.0 and high-performance computing to provide solutions for experiential data perception, valuation and secure monetization.

Datavault AI’s platform serves multiple industries, including high-performance computing software licensing for sports & entertainment, events & venues, biotech, education, fintech, real estate, healthcare, energy and more. The Information Data Exchange(R) enables Digital Twins and the licensing of name, image and likeness by securely attaching physical real-world objects to immutable metadata, fostering responsible AI with integrity. The company’s technology suite is fully customizable and offers AI- and machine-learning-based automation, third-party integration, detailed analytics and data, marketing automation and advertising monitoring.

The company is headquartered in Philadelphia, PA. Learn more about Datavault AI at https://dvlt.ai.

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At a glance

Company: Datavault AI Inc.
Ticker: NASDAQ: DVLT
Announcement: Partnership

People

Ronald M. GoldsteinLead professional sports licensing for NIL Vault

Products and programs

NIL Vault (NILv)
NIL payment wallets and debit cards
NIL exchange platform

SEC filings

Earlier from Datavault AI Inc.

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