The College Basketball Crown is set to unveil a hefty $500,000 NIL endorsement opportunity. John Fanta spoke to three participating head coaches about how the first-year tournament is differentiating itself from other postseason events.

The College Basketball Crown, a new postseason tournament, tips off its inaugural run on March 31 with 16 men's teams. What's at stake: $500,000 in name, image and likeness brand ambassador deals is on the line making it one of the first postseason college basketball tournaments to explicitly tie team success to NIL opportunities.

It’s a similar format to the Players Era Festival, an early-season tournament also in Las Vegas that offered at least $1 million in NIL money to each of the eight participating teams. Bazant said the Crown borrowed some ideas from that event and other tournaments.

Madness continues, certain college basketball teams are gearing up for an exciting new postseason event: the College Basketball Crown. What makes this tournament stand out isn’t just the competition—it’s the game-changing $500,

College basketball programs that fell shy of the NCAA's March Madness tournament will now have the opportunity to compete in the postseason through the College Basketball Crown.

Some states initially allowed bets for the 16-team tournament that began on Mar. 31, but bettors had their wagers voided and funds returned.