The milestone went almost unnoticed on Wednesday, surprisingly so, given the massive ramifications of this historic event. July 1, 2026, marked the five-year anniversary of NIL in college sports.Oh, how quaint July 1, 2021, seems now.At the stroke of midnight, college athletes could, for the first time in history, accept paid endorsement deals. TikTok stars Hanna and Haley Cavinder — twin sisters on Fresno State’s basketball team — made the first big splash with a Times Square digital billboard ad for Boost Mobile.Meanwhile, a Sports Illustrated headline declared that Miami quarterback D’Eriq King was “kick(ing) off NIL Era with a big payday,” from deals with several local companies that, the story revealed, “should net him more than $20,000.”Five years later, there are college quarterbacks making more than $5 million.Love it or hate it, NIL became something entirely different than what anyone in college sports envisioned five years ago, back when NCAA members begrudgingly bowed to years-long pressure from antitrust lawsuits, state legislatures and congressmen.In its annual report last month, NIL firm Opendorse projected that total spending across the industry will reach $4.5 billion this year when counting schools’ direct payments to athletes (which began last year), athletes’ own brand deals and paid social media posts, and sales of consumer products that license those athletes’ rights (jerseys, trading cards, EA Sports video games, etc.).The average Power 4 school’s athletes are making a combined $34.8 million.Hard to believe it was once headline news that Texas’s offensive linemen were getting paid $50,000 to do charity appearances.With a dozen-plus states’ NIL bills set to take effect on July 1, 2021, the NCAA officially lifted its longstanding ban on athletes monetizing their NIL rights. The primary beneficiaries figured to be social media-savvy athletes like then-LSU gymnast Livvy Dunne, whom brands would pay to advertise products to their many followers. And that absolutely happened.