The entire sports industry is tied to the fan movement. Representatives of sports leagues have long since learned to monetize their fans, but are constantly looking for new ways. Growing interest in NFT tokens can become a new source of revenue for sports teams and competitions. We explain exactly how. NFT you can also use for the Dragon Slots.
The „collecting“ that has been so closely linked to sport for generations has made the digital leap. The link between the two worlds has three letters: NFT, the name of these digital assets secured by a physical or virtual object (a card, a play) that move millions of dollars.
NFTs (an acronym for non-fungible token or cryptographic token) are digital assets authenticated by blockchain technology and consist of an immutable record of unique digital content. These cannot be copied without losing their authenticity and which are verifiable. It is the same technology that supports cryptocurrencies like Bitcoin and has made buying Bitcoin easy.
The NFT hype is in full swing and professional sports have joined the trend. Leagues, teams and athletes around the world sell NFTs. As long as people buy NTFs, teams and players will continue to manufacture and sell them.
Sports industry interest in NFT tokens
Non-fungible tokens exploded in 2021. While the art world is making headlines, sales of NFTs related to professional sports are on the rise. From the NBA to the NFL to global soccer leagues, the wider sports world is also taking note of this growing trend.
Leagues such as the NBA, European football clubs such as Real Madrid, Paris Saint-Germain, Bayern Munich or Juventus are already involved in this new trend as investors, promoters or customers of technology companies.
For clubs, this technology is a new source of income. It is another advantage they have as clubs. For example, these NFTs can be similar to old-fashioned trading cards, but in a version with blockchain technology. These are digitally animated collectibles with pictures of the players and a personal video interview. If clubs now charge Panini an amount for the sticker license, but instead of hundreds of thousands there is only one or a few, that is exclusivity on a digital level. This is a great opportunity for the clubs. They can understand what happens to each card, they receive an amount for each transaction, and it is a new source of income. In addition, this new technology enables them to bring their brand to new markets.
Athletes who already own NFTs
Athletes not only invest in existing NFT and blockchain companies, but also create their own NFT platforms. In addition to digital artwork, NFT buyers can also receive physical artwork, signed memorabilia, and/or virtual meetings with the athletes, depending on the NFT purchased. Iconic figures join a growing list of athletes entering the NFT space. We’ll list some of these athletes for you now.
Chabib Nurmagomedov
Russian MMA fighter Khabib Nurmagomedov has launched three unique NFT collectibles for digital collectible enthusiasts. Three limited series of cards are offered: Gold, Platinum and Diamond. The Diamond card is issued only once and is absolutely unique. The cards are trading cards issued to commemorate the end of the fighter’s professional career. Khabib has a winning streak of 29 consecutive wins without defeat. He presented his NFT to a large number of fans from all over the world.
David Beckham
One of the most famous soccer players of all time tops the list of the most expensive sports NFTs: David Beckham’s digital Rare Player Card from the 2012/13 season comes in at almost half a million dollars. This one shows him playing for Paris Saint-Germain in his final season. Over 100 digital trading cards for Beckham were produced on the blockchain.
What the future of sports and NFTs will look like
With non-fungible tokens, every piece, every work, every digital card is unique. It has a seal or code, which is characterized, among other things, by the fact that it cannot be shared. This is what makes the NFT so unique and valuable. According to figures from Statista and Fortune, revenue for the entire NFT industry in all its categories (art, games, sports, and others) reached approximately MDD 15.8 between 2018, 2019, and 2020, with sports-themed revenue alone reaching nearly MDD 600 in late 2020 and 2021.
According to forecasts by CNN Money and the Financial Times, the sports industry will exceed revenue of more than MDD 1,500 in 2021. In the first quarter of the year alone, NFT generated revenue of 2,000 MDD, according to CNBC. Judging by these utopian numbers, the future of sports and NFTs looks more than promising.
By Amey Myers
