Non-fungible Tokens are spreading their wings that are captivating every industry in just a matter of time. The sales volume of NFTs is skyrocketing exponentially, and there are no signs of slowing down. Can you imagine that even airline tickets are NFTs now, and they have sold for $1 million recently? No wonder NFTs took over the Sports industry too. Ever since the NBA top shot- the first-ever sports-based NFTs came into existence, fans are rushing toward the Sports NFT marketplace. This is not just to show their loyalty but also to rejoice in their ownership of exclusive sports content on the blockchain.
NFTs and sports
Gone are the days when fans were trading sports cards, and now it’s time for digital collectibles. NBA top shot served as the starter for several sports leagues, fandoms, teams, and sportspersons to get into the world of Blockchain. It ushered in a new era of digital collectibles for sports, right from rare moments in a game to trading cards.
Non-Fungible Tokens on the blockchain offer exclusive ownership rights of digital assets that are unique and only one of their kind. Being minted on the blockchain, they are undividable, unerasable, and unhackable. Their ownership is permanently etched on the blockchain that no one can modify. So if you own a trading card as an NFT of your favorite player, it can never be torn over a fight or taken away from you unless you sell them to someone.
Sport NFT Marketplace
The game of NFTs attracted a lot of fans to the NBA top shot that later, NFL also entered the league. Today a lot of sports NFTs are flooding from various sports leagues and players in the NFT sports marketplace. So why are these Sport NFTs making the hype in the NFT market? How do fans benefit from them?
Sports NFTs and all the hype!
There are crazy fans out there who will get into the game field interrupting an international match just to get an autograph of their favorite player. There are even incidents where fans used to line up to get the merchandise from their favorite sports league. Authentic and original merchandise from the sports team, club, or organization will always get a special spotlight from the fans no matter what they are. If the merch is getting released commemorating a special victory, record, or a moment, the response is unimaginable. These events are conducted to increase fan engagement, monetize to get funds or in a business perceptive, or as an encouragement to the players.
The emergence of Non-Fungible Tokens in sports enabled better fan engagement. There are instances of NFTs coming with utilities allowing the fans to enjoy the ownership of the digital asset and get multiple utilities that come with it. Utilities that come with NFTs? What are they?
NFTs with utilities
When people said, Sports NFTs were exploiting the loyalty of fans; many NFT collections came out to prove them wrong. Some of them are
- The Italian Soccer club, Como 1907, released their NFT that proffered various utilities to the NFT holder. It includes lifetime season tickets to watch home matches, two first-class flights to Como from wherever the NFT holder is, and a three-day trip complete with tours and many more.
- The NFL is getting into NFT tickets, giving the fans access to selected games. NFT released their Virtual Commemorative ticket for the fans to enjoy the game in person. As well as giving them the trading option on the sport NFT marketplace.
- With Metaverse slowly emerging, NBA Topshot is getting into NFT real estate. Where the NFT buyers can get a chance to own a specific seat on a stadium in the metaverse. And witness the events in the metaverse easily.
NFTs are not just getting their hands-on sports. They are taking over the gaming industry as well. There are many games based on the NBA, NFL, and even racing. The NFT gaming marketplace filled with pet breeding and battles is now getting games based on games like football, basketball, and even cricket. Play-to-earn games are getting into the trend of paying. So the players more than what they get from their daily jobs.
With blockchain technology taking over the current phase of the internet.NFTs will hold the future of taking every industry within it. While NFT marketplace platforms are taking charge of giving easy access to every NFT. NFT based on games and sports are taking an acute space in it. The NFT community is growing and eagerly awaits many exciting collections and P2E games entering the market. The invincible NFTs are on their well-made path and so to captivate the world soon!