The world of professional sports is a multi-billion dollar industry that continues to grow every year. With so much revenue coming into the space, investors and third-party agencies are constantly looking for new ways to optimize the experience for both the fans and the athletes. To this end, the non-fungible token (NFT) protocol has recently become one of the most talked about blockchain trends in this space. In 2022, football (soccer), basketball, baseball, American football, and ice hockey are anticipated to be the sports with the greatest numbers of sports-related NFTs. FIFA has already released some World Cup Series collections before the main event end of this year in Qatar 2022.
All sports will have some kind of NFT offering over time, although these might be for a single event, such as a Formula 1 driver gaining his hundredth championship or a football player scoring his hundredth international goal. Whether NFT activities are best performed at the team, league, or individual level will be a critical first decision. Reminder: NFTs are digital tokens that have unique attributes and cannot be subdivided or duplicated. Think of them as more like stickers or collectible coins than one-of-a-kind art pieces. Here are some links to learn more about What NFT is and the Type of NFTs This article explores how NFTs can help revolutionize the $50 billion sporting goods industry by bringing new value to collectors, brands, and secondary markets. NFTs have garnered much attention in the sports industry in recent years. A Deloitte report predicts that sports NFTs could generate more than $2 billion in transactions in 2022.
Why Fungibility Matters
For the majority of the past century, sports collectibles have been traded as non-fungible tokens. These collectibles are highly unique and non-interchangeable