Did you know that the NFT (Non-Fungible Token) sports collectibles market is expected to reach a whopping $2.6 billion by 2022? But what are the reasons behind its immense popularity and huge demand? Sports NFTs offer creative ways for loyal fans to support and improve the morale of their favorite teams.
Looking at the other side, sports organizations also have an advantage as they can benefit from new revenue streams by issuing digital collectibles. The best part is that you’re not limited to attending live sporting events.
Fans can interact with athletes in virtual environments such as the Metaverse, AMAs and Meet & Greet. Sports fans can also collect digital trading cards, virtual memorabilia, and other sports items to preserve special moments forever.
wait, there’s more!
Recently, the organizers of the Ballon d’Or, the most prestigious individual award for professional footballers, announced that the winners will receive a trophy and an NFT.
NFTs and Trophies: Win-Win
The award will be announced at the 66th Annual Awards Ceremony and the public will also be given the opportunity to purchase other collections related to the award.Best male and female soccer player not only wins her NFT award, but collectibles
- Copa Trophy (Highest Wishes)
- Machine Trophy (Best Goalkeeper)
- Müller Trophy (best striker)
In this case, athletes, clubs and sports brands gain new monetization avenues, and football fans can connect with their favorite clubs and athletes.
This is one of the reasons sports NFTs trade for thousands of dollars or more. The good news here is that the value of the rarest pieces has increased exponentially since they were minted.
Ballon d’Or long-term strategy
NFT is part of the media group’s long-term strategy. According to insiders, the first collection will be followed by Equipe and Amaury groups, which hope to pave a sustainable path in the Web3 world. To further their vision, the media group has partnered with blockchain platforms Tezos and Door-Sport. Equipe’s director of strategy, he even Émilie Montané, suggests the NFT market is stable and it’s the right time to challenge NFTs. She further said it was a speculative phenomenon, but now there are enough buyers that they can own this NFT and do whatever they want. functions as
This award will further strengthen the Metaverse and NFT, joining other sports-related venues. Montane added that he had done proper research on the sector before deciding on an entry strategy.
Ballon d’Or NFT Auction
In addition, three NFTs will also be up for auction, giving owners VIP access to the awards ceremony scheduled for October 17, 2022. Additionally, other of his NFTs will be for sale after the event. This all sounds like a very lucrative money making, but a portion of the sales will be donated to support charity at his Fondaaction l’Équipe, which supports sports-related projects. Football bodies challenging the NFT include the coveted English Premier League. According to verified sources, EPL has applied for several trademarks.
Are sports NFTs worth betting on?
Well, it’s worth the investment. Whether it’s associated with famous names, attractiveness of athletes, or diversification of investment portfolios, sports NFTs are gaining traction around the world. Additionally, major NFT companies such as Dapper Labs and Sorare have successfully signed licensing deals with some of the world’s largest sports leagues. It gives sports fans a new way to engage with their favorite clubs and athletes in the digital realm.
Sports NFTs have encouraged savvy collectors to make good profits by placing high stakes and selling appropriate collectible cards and virtual memorabilia during the peak of the NFT craze. Yes, the market is stable now and not as hot as in 2021. However, the number of sports fans entering the NFT space will certainly boost the value of sports NFTs in the years to come. There is also a dark side because of the potential.
But if you’re willing to pay the price and like collectibles too much, a sports NFT might be your cup of tea.
summary
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