Non-alternative tokens (NFTs) and digital assets are one of the 10 major trends in the sports industry, according to the Sports Outlook 2022 report from North American consultancy PriceWaterhouseCoopers (PwC). From changing the sports technology infrastructure to promoting fan involvement, the report describes three key use cases for NFTs and their potential to shape the future of sports.
The first use case is a collectable NFT. This is an asset used to sell collectible and certified limited edition digital content. This refers to traditional souvenirs such as player trading cards and historic match ticket stubs that can be digitized, created and traded on the blockchain. The report added that these collections will eventually become visible and may be shared between metaverses.
The “best known” example of a collectable NFT collection is the NBA top shot from Dapper Labs.Marketplace is a highlight or The “best” play comes from the history of the NBA and was recently ranked second in 2021 with the most NFT transactions in the $ 827 million blockchain gaming industry, after the Axie Infinity game. .. Marketplace Autograph recently raised $ 170 million in Series B funding.
Second, season ticket member (STM) NFTs can be seen as another major use case. Providing verified tokenized passes to season ticket members enhances the experience of already loyal fans. STMs accustomed to accessing additional special content and stadium experiences can also receive collectible NFTs for special editions of participating games. Sponsors can also benefit if the sponsor team can ensure that customers who have lost their physical tickets do not lose additional benefits.
Finally, it is expected that there will be a need for virtual access tokens for fans who prefer to pay more for virtual experiences and may not be able to participate directly in the game. Described as a new version of the season ticket, virtual access tokens give owners access to more behind-the-scenes perks such as player cams, bench cams, and even access to virtual locker rooms. Successful football clubs with fan tokens include Paris Saint-Germain and Manchester City, giving fans the right to influence non-strategic match day decisions such as walk-up music.
PwC explained that ticket sales, media rights and sponsorship are currently the largest sources of revenue for teams and leagues. We hope that tokenized tickets, NFT media rights, and sponsorship of digital or metaverse events will drive the growth of the industry, and the sale of digital assets can also be a “serious” source of revenue. It states. However, to achieve this, the team will need a technology stack to connect new digital sales data to existing customer databases and a strong legal team to handle regulatory and tax implications, the report added. I am.
All of these trends are rising, especially the partnership between the NFT Marketplace and the Sports Association. Recently, Magic Eden of the Solana NFT Marketplace announced the next NFT collection in collaboration with sports entertainment platform Overtime to enhance fan engagement at the 2022 NCAA Men’s Basketball Tournament.
