Sports NFTs are a growing segment in the non-fungible token (NFT) market, allowing sports fans to collect digital trading cards, virtual memorabilia, and more.
Read on to find out what Sports NFTs are, where you can buy them, and if they’re worth buying.
What is sports NFT?
Sports NFTs are unique, verifiable digital assets created on the blockchain to represent digital trading sports cards, sports moments, digital memorabilia, and other types of sports items.
The issuance of sports NFTs will allow fans to connect with their favorite clubs and athletes in new ways, while also providing opportunities for athletes, clubs and sports brands to offer new monetization avenues.
For example, owning a limited-edition virtual memento of your favorite basketball team or a rare collectible card of your favorite baseball player is something many fans are happy to pay for. As a result, sports NFTs often trade for thousands of dollars (or more), and the values of some of the rarest pieces have risen significantly since they were minted.
Where can I buy Sport NFTs?
There are many marketplaces where you can buy sports NFTs. Take a look at two of the most active NFT marketplaces selling his sports-related NFTs.
OpenSea is the world’s leading NFT marketplace, enabling anyone in the world to create, sell and buy a wide variety of non-fungible tokens. From digital art and music to crypto collectibles and sports NFTs, the platform offers almost everything the NFT market has to offer.
Rarible is one of the leading NFT marketplaces where you can create, sell and buy various types of non-fungible tokens. “His community-focused NFT marketplace” sells NFTs representing PFPs (profile pictures), art, domains, music, and more. You can also buy NFTs from many of the major sports NFT brands on Rarible.
In addition to Ethereum (ETH) based assets, Rarible also supports NFTs running on Tezos (XTZ), Flow (FLOW) and Polygon (MATIC).
Founded by American football star Tom Brady, Autograph is a sports NFT platform that sells limited edition sports merchandise signed by Tony Hawk, Wayne Gretzky, Naomi Osaka and many more, including top-notch and former athletes.
Autograph supports NFTs running on Ethereum and Polygon.
Top Sports Card NFT Brands
In addition to high-profile athletes like Rob Gronkowski launching headline-grabbing NFT collections, a handful of sports NFT brands have emerged to capture the largest share of the sports NFT market. Let’s see them.
Sorare is a fantasy football trading card game that allows players to buy, sell, and trade collectible cards. The Sorare player acts as a soccer manager by creating teams of five soccer players using virtual cards, represented as NFTs on the Ethereum blockchain.
Each card represents a real-world soccer player, and his performance on the pitch affects his score.
NBA top shot
built by dapper lab (Also in charge cryptokitties), NBA Topshot is a virtual trading card platform on the FLOW blockchain, NBA Players AssociationNBA Top Shot NFTs are short videos that showcase notable slam dunks, 3-pointers, and other exciting game events called “moments.”
NBA Top Shot will reportedly reach a market cap of over US$1.1 billion in March 2022.
NFL All Day
NFL All Day was released as a trading card game at the end of the 2021 NFL season through a partnership between the NFL and Dapper Labs. The platform will allow fans to purchase and collect NFTs of his NFL players and memorable moments.
NFL All Day operates on the FLOW blockchain and had a market cap of US$68.15 million at the time of writing.
Another partnership to bring trading cards closer to fans is with Dapper Labs Ultimate Fighting ChampionshipSimilar to NBA Top Shot and NFL Allday, UFC Strike will offer fans the opportunity to collect virtual trading cards based on famous fighters in the form of NFTs created on the FLOW blockchain.
UFC Strike had a reported market cap of US$7.9 million in March 2022.
Should I collect sports NFTs?
Sports NFT made headlines due to the celebrity fascination with the athlete’s name attached to the high-profile drop.
Additionally, major NFT companies, notably Dapper Labs and Sorare, have successfully signed licensing deals with some of the world’s largest sports leagues, enabling sports fans to digitally engage with their favorite clubs and athletes in a whole new way. Did. Realm.
Sports NFTs have also enabled knowledgeable collectors to purchase suitable collectible cards and virtual memorabilia and sell them at the height of the 2021 NFT craze to make a substantial profit. .
The NFT market may not be as hot as it was last year, and while it was held down by a significant drop in the cryptocurrency market, the number of sports fans entering the NFT space is expected to boost the value of sports NFTs in the years to come. may be useful for
However, the NFT market is very volatile and collecting sports NFTs can result in a complete loss of funds if, for example, the NFT brand loses its licensing deal (like this year’s F1 Delta Time). . Therefore, anyone planning to purchase sports NFTs as an investment should not invest more than they can afford to lose as the chances of losing money in the NFT market are very high.
That said, if you’re a fan and willing to pay “any amount” to get the latest collectibles from your favorite club or athlete, Sports NFT might be right up your alley. I can’t.
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