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Ben Plomion is Dibbs' Chief Marketing Officer. As a child, Ben collected comic books and Panini Football stickers. Now, Ben's PC consists of physical-backed NFTs.
There are many types of collectors in the world, but few are as enthusiastic as sports fans. Between baseball cards, signed jerseys, and other valuable items, the sports memorabilia market will reach $33 billion this year. Yet the market isn’t finished growing — experts predict it will surpass $200 billion by 2032, thanks in no small part to revenue generated by sports NFT projects.
The NCAA made $1.15 billion in revenue during 2021, showing just how ingrained college sports is into our culture. While that’s a formidable chunk of change, college athletes couldn’t claim a piece of the pie for years, despite creating most of the value. Luckily, the NCAA has changed its rules, and college athletes can pursue financial freedom through name, image, and likeness (NIL) deals.
Music NFTs are opening a whole new world of monetization for businesses and brands. Non-fungible tokens (NFTs) allow music creators and collectible sellers complete control over the sale of their music and assets, offering higher returns and better security than traditional methods.
The idea of a "physical-backed NFT" may sound like a contradiction in terms. NFTs often refer to digital things you can truly own, so what does it mean to have a physical-backed NFT?
As the world continues its digital shift, asset tokenization is allowing fans to bring their physical memorabilia into the electronic world. Now, businesses can help with the transition while making money along the way, tokenizing their own assets as physical backed NFT collectibles. Here’s a complete breakdown of how the tokenization of assets works, the benefits it brings, and how organizations can get involved.
The blockchain is everywhere. While the explosive growth of the NFT market cap revealed many of the ways it can add real value to digital assets, the possibilities for tokenizing physical assets are only beginning to be charted.
The blockchain boom has led to both explosive successes and staggering false starts. A great way to tell one from the other before you invest is simply to consider how practical it is. One of the most practical applications of the blockchain yet is the tokenization of physical assets, thanks to the way it bridges the flexibility of NFT marketplaces with the value of real-world goods.
NFTs aren’t just changing the digital media landscape — they are also transforming how we purchase and engage with real-world items. It’s all thanks to innovations that let brands and businesses tokenize physical assets and establish a direct connection with customers and fans. These changes already influence collectible markets but will soon extend to all industries, from fashion to iconic guitars. Given the scope of these changes, it’s vital to understand how the tokenization of physical assets will disrupt and benefit businesses and customers alike.