From NFTs (non-fungible tokens) of trading cards to virtual pre-game events, sports and blockchain projects have become natural partners in the past few years. Sports franchises have much to gain from Web3, including unprecedented revenue and fan engagement opportunities, and sports blockchain companies are eager to help. Here’s how some sports teams are using blockchain technology to reach new markets.

The explosive growth in NFTs took even tech fiends by surprise, and that demand has been especially strong when it comes to sports tokens. An impressive 24% of American households have already purchased a digital asset, but if you’re looking at sports fans specifically, that number jumps to 34%. Sports organizations are eager to enter this market but need reliable partners who understand the nuances of blockchain.

As NFTs grow more and more popular, forward-thinking brands across numerous industries are warming to the revenue possibilities these digital tokens represent. Each industry benefits from its own particular advantages and tokenization in sports is a prime example. By taking real-world objects and tying them to NFTs, brands can more deeply engage fans even as they open up new revenue streams.

If sports collectibles are part of your brand, overlooking NFTs (non-fungible tokens) is an increasingly costly mistake. According to financial experts, this technology will help drive a 600% increase in the sports merchandise industry over the next decade — that’s almost $200 billion by 2032! That growth might be even faster, if not for an understandable lack of blockchain expertise among athletes and sports associations.

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.

Physical-backed NFTs are increasingly capturing the attention of investors and businesses, offering a novel approach to ownership that merges the tangible world with the digital.

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.