Cryptocurrency in sports is no fad. Since the earliest mainstream crypto partnerships in the mid-2010s, the two markets have grown increasingly intertwined, and for good reason. Cryptocurrency’s rising profile has made it especially popular among fans left out by traditional sports engagement tactics. Here’s how some of the most recognizable franchises have broken into cryptocurrency.
Sports collectibles are as old as the games themselves, with memorabilia like trading cards, apparel, and autographed equipment preserving the history of these beloved pastimes while deepening the personal connections fans develop with their teams and players of choice. Now, NFT (non-fungible token) sports collectibles offer brands and fans alike the chance to push their passions into the future, deepening their bond and driving revenue along the way by turning those items of historical record into eternally preserved digital collectibles.
Whether it’s a video of Aaron Judge’s 62nd home run or a Kobe Bryant-inspired digital art collection, NFTs in sports are here to stay. Fans, players, and professional leagues have embraced NFTs as a new way to engage with each other and create content around their favorite sports.
With almost 60% of avid sports fans participating in NFT (non-fungible token) trades, the time is now to bring your own sports brand to Web3. Thankfully, you don’t have to go it alone; tons of new sports NFT companies are coming along for the ride, each with a unique spin on how to capture this growing market. Before we get into breaking down five of the most promising examples, let’s define what we mean when we talk about “sports NFT companies.”
Sports NFTs are a growing market, with players and teams vying to tap into the new demand for digital collectibles. Marketplaces from some of the biggest names in NFTs as well as sports-specific platforms are competing for your attention — and your business. With so many options to choose from, finding the best sports NFT marketplace to match your team’s brand, or your personal brand as an athlete, takes some research. Fortunately, we’ve already broken down six of the most promising contenders to help you start engaging with and monetizing your fans in exciting and secure ways.
The market for non-fungible tokens has exploded in recent years, bringing windfalls to savvy creators and collectors alike. The inherent collectibility of NFTs makes them a natural avenue for professional athletes, as well as a compelling way to bridge the ever-present revenue gap between people who make sports happen (the players) and the people who really rake in the money (the owners).
Music plays an important role in life, underscoring our highest highs and lowest lows. The personal connections that fans create with their favorite music may even form the basis of their cultural identity — and now that connection can go deeper. Bands and other music businesses can offer their own NFTs to connect with their fans, leveraging digital marketplaces to create recurring revenue streams. No matter how an organization chooses to make its foray into the NFT music world, it all starts with finding the best NFT marketplace for music to fit its needs.
Monetizing one’s property and collectibles with NFT tokenization can be lucrative, but it requires more than the blockchain. Since the value of each token depends on a physical asset, NFT marketplaces must guarantee that each item is authentic and its condition will not degrade over time. For these reasons, appraisal and vaulting solutions have become essential components of NFT trading.
The internet has changed the way that consumers interact with their favorite brands and IP, with social media giving them a direct line to interact with the companies they love the most. However, a new era of the internet is rapidly approaching, and with it, new opportunities for organizations to connect with their fans. The big innovation? Tokenization - the secure digitization of physical goods that allows for a new type of asset ownership.
Cryptocurrency, NFTs, DeFi tokenized assets — the tech world has been buzzing with these terms for the last few years, but many companies remain unaware of asset tokenization and its potential for delivering new streams of revenue. It’s understandable; the tokenization of physical assets is still a relatively new concept, as well as being technically complex. Still, many businesses are finding that knowing the ins and outs of asset tokenization is a worthwhile endeavor, especially with so many untapped market opportunities. If you’re ready to dip your toe into the exciting world of web3, read on to learn more about tokenized assets and how they can boost your brand.