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.”
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.
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.
Dibbs: Dibbs was Amazon's first blockchain-based investment and also their first collectibles marketplace investment. How has that relationship grown over the past year?
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.
Chris Pantoya, Chief Commercial Officer and Head of Strategy at Fan Controlled Sports + Entertainment sees a new future for sports, where fans have the power to call plays, sub players and more. Their NFT extension, Ballerz Collective, aims to give fans the ability to do even more by buying tokens that allow them to get real-world access and VIP experiences, additional game play power and more. We spoke to her about her vision for Web3 and its potential to reshape fandom.
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.
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.