19 July 2022
NFT stands for Non-Fungible-Token, it forms the basis of a blockchain technology that can provide a one-of-a-kind, digital representation of an asset, that asset may be in the real world or may itself be digital. First appearing in 2012 NFTs began to go mainstream in 2017 before exploding into the headlines in 2021 with a series of multi-million-dollar sales that really woke up investors to this new asset class. Whatever your interests there will be an NFT for you, but today many investors buy sports NFT due to the large market for sports memorabilia. In 2022 the sports NFT market is expected to generate over $2 billion in transactions, about double what it was last year (Financial Times), so this is definitely a market that is worth getting into.
One of the most successful NFT collections to date was the Bored Ape collection which has totaled over $1 billion and has been invested in by celebrities like Madonna, Justin Beber, Paris Hilton Timberland, Snoop Dogg, etc. NFTs are commonly used for digital images like this that are generated by a computer algorithm, they can also be used to represent digital photographs and video, this is where they have come into their own in the field of sport where you are now able to buy the video and images of some of the most memorable moments in sport of all time. When you buy sports NFTs you get to own those moments from your favorite team or sporting hero.
These are some of the top sports NFT collections of this year, but this is by no means all, there are new collections becoming available all the time so the market and opportunities for investors and sports fans are very exciting right now.
WWE wrestling inspired, the Blockchain Brawlers is an NFT game where the characters can be purchased as NFTs it has reached over $431 million in trading volume in the first 2 weeks of trading.
Instead of NFT artwork, this one is an NFT access passest that gives you access to activities off and on the pitch with the team, as lifetime passes when you buy sports NFTs.
This series purports to be the greatest hockey NFT collection on the Solana blockchain which contains a pixel art image of each player. There are 111 hockey legends that represent the top players and are more valuable and rare that are linked to physical collectibles and other benefits when you buy sports NFTs.
This is a formula One racing series, in an industry that is worth billions of dollars and millions of racing fans, and its luxury car brand, Ferrari makes an ideal candidate to enter the NFT arena when you buy sports NFTs.
This is an NFT that lets you earn as you exercise whether that be running or playing football. Users need to make an initial investment to buy the NFT then they can earn Green Satoshi Tokens and Metaverse tokens as they play.
NFT horse racing collection for use in a P2E game where players place their bets and participants get to share in the best if they win. Built on the Polygon blockchain and allows each of the holders that buy sports NFTs to get 1 DAO token as voting rights over the future of the project.
Built on the Solana blockchain (SOL) these NFTs give sports fans tickets to top sporting events and access to memorabilia, giveaways, fantasy leagues, and more. The collectionationaryiton is 10,000 pieces which are designed to be deflationary by buying back the cards and burning them to increase the holder's value and increased the chance of winning when you buy sports NFTs.
When you buy sports NFTs it can provide a platform for sports clubs and athletes to monetize their biggest moment in a secure format that is ideal as collectibles. So let us look at a selection of the most popular platforms to buy sport NFTs in 2022, in no particular order.
1. MLB Champions – This is short for 'Major League Baseball' Based on the Ethereum blockchain.
2. F1 Delta Time – Ethereum-based game that allows car parts in the game to be traded as NFTs.
3. Singularifty – Sports NFT trading platform based on the Ethereum blockchain.
4. Opensea – Multiblock chain general trading platform where you can also buy sport NFTs
5. NBA Topshot – The trading platform for the 'National baseball association' on the Flow blockchain.
6. Sorare – Fantasy football where you can buy players in the form of NFTs to build up your team.
7. Rob Gronkowski Championship Series – A partnership between this NFL player and OpenSea to sell his collectibles. Some come with tickets and the chance to meet him in person.
Even though to buy sports NFTs is a relatively new kind of asset class, we know the market growth is there and we also know that there has always been a market for sports memorabilia. NFTs are definitely not going away at this point so there has never been a better time to get into the market.
Singularifty is your trusted partner when it comes to buy sports NFTs, we also provide a range of other services to help you navigate the market in a way that is secure, convenient, and with low transaction fees. Speak with NextHash today for more information.