19 July 2022
In order to find out why NFT and sports work so well together and why they are taking the sports world by storm, let us first understand what NFT is all about and how it can be used. The NFT market surpassed the $41 billion mark in 2021 and is shaking up a whole range of industries, primarily because an NFT allows digital assets that were once infinitely copyable and sharable to be identified as a one-of-a-kind asset, hens the name Non-Fungible-Token. This means that the original of a digital asset can now be sold like the original of an oil painting once was. And it is even possible to have an original painting represented in the digital world by an NFT or multiple NFTs, allowing multiple owners. But how can NFT and sports teams get in on the action with NFTs, and should they? But more importantly, how can you invest in NFT and sports teams.
Some of the industries that are getting into NFT right are the arts industry in particular. This is probably because it has suffered since the beginning of the digital revolution from endless copies devaluing its assets. This includes images, video recordings, audio recordings, film, and music production. There is no doubt that they are now saying they finally have some control over their copyrighted material. Not only can you make a high-value original, but you can also create self-destructing short-term rental objects, you can create auto-paying contracts for each time an asset is played or copied. You can build in other smart features in like the right to real-world objects like tickets or actual physical assets. In fact, the possibilities are endless for what you can do, and it is most likely that we are only just starting to see some of the new and innovative ways that NFT and sports will leverage NFTs in the future. Of course, so many industries are now finding uses for NFTs, and it is true that NFTs and sports are a perfect combination.
In the case of NFT and sports, athletes can now sell those great sporting moments in the form of an image or video NFT. There are also other ways to use NFT and sports together. Some athletes and teams are selling digitally created images as NFTs that have privileges attached to them, either in the real world in the form of tickets, VIP access, memorabilia access, or in the digital world in the form of game players, equipment, upgrades, and features.
Which sports stars are getting into NFTs
This is just a small selection of different sports, there are too many to list them all but suffice to say NFT and sports is the new kid on the block. A whole new set of industries for teams and athletes and new ways they can monetize and create new assets and engage and connect more directly with their fans and audience.
The French tennis athletes and 23 x grand slam champion, this year joined the board at Sorare which provides a global fantasy NFT and sports platform with over a million users worldwide. This may be no surprise for those who know her husband is Alexis Chanian a tech entrepreneur.
The 21-year-old Real Madrid athlete and striker plans to release a collection of artworks and remarkable moments in his career on NFT and sports.
He is one of many basketball league athletes that are offering great moments in his career on the Top Shot platform where one of his NFT and sports sold for $208,000 the Top Shot platform itself has now surpassed the $230 million mark in sales.
The first pro golfer to have his own line of NFTs so that fans can buy his collectibles which give access to a selection of bonuses including meeting the athletes, a set of golf clubs, and an autographed US-open flag.
In order to buy NFT and sports NFTs in particular, you will first need to buy some of the cryptos of the chain that they are on. Mostly this will be Eth for the Ethereum blockchain, which is the most common blockchain used for NFT and sports. It is not the only one though and an increasing number are now on Solana and other blockchains, with some are on their own proprietary blockchain. Either way, NextHash can help you with this stage, our OTC brokers can help you with large orders or if you are only starting small then you can buy on our exchange. Once you have some Eth on hand you are ready to join the action with NFT and sports on the Singularifty platform.
Once you have your NextHash account and have ordered some Eth ether via the NextHash trading desk or on NexInter our cryptocurrency exchange. You can load your Metamask wallet, and you are ready to get started on the Singularity platform including bidding for NFT and sports. There are detailed instructions on the website that take you step by step through the process of loading your Metamask wallet. Then you will be ready to start investing in NFT and sports.
When you are ready to get started with NFT and sports collectibles there is no better place to begin than Singularifty, the NextHash NFT trading platform. It provides secure and reliable NFT trading facilities at some of the lowest transaction charges in the industry. Combined with our suite of other services we offer a one-stop-shop for all of your crypto trading needs and an excellent place for athletes to launch their collection and for NFT and sports investments and trades.
Contact NextHash today to find out more and we will be happy to help you get started. NFT and sports teams appear to be one of the many futures for the world of NFTs.