Digital Assets in Sports
The way people enjoy sports have changed significantly in the last five years, and especially in the last two, with the restrictions related to the Covid-19 pandemic in place. Outside audience was not allowed in in-person games and sports venues were limited to virtual audiences. Leagues, fans, teams, athletes and the entire sports industry had to rethink and come up with innovative ways to be involved, enjoy and engage in their favorite sports.
Virtual reality, metaverse, blockchain technology and digital collectibles are some of the technologies that were explored and utilized during this pandemic period. And even after sports arenas have opened their doors to excited fans, there is now a higher expectation to keep the fans engaged while inside the venue, as well as after the event. Brands, media, and sports organizations continued using these new technologies to boost engagement, communicate with fans in various channels, and incentivize the fans to watch more games, anticipate and join other future special events.
In between games, fans are continually engaged with their favorite athletes and sports teams by memorializing highlights and historical moments. Collecting digital assets, such as the ones from NBA Topshot, allow the fans to showcase their collections and support their favorite athletes and teams. This strategy enhances loyalty programs and encourages fans to return to watching games in-person again. Digital collectibles are ….
Sports Collectibles have been a trend for many generations. People have always collected trading cards, autographed merchandise like hats, bats, balls, shirts, shoes, posters, and items with momentous significance such as the ball that broke home run records, vintage sports merchandise, and other memorabilia. Nowadays, anyone can mint anything that could be of value to the avid collector and die-hard fan – including personal items and childhood photos never before seen on traditional media. These digital asset collections in sports can also be monetized, as the verified owners are able to generate revenue by reselling. The NFT Brewery is creating the infrastructure to make it easy for teams, leagues, and even amateur sports to jump in on the digital assets bandwagon.
Most Popular Applications
Let’s look at some of the most popular applications of digital assets and tokens in sports.
NBA Top Shot is the only officially licensed NBA collectible marketplace where collectors, gamers, and NBA fans can collect NBA Top Shot Moment collectibles. Hosted on the blockchain, NBA Top Shot allows users to purchase licensed highlight video clips of their favorite sports teams and historical NBA moments with cryptocurrency or a credit card. Further, users can showcase their collections and resell their digital assets.
Sorare is a fantasy football game that enables users to buy and collect digital assets featuring sports players and build virtual teams. Users can compete against other teams, while earning points depending on how their players perform in their actual games. The cards have different values and sell as common, rare, super rare, and unique.
Autograph is co-founded by famous quarterback Tom Brady. Autograph brings together the most iconic brands and legendary names in sports, entertainment and culture to create unique digital collections and experiences.