NFT is a revolutionary technology that turns digital content, which lacks security against copying and tampering, into a unique asset.
It’s created a lot of interesting content, including SORARE, which I stare at every day to keep score.
However, the more I come into contact with NFT, the more I realise that there are many other items being released in the sports industry.
In this article, we’ll take a look at the new faces of sports that have long inspired people’s hearts, such as football, basketball and baseball.
Fan tokens in particular are a great way to cheer on your favourite team.
- There are four main sports-related NFTs
- The impact of the NFT on the sports industry
- NFT x Sports recommendations
- If you're looking for a sports-related NFT challenge, SORARE is the way to go!
There are four main sports-related NFTs
There are four main types of sports-related NFTs, all of which are sure to appeal to fans.
Here’s a brief overview of each.
Digital art of famous players
Digital art of famous players NFT is probably the most standard business model, but the number of items itself is surprisingly small.
The reason for this is probably that the art models are only a few stars with outstanding achievements and the creators are famous Hollywood artists.
– 1,282 goals
– 1,363 games
– The highest valued soccer trading card.
The first authentic #aNFT ⚽️
— ETHERNITY (@EthernityChain) April 16, 2021
This is why, for example, the number of footballers currently on the market is very small, as even those who don’t know much about football know only Messi, the saviour of the game, and Pele, the legend, after Maradona.
NFT trekking is now a mainstay of the sports industry.
They are NFT versions of cards of real players, such as NBA Topshot (basketball) and SORARE (football), which can be used to compete with other players or just to collect and look at.
In fact, trekas have been around for a long time in paper form, so it’s only natural that they’ve been sublimated into NFT form.
There are now blockchain games sanctioned by professional sports leagues.
However, blockchain is still in its infancy when it comes to processing the detailed movements of characters, so you can’t expect the same beautiful graphics as Winning Eleven on a console game.
To put it simply, it’s like a smartphone game from a long time ago, where you place cards of players on the court and compete for their abilities.
However, the point where you can sell your developed character in the marketplace is a way of playing that is possible only because of NFT.
Fan tokens are an essential part of the sports-related NFTs, but for those who don’t know what tokens and NFTs are, let’s start with the basics.
The official name for NFTs is non-fungible tokens, meaning that they are not replaceable. In other words, replaceable tokens (fungible tokens) are virtual currencies that most people are already familiar with.
There are also two other types of tokens, one of which is security tokens, which are digitized securities, and the last remaining utility token, which is a kind of service voucher specialized for fundraising for organizations and companies, also known as funtokens.
So, fan tokens are issued by club teams or baseball teams to raise operating funds from their fans, and in exchange, the fans have the right to attend special events or vote on the entrance music.
If you have a fan token of your favourite team, you can buy it as a show of support.
The impact of the NFT on the sports industry
We would like to explain how the introduction of the NFT has affected the sports industry.
The NFT is likely to spread to many more genres in the future, so please take a look at it.
Great economic impact
The sale of NFTs requires a contract with a sports organisation, so the revenue will naturally be shared with the rights holders.
Fan tokens are also an important source of funding for the healthy running of the team, as they lead to more direct revenue.
In fact, there is some funding from sponsors, but the training camps, training machines and remuneration for the players cost us a lot of money every year, so we are even grateful that the NFT has come along to help us maintain the performance of our players.
And especially since the beginning of 2020, when spectator ticket sales would have been almost zero due to the new coronavirus, the economic impact may be greater than expected.
The widespread adoption of blockchain games and trekking will naturally attract more publicity than ever before, which will help to attract fans.
As a matter of fact, when you trade SORARE, you will check every day the achievements of players whose teams and names you did not even know, so you may find yourself in an interesting situation where the resellers know more about a player’s name than the fans who like a particular team.
A closer look at your favourite team
Fan tokens not only give you the right to attend events, but also to vote for the management of your team, depending on the percentage of your investment.
Of course, it’s nice to be involved in a team that you’ve supported for a long time, and it’s more than just watching a game, it’s a feeling of togetherness.
Unfortunately, only a few teams issue fan tokens at the moment, so it would be interesting to see this become a major management method in the future, not only for professionals but also for local teams and industrial companies.
NFT x Sports recommendations
Next, we will explain our recommendations for sports-related NFTs.
Not only can they be used to support teams and players, but they can also be used simply for resale, so please refer to them when considering them.
Reference: NBA TopShot
The NBA Top Shot, which is a treca of videos of stars playing in the NBA, the pinnacle of basketball, is so popular that it has generated revenues equivalent to about 40% of the total NFT.
For example, LeBron James, who has been at the top of his game since he was a youngster, has sold for over 20 million yen, while Yannis, the MVP for two consecutive years, has fetched around 10 million yen.
One of the most interesting ways to buy a rare card is to buy a pack of 10 cards for around 100,000 yen. This is a retro approach to purchasing that has also been used in print media and has been brought to the NFT stage to generate such a high level of revenue.
Reference:: FC Barcelona
Funtokens are a great way to support your favourite team.
The following organisations currently publish them, so if you have a genre or team you like, visit the official website as soon as possible.
The mega club of football. They had to let go of their mainstay Messi because of the decline in revenue from the Corona virus…
However, the revenue from fan tokens has already exceeded 100 million, so I hope they will continue to make money.
Shonan Bellmare of J-League is the first team in Japan to use Fan Token.
A professional basketball team in Japan that focuses on serving its fans and developing children who love basketball.
As you can see, it’s not yet an industry-wide initiative, but we’re hopeful that it will become more widespread.
SORARE is a groundbreaking system that links actual match results to the score of the trekker.
Of course, the higher the score, the higher the price you can resell it for, and most importantly, the more fun it is to create your own multinational team!
In SORARE, players who are no longer in the league can no longer be used in the game, which is a very realistic system that appeals to fans like me.
If you’re looking for a sports-related NFT challenge, SORARE is the way to go!
In this article, I have tried to explain the impact of NFT on the sports industry and specific NFT items.
The economic impact of the NFT on the sports industry, which has suffered a global decline in revenue as a result of the coronavirus, is immeasurable and the development of a variety of content will make it more exciting than ever.
And if this content has sparked your interest in sports-related NFTs, consider making your debut on SORARE for the following reasons
- NBA TopShot is expensive at 100,000 yen per pack, and the probability of not getting a rare card is higher.
- Fan tokens are still scarce
Of course, it costs tens of thousands of yen to get the cards, but it’s not as expensive as NBA TopShot.
Also, depending on the real-life game, the players on your team can be unthinkably expensive, and you can be rewarded with in-game leagues, so if you’re looking for some variety, SORARE is especially for you!