NFT is an innovative technology that can turn digital content, which lacks security against copying and tampering, into a one-of-a-kind asset.
NFT has created a variety of interesting contents, including SORARE, which I stare at the score every day.
However, as I have more and more opportunities to come in contact with NFT in this way, I have come to realize that there are many other items released in the sports industry.
This time, let’s take a look at the new faces of sports that have been making people’s hearts sing for a long time, such as basketball and baseball, not to mention soccer.
Fan tokens in particular are a great way to cheer for your favorite team.
- There are four major sports-related NFT
- Digital art of famous players
- The impact of NFT on the sports industry
- Recommendations for NFT x Sports
- If you want to challenge sports-related NFTs, I recommend SORARE.
There are four major sports-related NFT
There are four main types of sports-related NFTs, and all of them have attractive contents that grab the hearts of fans.
Here is a brief overview of each of them.
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.
This is probably because the art models are created by a small number of star athletes with outstanding achievements, and the creators are famous artists who are active in Hollywood.
– 1,282 goals
– 1,363 games
– The highest valued soccer trading card.
The first authentic #aNFT ⚽️
— ETHERNITY (@EthernityChain) April 16, 2021
For this reason, for example, the number of soccer players currently on the market is limited to those that even people who are not familiar with soccer know, such as Messi, the savior of the world, and Pele, another legend, following the hero Maradona.
NFT trekking is now the mainstream of the sports industry.
They are NFT versions of cards of actual players, such as NBA Topshot (basketball) and SORARE (soccer), which I will introduce later.
The fact is that trekas have been around for a long time in paper form, so it is only natural that they have been sublimated into NFT form.
Nowadays, there are blockchain games authorized 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 to see the same beautiful graphics as in Winning Eleven games.
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 own characters that you have developed in the marketplace is a way of playing that is possible because of NFT.
Fan tokens are indispensable when talking about sports-related NFTs, but for those who don’t associate tokens with NFTs, let’s start with some basic knowledge.
The official name of NFTs is non-fungible tokens, meaning that they are not replaceable. In other words, replaceable tokens (fungible tokens) refer to virtual currencies that most people already know about.
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 fan tokens.
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 participate in special events or vote for the entrance music.
If you have fan tokens for your favorite team, you can buy them as a show of support.
The impact of NFT on the sports industry
I would now like to explain how the NFT has affected the sports industry.
It is possible that the NFT will spread to more genres in the future, so please refer to it.
Great economic effect
Since contracts with sports organizations are essential for the sale of NFTs, the proceeds will naturally be distributed to the rights holders.
Also, since fan tokens lead to more direct revenue, it’s also an important source of funds for the healthy operation of the team.
In fact, there is some funding from sponsors, but the cost of training camps, training machines, and compensation for players is quite high every year, so I’m even thankful that the NFT has come into play to help keep the players’ performance up.
And especially since the new coronavirus should have reduced the ticket sales of spectators to almost zero since early 2020, the economic effect may be greater than expected.
The widespread use of blockchain games and trekking will naturally attract more publicity than ever before, which will lead to the acquisition of fans.
As a matter of fact, when you trade in SORARE, you will be checking every day the track record of players whose teams and names you did not even know, so you may find yourself in an interesting situation where people who only want to resell players know more about them than fans who like a particular team.
The presence of your favorite team becomes closer
In addition to the right to participate in events, fan tokens can also be used to vote on the management policies of teams, depending on the percentage of your investment.
Of course, it’s nice to be able to be deeply involved with a team that you’ve been rooting for for a long time, and it’s going to give you a sense of unity in fighting together rather than just watching a game.
Unfortunately, only a few teams are currently issuing fan tokens, so it would be interesting if not only professional teams but also local teams and business corporations try to adopt this as a major management method in the future.
Recommendations for NFT x Sports
Next, I will explain the recommendations for sports-related NFTs.
These can be used not only to support teams and players, but also for simple resale, so please refer to them when considering them.
Reference: NBA TopShot
NBA Top Shot, which is a trekker that features videos of star players playing in the NBA, the pinnacle of basketball, has become so popular that it has generated revenues equivalent to about 40% of the entire NFT.
For example, LeBron James, who has been at the top of the game since he was a youngster, has been sold for over 20 million yen, and Yannis, the MVP for two consecutive years, has been sold for as much as 10 million yen.
Another interesting method is to buy a pack of 10 cards for about 100,000 yen to get a rare card. The retro method used in print media to stimulate the desire to buy has been brought to the NFT stage, and has generated such a large amount of revenue.
Reference: FC Barcelona
Funtokens are a good way to support your favorite team.
The following organizations are currently publishing them, so if you have a genre or team you like, visit their official website as soon as possible.
A mega club in soccer. I heard that they had to let go of their mainstay Messi due to 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.
The Shonan Bellmare of the 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 is not yet an industry-wide effort, but we can expect it to spread further in the future.
SORARE is a groundbreaking system that links actual game results to the score of the trekker.
Of course, the higher the score, the higher the resale price, and most importantly, the more fun it is to create your own multinational team!
By the way, in SORARE, players who are no longer in the league can’t be used in the game, so this realistic system has really captured the hearts of fans like me.
If you want to challenge sports-related NFTs, I recommend SORARE.
In this article, I have tried to explain the impact of NFT on the sports industry and specific NFT items.
For the sports industry, which has experienced a global decline in revenue due to the coronavirus, the economic effect of NFT is immeasurable, and if various contents are developed, it will be more exciting than ever.
And if the contents of this article have sparked your interest in sports-related NFTs, please consider debuting 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.
- There are still few types of fan tokens.
Of course, it costs tens of thousands of yen to obtain cards, but it is not as expensive as NBA TopShot.
Also, depending on the nature of the real game, players on your team can go for unthinkably high prices, and you can even get rewards in the in-game league, so if you’re looking for some variety and fun, SORARE is especially for you!