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For some, an NFT is an emotional thing. Not everybody’s in it for the money.
Many have tried, most have failed, but that shouldn’t temper your curiosity. In the core NFTs are a proof of property. And there is much to say about digital property nowadays. Just like in real life, you see applications popping up when we deal with pièces uniques like collector's items. But also when talking about a certain spectacular moment in time you never ever want to forget about. A moment that holds symbolism—something sports are full of. NFTs are a way to build a community, democratise creatorship and engage with fans. It’s a way to digitise property or foster what you care about. Doesn’t sound all too bad, now, does it?
As is
You can’t watch a game in the play-offs without Coinbase ads popping up. Nobody believed that would happen when Bitcoin first saw the light. Neither did we foresee Wout Van Aert’s victories being sold as an NFT for 47,000 euros. Absolutely nobody could imagine that back when Merckx was still running the show. However, it’s 2022, cryptos are here and they are making a mark. The blockchain technology has proven its added value in a number of applications, of which the crypto market and NFTs might be the ones making the most money. And the most fuss.
The biggest newcomer in sponsorship is crypto.
Could be
It’s difficult not to be distracted by the stories of the Wild Wild West. Scams, insecurities, hesitant governments and a bunch of questions mark the birth of NFTs. But so do art, community building, innovation, democratisation and ambition. All beginnings are difficult, but they are even harder to undo. So get on board with your brand. Ask the difficult questions. Take the risk and invest a bit, because this is the time when we all get to decide what the added value of crypto and NFTs will be. Will they boost social cohesion between fans and their idols, or will it just benefit the few? How is the question, not when. Because you can be sure blockchain technology and applications like NFT’s will revolutionise the sports industry. Experimentation and strategic leaps are what will keep you relevant.
After all our experiments in crypto, AR and VR, we know it works. The next question is: how can the fans benefit and contribute even more?
