From ticketing to sports disability: How NFT is changing the sports industry
Professional sports have already proven that a product based on NFTs can appeal to a large number of people – and therefore deserves a detailed look: NBA Top Shots, the well-known pioneering project of the US basketball league, already has more than a million users: inside the short there Trade highlight clips. Europe’s big leagues have long since jumped on the bandwagon. The Bundesliga, for example, has partnerships with Sorare (NFT-based fantasy manager) and Topps (trading cards).
This year we will see the next steps of evolution: professional clubs from various sports will launch their own NFT projects in rows and initially raise existing revenue models to the blockchain – from autograph cards to season tickets to lifelong memberships.
Ticketing is the most obvious area of application here. The ticketing departments are currently underutilized due to the audience limitation caused by the pandemic and could initiate new solutions accordingly. Tickets can be linked via NFTs with additional access rights or catering options that can be traded at the same time.
At major events, the resale of tickets or the verifiability of final tickets, for example, will soon be controlled via NFTs – creative NFT projects such as that of this year’s Australian Open soon standard.
Individual athletes will also continue to monetize their popularity with the help of NFTs (superstars such as Tom Brady to Lionel Messi are already active here): In addition to their own collectibles, meet & greets and matchworn jerseys, promising talents could enable their fans to bet on their future: by sell percentages of future revenue from contracts and sponsorships as NFTs, e.g. B. protect against sports disability.
Artists can use NFTs to set the tone in music
Last year, the “Kings of Leon” were the first band to tokenize an album, the US rapper (and Coinbase-Investor) Nas and other artists sell shares of their streaming earnings as NFTs. Numerous musicians will follow these examples this year, and concert organizers will also use the ticketing potential of NFTs with a view to sport.
The fact that NFTs are often dropped in the form of auctions offers musicians the opportunity to exhaust their fans’ willingness to pay and to market themselves independently of large labels and promoters. A new form of crowdfunding that can be transferred to other areas (artists of any discipline, from Instagram influencers to portrait painters, could join).
“Is that real?” How NFTs relegitimize luxury
There will also be status symbols in the Metaverse, so it is only far-sighted that Gucci or Louis Vuitton are already testing the first NFT cases. So far, however, this has mainly been about branding. Several advantages of blockchain – transparency, traceability and security against tampering – are particularly attractive for industries that suffer heavily from counterfeiting. So this year we will increasingly see luxury items being sold at the same time as an NFT.
This isn’t just about offering a digital twin of the item to post in the metaverse. Hermés handbags, Patek Philippe watches, Catier necklaces: NFTs can be used as certificates of authenticity and ownership for such luxury goods. The unique nature of NFTs allows me to show that a luxury good is genuine and actually belongs to me – making it easier to resell it as well. No wonder that the sneaker platform StockX, where sneakerheads trade in rare sneakers, has recently integrated NFTs.
More trust in cars thanks to blockchain
At least since this tweet from Lamborghini is clear: NFTs do not stop at the automotive industry. Regardless of what exactly individual sports car manufacturers are planning: the most expensive goods that are resold in bulk are cars. In 2022, the first manufacturers will therefore link new cars to NFTs. Initially for marketing purposes, but in the medium term also to increase their resale value.
Because with the help of the blockchain, I can not only prove the number of previous owners of a car, but also provide reliable information about the repair and accident history. As soon as individual manufacturers offer this option, others will have to follow suit.
Block after block: NFT and real estate go well together
Houses and apartments are coveted investment objects in times of a sustained real estate boom. But in order to invest money in stones, one has to lay hands on large sums of money. Until now. Resourceful real estate marketers will change that this year – by making it possible to buy parts of a Berlin loft or Hamburg city villa via NFTs and thus participate in their value development with far less capital investment.
NFT instead of Instagram: Tourism can benefit
Austrian vignettes from the past winter seasons on the windshield, the Sylt sticker on the rear: anyone who comes around likes to show it. Business-minded tourism destinations will take advantage of this – by selling NFTs as proof of attendance. Climbed Mount Everest? Enter the Taj Mahal? Marveled at the beach from “The Beach”? With a badge on the blockchain, this can be proven once and for all in the future. As soon as one attraction offers this, many others will follow suit.
Doing good with NFTs: Non-Profit uses Non-Fungible
More and more charities are discovering the potential of NFTs. The technology is ideal for fundraising – not only because it is transparent and decentralized. Each NFT can be donated or auctioned off for a good cause, so that new funds are generated for the benefit of charitable projects from this new type of value creation. Vodafone showed the way with the world’s first SMS. In addition, NFTs can be set up so that royalties are donated with every resale – or even every time a charity video is watched and shared. The opportunities are numerous and are already being exploited, by a national park in Congo, as well as by corporations and individual philanthropists. NFTs are here to stay. With them you can not only earn money, but also do good.