Blockzeit
  • News
    • Bitcoin News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • AI
    • Markets
    • Investing
    • Technology
    • Trends
    • Switzerland
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
No Result
View All Result
  • EnglishEnglish
    • EnglishEnglish
    • DeutschDeutsch
    • PortuguêsPortuguês
  • News
    • Bitcoin News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • AI
    • Markets
    • Investing
    • Technology
    • Trends
    • Switzerland
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
No Result
View All Result
Blockzeit
No Result
View All Result
Home NFTs

The Future of Sports Lies at a Cross-Section of Crypto and NFTs

Tom Nyarunda by Tom Nyarunda
March 14, 2022
in NFTs
Reading Time: 3 mins read
0
NBA Top Shot Press Logo Collectibles

NBA Top Shot Press Logo Collectibles

Share on FacebookShare on TwitterShare on LinkedinShare via WhatsappShare via Email

PwC lists tokenized tickets, NFT media rights, and the sponsorship of digital or metaverse events as a catalyst for rapid industry growth. The report says the three primary use cases for NFTs will alter sports technology infrastructure and drive fan engagement.

A new report by PriceWaterhouseCoopers (PwC) says non-fungible tokens (NFTs) are the future of digital assets in sports. According to the report dubbed Sports Outlook 2022, NFTs can fundamentally alter how fans consume sports and interact with their favorite teams.   

Citing different factors such as changing sports technology infrastructure to driving fan engagement, the report pointed out three prominent use cases for NFTs in the sporting industry. The first among them is NFTs, referring to the platforms that sell collectible, authenticated, and limited-edition digital content, most of which have already been adopted in mainstream sports. 

Among the most successful ones include NBA Top Shot by Dapper Labs

The report specifically mentioned digitization, minting, and trading of players’ trading cards – such as the ones fronted by Paris-based Sorare – match tickets and other materials that can be placed on the blockchain and have the potential to be shared across the metaverse. Among the most successful ones include NBA Top Shot by Dapper Labs.

Season Ticket Member (STM) NFTs are another essential use case. They provide season ticket members with verified tokenized passes that would elevate the experience of an already loyal fan. STMs used to have access to additional unique content, and stadium experiences could also receive special edition collectible NFTs for the games they attended. And sponsors could benefit too if the teams they sponsor enable them to ensure those customers who lose their physical tickets wouldn’t lose any added benefits.

Finally, virtual access tokens are meant for fans that prefer paying a premium fee for a virtual experience but may not wish to attend games in person, which are expected to be in demand. Described as a new version of season tickets, virtual access tokens will give owners more behind-the-scenes perks such as player cams, bench cams, or even virtual locker-room access.

 Tokenized tickets and NFT media rights to propel the industry’s growth

Paris-based Saint Germain and Manchester City are among the leading soccer clubs that have had a successful experience with their fan tokens that have the right to influence non-strategic game-day decisions, such as walk-up music. With interest in the metaverse and related spaces spiking to new highs, these virtual tokens would become much more in demand.

As per the PwC report, ticket sales, sponsorships, and media rights are the most significant revenue streams for the teams and the leagues. It also expects tokenized tickets and NFT media rights to propel the industry’s growth, saying that digital asset sales could also become a huge revenue stream. The report added that for this to happen, the teams would need a tech stack that connects their new digital sales data with the existing customer database and a strong legal team to handle all the tax rules.

etoro add'
Previous Post

Singapore Imposes Tax to Income Generated from NFT Transactions 

Next Post

EU Parliament Votes against Proposal to ban Proof-of-Work Mechanism   

Tom Nyarunda

Tom Nyarunda

Tom is a freelance writer with over 10-years’ experience in writing in the blockchain and cryptocurrency niche. As a philosophical figurehead, he believes that to make our world a better place, we must invest in incorruptible products and procedures, of which Bitcoin and other cryptocurrencies are leading examples.

Related Posts

IOTA DID

An Examination Of IOTA 2.0’s New DID Tool

by Giancarlo
December 7, 2023
0

Stardust upgrade was recently launched with a host of refinements for the IOTA ecosystem. One of them was Identity 1.0...

Axie Classic

Axie Classic Is Back: Axie Classic’s Exciting New Features

by Deduyo Roi
December 7, 2023
0

“Axie Classic is Back.  — Jihoz” Axie Classic recently announced updates on its once massively popular game mode Axie Classic. The...

Endless Clouds

Endless Clouds Secures $2.5M+ Funding Boost

by Deduyo Roi
December 6, 2023
0

Endless Clouds, the company behind Web3 games Treeverse and Capsule Heroes, has announced securing over $2.5 million in funding from...

Load More

latest News

Mocaverse

Animoca Brand’s Mocaverse Secures $11.88M In Second Funding Tranche

December 10, 2023
Brian Snyder on crypto

Crypto Are One Of The Main Topics During The Recent Republican Presidential Debate – Details

December 9, 2023
Binance Abu Dhabi

Binance Withdraws License Application to Operate in Abu Dhabi

December 8, 2023
JPMorgan CEO Jamie Dimon

JP Morgan CEO Jamie Dimon: Governments Should Shut Down Bitcoin & Crypto – Details

December 8, 2023

Get updates to your inbox!

Subscribe to our mailing list to receive daily updates!

Bitvavo Referral

FOLLoW US:

Blockzeit Logo 10 1

Blockzeit was founded in 2021 in Switzerland with the mission of bridging the gap between the complex blockchain technology and the general public. Blockzeit is a news and education platform that aims to make blockchain more accessible and bring more transparency to the scene.

Popular Categories

Categories
  • AI
  • Bitcoin News
  • Blockchain Terms
  • Business
  • Buy Cardano
  • Buy Crypto
  • Comunicado de Imprensa
  • Education
  • Events
  • Investindo
  • Investing
  • Markets
  • Metaverse
  • Metaverse
  • NFTs
  • Politics
  • Press Release
  • Sponsored
  • Switzerland
  • Technology
  • Trends
  • Uncategorized

Important Links

  • Privacy Policy
  • Disclaimer
  • About us
  • Contact us
  • Blockchain Jobs
  • Events

Contact & Social

For guest posts, contact us via [email protected]

 

Contact: [email protected]
Press: [email protected]

Facebook Twitter Linkedin Instagram
  • Home
  • Markets
  • Investing
  • Technology
  • Trends
  • NFTs
  • Education
  • Events
© Copyright by Blockzeit.com. All rights reserved.

Disclaimer

Claim your €10 Bitvavo Welcome Bonus

Sign Up Now
No Result
View All Result
  • News
    • Bitcoin News
    • Business
    • Politics
    • Metaverse
    • NFTs
    • AI
    • Markets
    • Investing
    • Technology
    • Trends
    • Switzerland
  • Tools
    • Crypto Charts
    • Crypto Heatmap
  • Education
    • Reviews
    • Guides
    • Bitcoin Price Analysis
  • Crypto Exchanges
  • DeutschDeutsch
  • PortuguêsPortuguês

© 2021 Blockzeit by Blockzeit.

Subscribe Our Newsletter

Signup & Get Latest Updates on Crypto