The sporting world has not only embraced cryptocurrency but has jumped into the latest trend within the crypto world, NFTs. Cryptocurrencies are being adopted at a fast rate, and a few weeks ago, high figures within the sporting world such as Stephen Curry and America’s Major League Soccer, French superstar Kylian Mbappe and his club Paris Saint-Germain have all staked their claim in the potential-laden industry.
Within the crypto world, NFTs have proven to be the new bait attracting thousands and millions to the eye-popping opportunities locked up within the space, and the latest to join the trend is the NFL which would be introduced into the world of NFTs by Dapper Labs.
Dapper Labs Partners with the NFL
According to reports, the National Football League (NFL), NFL Players Association (NFLPA), and Dapper Labs, the creator of famous NFT ventures like NBA TopShot and CryptoKitties, are intending to build an American football-themed NFT marketplace.
This deal offers a series of potentials and lucrative rewards for both parties as it would see Dapper Labs become the second biggest source of digital licensing revenue for the NFL Players Associations coming behind EA Sports’ video game franchise, “Madden.”
Like the baseball NFT marketplace, the new NFT for the NFL will run on the flow blockchain and is widely speculated to be out during the current NFL season, which finishes on the 9th of January. This new marketplace, similar to the famous NBA TopShot NFT platform, would allow users to purchase and sell trading card-like NFTs of NFL sports highlights.
Dapper’s primary focus will be to put out mind-blowing video content for this partnership like it did with its successful basketball product, which raked in about $780 million in collectibles since the year began, showing how popular and in-demand it has been.
The Dapper Expansion
Dapper Labs has been bent on expanding its frontiers and has been raising funds to back its ambitions of spreading cryptocurrency to various industries and entering into partnerships with some of the top brands. Reports revealed that Dapper Labs received $250 million in fundraising earlier this month, which shot its total worth to $7.6 billion. This would not be the first funds the crypto platform has raised. Earlier this year, Dapper Labs raised $305 million, which is used to finance and sponsor several projects.
NFTs are Changing Sports
Although NFTs have largely grown popular within the art world, the potential of merging them with sports seems to be irresistible. For instance, the NBA Top Shot provides basketball lovers with the right marketplace to buy and sell highlight video clips of classic basketball games.
Fans are delighted in being able to purchase athletes’ valuable belongings, and the platform is soaring in popularity and is said to have received around $500 million in sales so far.
NBA Top Shot is not the only NFT based sports marketplace. Sorare is another crypto project changing the sporting world with its Fantasy football game where players can manage their favorite team and earn rewards. All these show that the crypto revolution has huge potential of bringing in more revenues and excitement to sports lovers.