<p>Inks has been spilled about non-fungible tokens in almost every corner of our daily lives. Just a month ago, you can scan “NFT” keywords in headlines relating to automotive industry with the name of big brother - Ducati after it declared plans to work with NFT PRO and Ripple to launch its first NFT line. Even Shopify, a top-notch e-commerce platform, decided to further integrate more NFT options for online retailers. </p><p>The fact that NFTs blend in the sports sphere is not new. Sports can gain certain benefits from the optimal solution provided by blockchain, which hopes to increase the accessibilities from consumers to sports.</p><p class="prosemirror-p-center"><img src="https://cdn.builder.news/news/11ed13e190cbbb4da8e6023f659fee92.jpg" alt="NFTs and sports" title="NFTs and sports" width="600" height="336" class="lykafe0"></p><p> </p><p>Numerous NFT use cases have been introduced to billions of sports fans worldwide, which enhance the fact that the waves of NFTs in sports can’t stop from thriving. Recently, Binance announced its supports in selling NFT football tickets to Lazio Club right after collaboration with CR7’s NFT collection. In the meantime, FC Barcelona's first official NFT sold for $693,000, which proves digital assets has priceless value to their consumers. </p><p>With those hot news, if you are both an NFT enthusiast and sports lover, you will not miss this golden time to express your interest while earning exorbitantly-priced assets. But if you are still skeptical about the practicality of the subject, let's find out what exactly the impact of these digital tokens on the sports industry is with <a href="https://www.builder.news/" alt="Builder.news" title="Builder.news" target="_blank" rel="" class="">Builder.news</a>. </p><h2>When NFTs and sports first met</h2><p>Each NFT is a distinct asset that may be wholly digital or represent a tokenized representation of a physical good. One of the most recent applications of NFTs is in sports. They provide new opportunities for fans to communicate with and support their preferred teams. Sports NFTs can be compared to the conventional football or basketball player trading cards. These actual cards are converted via blockchain technology into a variety of NFTs that sports fans may acquire, including memorabilia, gifs, video highlights, game badges, and much more. Additionally, they can be traded on NFT marketplaces like the Binance NFT Market. Some sports NFTs additionally function as a type of fan club membership that grants holders exclusive benefits including entry to meet-and-greet occasions with athletes.</p><p class="prosemirror-p-center"><img src="https://cdn.builder.news/news/11ed13e190cbc950a8e6023f659fee92.jpg" alt="NFTs and sports" title="NFTs and sports" width="600" height="400" class="lykafe1"></p><p><em><strong>&gt;&gt;&gt; Related:&nbsp;</strong></em><a href="https://www.builder.news/crypto-insights/despite-the-markets-crash-the-world-is-heading-to-nfts-PMWWe" alt="Despite the market's crash, the world is heading to NFTs" title="Despite the market's crash, the world is heading to NFTs" target="_blank" rel="" class=""><em><strong>Despite the market's crash, the world is heading to NFTs</strong></em></a></p><h2>NFTs facilitate sports using top-notch blockchain technology</h2><p>NFTs transform the idea of sports memorabilia by enabling fans to possess the cards of their favorite players and even game videos. They give sports organizations the chance to build enduring bonds with their supporters.</p><p>The way sports companies connect with their fans is likewise changed by NFTs. Teams can increase fan involvement by giving members special benefits and occasionally even an opportunity to have a say in key governance issues.</p><h3>New Source of revenue</h3><p>Sports teams may receive more income if they issue NFTs. Traditionally, the three main sources of income for clubs and leagues are ticket sales, media rights, and sponsorship. Things have been changed if NFTs join the race. Even in the midst of a pandemic, teams can use NFTs to tokenize game tickets, stream live games to token holders, or plan holder-only events in the metaverse. Due to tokenized tickets, NFT media rights, and sponsorship of digital or metaverse events, all three could experience enormous development. In fact, it wouldn't surprise us if in the following five years sales of digital assets rank among the major sources of income for a lot of teams and leagues.</p><p> </p><h3>Expanded brand recognition</h3><p>To include their fan base, individual sportsmen might launch their own NFT collections. Athlete NFTs create a bond between the player and their committed fans, just like trading cards do. For instance, fans can showcase keepsakes of their favorite players on social media to display their team colors.</p><p>Athletes can also protect their intellectual property rights by issuing NFTs on their own. As NFT creators, they are entitled to royalties from the sales of their NFTs, which might provide them with some breathing room and financial security after they retire.</p><p>Sport NFTs are excessively valuable because it may be used anywhere and have the potential to be scarce. Additionally, the fact that every fan who purchases an NFT creates a digital trail. Because teams and leagues are so aware of whose fans have these assets, sponsorship might develop into a significant source of income. To put it another way, digital resources and the metaverse open up a brand-new environment where teams' brand equity may be used to promote events and sell tickets to a targeted group of audience.</p><p class="prosemirror-p-center"><img src="https://cdn.builder.news/news/11ed13e190cbcf56a8e6023f659fee92.jpg" alt="NFTs and sports" title="NFTs and sports" width="600" height="400" class="lykafe2"></p><p> </p><h2>Sports fanatic: Sports is right around the corner</h2><p>In recent years, the sports industry has paid close attention to NFTs. Sports NFTs may produce more than $2 billion in transactions in 2022, according to a Deloitte estimate.</p><p>Sports NFTs give ardent supporters fresh ways to interact with and support their preferred teams. There are more real-world uses for sports NFTs as NFTs develop, and these are all poised to revolutionize the sector in fascinating ways. Sports clubs and their athletes can provide supporters with long-term value through the expanding utilities of NFTs, and devoted fans can show their devotion by holding sports NFTs.</p><p> </p><h3>Collectibles</h3><p>Fans now have new ways to collect player cards and even video clips from games thanks to sports collectibles. NBA Top Shot, a platform for collecting basketball memorabilia that leverages blockchain technology to digitize traditional sports trading cards, is one of the most well-liked collections. Fans can exchange video snippets of famous NBA game highlights on this NFT marketplace. For instance, a video clip of LeBron James imitating the renowned Kobe Bryant slam was auctioned off in April 2021 and sold for approximately $400,000.</p><h3>Tokens of virtual access</h3><p>Beyond digital souvenirs, NFTs can be used as virtual access tokens in live sporting events. For instance, fans who are prepared to pay for NFT tickets may be able to access VIP recordings from the stadium's player cameras or hear conversations between the players and coaches during team meetings. Fans can use NFTs to sponsor their preferred athletes or communicate with other sports fans and players directly in the metaverse. The NFT tickets will also enable international supporters who are unable to go to the games to take part in this special watching experience.</p><p>In addition to NFTs, some sports teams would issue fan tokens that would grant holders unique club benefits such as access to limited-edition jerseys, player signatures, and ticket discounts. For instance, FC Porto and Binance Fan Tokens collaborated to produce utility NFTs and fan tokens in 2021.</p><p class="prosemirror-p-center"><img src="https://cdn.builder.news/news/11ed13e190cbd558a8e6023f659fee92.jpg" alt="NFTs and sports" title="NFTs and sports" width="600" height="400" class="lykafe3"></p><h3>Gaming</h3><p>NFTs are occasionally employed in online sports games, such as fantasy sports such as Sorare. To add players to its NFT cards, it collaborates with elite football teams like FC Bayern Munich and Real Madrid C.F. To manage a virtual team and participate in tournaments, fans may purchase, acquire, and trade these player cards. The NFT cards of football players will gain or lose extra points based on how well they perform in actual games.</p><h2>Bottom lines</h2><p>Recently, there has been an increase in the number of NFT applications in the sports sector, and this trend is expected to continue. Digital assets give organizations new opportunities to interact with their devoted fans and open them fresh revenue streams. Even though unique badges are still enjoyed by sports fans to possess, trade, and wear, NFT sports use cases now go well beyond digital artifacts.</p><div class="pr-block-special"><strong>Disclaimer:</strong><br>This article is intended for and only to be used for reference purposes only. No such information provided constitutes advice or a recommendation that any investment or trading strategy is suitable for any specific name.</div>

How can NFTs facilitate sports in a digitalized way? Let's find out!

NFTs - An accessibility shortcut to sports