According to the report of Consultancy Price Waterhouse Coopers’ or PwC Sports Outlook of 2022 digital assets and Nonfungible tokens are one of the top 10 main trends within the sports industry. Right from modifying sports technology infrastructure to propelling fan engagement, the report holds 3 important use cases for NFTs and their chance to mold the fortune of sports. The 1st use case is collectible NFTs- assets used to trade collectible, validated, and restricted version digital content. The report also added that these collectibles could finally be displayable and shared across metaverses.
The well-assumed example of a collectible NFT compilation is the NBA Top Shot from Dapper Labs. Another popular instance is resigned NFL quarterback Tom Brady’s NFT collectible marketplace Autograph, which lately put forward $170 million in Series B funding. Secondly, season ticket members (STM), NFTs could be evaluated as separate big use cases. Giving season ticket members with verified tokenized passes would elevate the experience of a devoted fan.
STMs used to have access to additional special content and stadium experiences could also obtain special edition collectible NFTs for the games they attend. Lastly, digital access tokens for fans who want to pay more for an implied experience and may not be skilled to attend games in person, are expected to be in demand. PwC clarified that ticket sales, media rights and sponsorship are the recent biggest earnings paths. It anticipates that tokenized tickets, NFT media rights and subsidy of digital or metaverse circumstances stimulate the growth of the industry, asserting that digital asset sales might also become a severe earnings path.
The report further clarified that to make this true, teams would require a tech stack that pertains to their recent digital sales data with existing consumer databases, and a powerful legitimate squad to deal with regulatory and tariff implications.