Sports NFTs are digital assets on the blockchain that are verifiably one-of-a-kind and can be used to represent digital cards, sporting events, digital memorabilia, and pretty much anything you can imagine.
Sports NFTs give fans and savvy collectors a new way to interact with their favourite teams and athletes while allowing sports stars, clubs, and brands to monetise in new ways.
For instance, many fans are willing to spend a lot of money to acquire limited edition virtual memorabilia of their preferred basketball team or a rare collectable card of their selected baseball player. Because of this, sports NFTs frequently trade for tens of thousands of dollars (or more), and the value of some of the most valuable has significantly increased since they were first released.
Where can I buy one?
You can purchase NFTs in many marketplaces, such as Opensea, Rarible and Sanctum-X. Sanctum-X is the new player on the market and differs from the mainstream marketplaces as it was created solely for Sports and Community NFTs. Check out sanctum-x.io.
Should you buy some?
Because of the celebrity allure of the athletes associated with high-profile drops, sports NFTs have enjoyed colossal media attention.
Leading NFT companies, such as Sorare, have also successfully obtained licensing agreements with some of the most significant sports leagues in the world, allowing sports fans to interact with their preferred teams and athletes in a brand-new way online.
While the NFT market may fluctuate, the one certainty is that the number of sports fans entering the NFT space will drive the value of sports NFTs higher in the years to come.
So, if you’re a fan or educated collector and are willing to pay “any price” to get your hands on the newest, most valuable collectable of your favourite team or athlete, then NFTs might be right up your alley.