If you have been on the internet recently, chances are you've heard about NFTs. NFT stands for “Non-Fungible Token” and they can be sold and traded. They can include photos, videos, and audio. NFTs can be traced back to 2017, when online art studio Larva Labs created CryptoPunks. They did not break into the mainstream until 2021.
NBA Top Shot is a popular sports NFT marketplace website created by the NBA. The site allows user to purchase NFTs, buy "moments" from games, read the NBA Top Shot Blog, and partake in challenges that would allow them the chance to earn new NFTs. As of right now, it is the fifth-largest NFT project out there.
Along with NBA Top Shot, other sports have gotten into NFTs as well. UFC have gotten an NFT website of their own with UFC Strike. UFC Strike is similar to NBA Top Shot in that it allows the user to navigate the marketplace and buy 'moments' from the UFC's best fights. UFC Strike also has a blog that users can read to get informed on upcoming drops, new events, and the basics of the UFC Strike marketplace. The NFL also has a similar NFT marketplace to the two previous ones mentioned, called NFL All Day. These websites will offer additional opportunities for NFT owners such as virtual NFT merch, digital tickets to major sporting events, and other new digital technologies that are available for purchase through their NFT wallet.
Just like with the rest of the world, NFTs are becoming increasingly popular among athletes. Notable athletes such as Tiger Woods and Tom Brady have become involved in crypto and NFTs. Brady even co-founded his own NFT company with Upper Deck, titled Autograph. NBA players Stephen Curry, LaMelo Ball and Josh Hart are also a part of the Bored Ape Yacht Club (BAYC) Discord chat. Recently, it was reported that Curry purchased a Bored Ape NFT for $180,000. Curry also has 'BAYC' (Bored Ape Yacht Club) present in his Twitter bio.
NFTs and Crypto Currency have been described as a great opportunity and one of sports' next biggest things. The Los Angeles Lakers recently renamed their arena from the Staples Center to the Crypto.com Arena. The Philadelphia 76ers also named Crypto.com their official sponsor and have the company’s logo on their jerseys. NFTs will continue to offer many more new opportunities in the sport industry.
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