Aussie sports see NFTs as a new source of revenue

Collecting sports memorabilia used to involve stuffing trading cards into plastic sleeves in a folder, or hanging a signed cricket bat in a frame in the pool room. But sporting mementos are going digital.

LeBron James from the LA Lakers drives to the basket against the Chicago Bulls. On the NBA Top Shots marketplace, an NFT of a 2019 James dunk sold for $US387,000.Waves of NFTs are being released to give fans access to sports stars and exclusive events, while creating new collectables and digital memorabilia. Sports are also thinking about entirely new way to engage fans; some European football clubs are using them to include supporters in governance decisions.

NBL commissioner Jeremy Loeliger. “I think you are going to see a huge amount of innovation in terms of what NFTs can unlock.”“I think sports will use collectables as a relatively simple first step to dip their toes and understand the technology. Then I think you will see innovative, entrepreneurial sporting teams and rights holders start to flesh out a compelling strategy for what the technology can unlock in the longer term.”Basketball has been a trailblazer.

One of the holders of the tennis NFTs was Greg Oakford, a consultant. He said it “enhanced the spectator experience all around the world” and was a fun game to participate in. He also reckons the NFT representing the spot where Ash Barty’s winning shot landed to take the women’s title could become valuable in its own right.

Source: Digital Coin News (digitalcoinnews.net)

We are still early

Iiiinteresting.

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

NFTs are coming for your wine cellarIn the brave new world of cryptocurrency, nothing is sacred – not even a bottle of Penfolds’ finest.
Source: FinancialReview - 🏆 2. / 90 Read more »

People warned to avoid polluted New South Wales beaches after floodsRecent extreme wet weather conditions and flooding have seen stormwater pollution impact dozens of beaches and swimming sites across eastern New South Wales.
Source: 9NewsSyd - 🏆 23. / 51 Read more »

Shock twist as Fox Sports reporter stood down over leaked audio scandalJust one day after his fiery press conference with westernbulldogs coach Luke Beveridge, reporter Tom Morris has been stood down over another scandal. 7AFL 7NEWS westernbulldogs want to see me without a bra? westernbulldogs I'm a nude model, rate my photos)😘😘😘 westernbulldogs 😳Tom Tom Tom . 😔
Source: 7NewsAustralia - 🏆 11. / 71 Read more »

Treasurer speaks after one-off cash payment to millions of Aussies flaggedTreasurer JoshFrydenberg has told sunriseon7 the government “will be taking steps to alleviate those cost of living pressures.” auspol 7NEWS JoshFrydenberg sunriseon7 So, theyre just going to ignore pharmacy and fuel companies fully taking advantage of global crisis? I think its time to legalise and start studying its uses as a biofuel Its time to start making medicinal aid more readily available to everyone Its time to remove bias from jobs JoshFrydenberg sunriseon7 Ah, the expected election cash handout is announced Just like the bushfire announcement or the aged care workers subsidy🤣🤣 So funny you guys
Source: 7NewsAustralia - 🏆 11. / 71 Read more »

Aussie star's brutal slapdown for Norman's rebel tourAustralia's top-ranked golfer has made it clear where he stands in relation to a Greg Norman-backed rebel tour.
Source: wwos - 🏆 12. / 68 Read more »

Aussie outsider Angelos Frangopoulos shakes up British TV with GB NewsOver lunch at an Australian-themed cafe in London, the Sky News veteran charts the trials of starting up maverick broadcaster GB News, and whether the model would work back home. 'Maverick'
Source: FinancialReview - 🏆 2. / 90 Read more »