What is NFT in sports?

Over time, however, all sports are likely to have some form of NFT offering. These can be to commemorate a single event, be it a Formula 1 driver attaining a record number of world championships or a football player scoring their hundredth international goal.

Why are NFTS so popular?

So far, the driving factor in bringing NFTs to the sports world has been the athletes themselves. Professional athletes have a history of creating brands around their names and, in essence, serving as their own media platforms. NFTs are a perfect way for individual players to market themselves via a trending platform and make a buck.

How much will NFTS for Sports Media Generate in 2022?

Deloitte Global predicts that NFTs for sports media will generate more than US$2 billion in transactions in 2022, about double the figure for 2021. 1 By the end of 2022, we expect that 4–5 million sports fans globally will have purchased or been gifted an NFT sports collectible.

What is the NFT craze?

The NFT craze is in full swing and pro sports have taken notice. Leagues, teams and athletes worldwide are selling NFTs. As long as people are buying NFTs, teams and players will keep creating and selling them. Non-fungible tokens (NFTs) have blown up in 2021.