What are NFTS in sports?

NFTs have taken off in the sports world after the NBA found success with NBA Top Shot, an online forum for trading virtual basketball cards where fans can buy and sell videos of their favorite players and moments in recent seasons. And now the trend is spreading to other sports.

Who is the first college athlete to market an NFT?

A week before that, Iowa basketball player Luke Garza became the first college athlete to market an NFT. The inclusion of college athletes is particularly interesting considering they do not get paid to play. There is a comprehensive rulebook they must abide by in terms of earning money while playing in the NCAA.

Which sports will have the most NFT in 2022?

Most sports-related NFT activity in 2022 is likely to take place in those sports with the largest fan bases and revenues, namely, football (soccer), 16 basketball, baseball, American football, and ice hockey. Over time, however, all sports are likely to have some form of NFT offering.

What are NFT tickets?

NFT tickets can include a smart contract that directs a percentage of any resale of the ticket back to the issuing club. 22 Additionally, NFTs could be applied to physical collectibles such as autographed baseballs or cyclist jerseys, further increasing the technology’s ability to generate revenues for sports entities.