The Rise of Sports NFTs and Where to Find Them
Within a matter of months, NFTs (non-fungible tokens) have gone from being virtually unknown to one of the hottest-searched terms on the internet. And at the center of this sudden rise to popularity are sports NFTs – the new collectible that fans are clamoring to get their hands on.
The days of going to the mall or to the sports card trading show to trade cards or buy collectible sports antiques are over. Sports NFTs are taking that concept to the next level; they hold proof of highlights, images, audio, and defining moments for any athlete in any sport.
We’re still in the early phases of the NFT space, where buying NFTs is considered straight-up gambling. But there’s no question that folks are getting rich off these things.
In August 2021, a Lebron James Top Shot NFT sold for a then-record $230,023. And by 2025, the sports NFT market is projected to go up to over $75 billion.
We know many of our American Institute for Crypto Investors members are eager to learn more about NFTs. So, to give you a better understanding of this new frontier of sports collectibles, we put together this guide that will cover:
- What are sports NFTs…
- Where to get sports NFTs…
- And options to monetize on those platforms.
Let’s get started…
What Are Sports NFTs?
Sports NFTs are specific and non-interchangeable registers maintained on the blockchain. They can be connected to records that are digital that can be duplicated by audio, video clips, and photos.
This system will use a simulated ledger to offer a public credential of authenticity (verification of possession), and the conditions of the information record can be duplicated or divided.
Sports NFTs are prominent from the blockchain cryptocurrencies like Ethereum (ETH) for their lack of interchangeability (fungibility).
Trying to locate NFTs for every sport can be a bit challenging on your own, but you have American Institute for Crypto Investors in your corner.
Here is a compiled list of sports NFTs and where you can find them…
1. Where to Find Basketball NFTs: NBA Top Shot
If you are an NBA fan, then NBATop Shot is for you. The NBA was the first organization that approved and recognized that this space was going to be huge (and still growing by the second).
The NBA chose Dapper Labs as its partner, and the entire project can be found on NBA Top Shot where NBA fans and investors can find player highlights and a plethora of tokenized videos.
One of the most famous purchases so far is the highlight of a LeBron James dunk that sold for $377,000 – and this is only the beginning, folks.
Chief Crypto Strategist Nick Black goes into more detail about Top Shot and gives you a preview of his own NFTs in the video below:
2. Where to Find Soccer NFTs: Sorare
If you are a soccer fan, then here is your NFT answer. Sorare has made how to locate sports NFTs for football (or what we Americans call soccer) easy for us. It has compiled a nice set of soccer trading cards that we can use to complete our fantasy teams and compete for more NFT cards.
At the time of this writing, Sorare has an official license for over 150 soccer teams. Some of those leading brands include Juventus, AC Milan, and Real Madrid. Users will have the option to put together a five-player team using the digital trading asset cards in the deck that they choose and acquire money established on how good or bad the players perform in real-time games.
3. Where to Find F1 Racing NFTs: F1 Delta Time
If you are an F1 Racing fan, then you need to know about F1 Delta Time, which has created a Formula One network where fans can collect F1-NFT tires, drivers, racetracks, and cars.
The final goal of this space is to have users compete in real-time tournaments. The true worth of these items lies in the scarcity of these collectibles as well as the uniqueness.
A portion of a racetrack in this game has been auctioned off for more than 9 million of the company’s REVV (REVV) tokens, valued at $222,000.
4. Where to Find Horse Racing NFTs: DeRace
If you are a fan of horse racing, then DeRace has created a DNA-enhanced horse racing network for you.
In the unique system, users will have the option to race horses where they receive a percentage of the bettors’ winnings. The bookmaker owns the racetrack, and the blockchain will provide integrity to the project and its investors.
Every horse will have its own uniqueness like physical horses do. Breeding can be very challenging for some, and if that is the case, investors can purchase their favorite NFT racehorse available on the DeRace global market and NFT aftermarkets.
With this guide, you now have a clearer understanding of the following:
- What sports NFTs are…
- The places you can find Sports NFTs…
- And options to monetize on those platforms.
But before you run out to make your first sports NFT purchase, this is what you need to know.
Take care,
The American Institute for Crypto Investors Research Team