A Great Future Ahead for Sports NFTs – PwC Report Predicts

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PwC, one of the biggest professional services networks across the globe in its Sports Outlook summary for North America for the year 2022 indicated the NFT trend. The report revealed that NFTs have become one of the top ten trends within the sports industry in 2021. The report also revealed three distinct areas in which crypto assets can grow to be totally leveraged within the sports industry.

The report identified the Collective NFTs as the first area. However, this area is already flourishing within the sports industry courtesy of the likes of Sorare, NBA Top Shot, and Autograph. In summary, PwC recognizes these collective NFTs be it a ticket stub of an iconic match, players’ trading card, or other kinds of original content as items that will become widespread across the metaverse.

PwC also identified the second area to be the use of

Season Ticket Member (STM) NFTs. These NFTs offer a virtual alternative to the conventional season ticket, enabling owners to heighten their fan experience. This is effortlessly achieved via the provision of Augmented functions like the release of special edition NFTs for distinct and selected game owners to attend, offering access to stadiums or other kinds of innovative approaches for extra content.

The final and third area PwC identified in the report are NFTs operating as  VATs (Virtual Access Tokens). Hypothetically, the report revealed that VATs wolf have a massive demand base be it from international fans available to attend in-person events or just from individuals who yearn for a virtual experience.

VATs, just like STM NFTs, could be rooted in a broad host of innovative but digital perks. But, in addition to that, it could also give owners access to actions that transpire behind the scenes like virtual locker room access, bench cams, and player cams. So far, these VAT-like items have been experimented with by PSG and Manchester City who enable its fan token system to decide on less important match day judgments like which walk out and should be used.

All things considered, the PwC report reveals that media rights, sponsorship deals, and ticket sales continue to be vital income streams for sporting income for standard sporting institutions. As it stands, business forecasters still expect NFTs via the different avenues cited above to become an important stream of revenue in the future. Undoubtedly, these are exciting times for sports fanatics who are deeply rooting for the integration of NFTs in the sports industry.