- NFTs are beginning to fit into esports, according to a recent PwC report
- Neat Labs has effectively shown the progress of how sports game stages can thrive in this economy
- Neat Labs represented a nearly $827 million exchange in 2021
Refining the Sports Outlook for North America, the report reveals that the ultimate fate of the apparel business lies in a convergence with non-fungible tokens.
Referring to various elements ranging from adapting the foundation for sports innovation to driving fan engagement, the report identified three primary use cases for NFTs in the apparel business.
The first of these purposes is collectible NFTs, which alludes to stages selling collectible, verified, and restricted advanced content that we’re seeing in base games as of now.
Specifically, the report specifies the digitization, printing, and exchange of player exchange cards, playing cards, and various items or materials that can be included on the blockchain. These collectibles could unintentionally be featured or even shared throughout the Metaverse.
You have seen the performance and lifespan of it as Dapper Labs further promoted this application with NBA Top Shot.
This NFT symbolizes sentimentality and some of the NBA’s most prominent memories and characteristics throughout history.
In 2021, Dapper Labs represented a nearly $827 million exchange, showing that despite Axie Infinity, other games can undoubtedly evolve and have potential in this space.
Aside from their collectible use cases, NFTs could also take fan dedication and insight into the sport to a higher level by providing season ticket individuals with verified token passes.
While season ticket holders will now receive unique awards from their clubs, NFTs could also allow them to earn digital badges of the games they attend and also enjoy their exceptional benefits regardless of losing their actual tickets.
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Virtual Access Tokens
Finally, NFTs can give virtual access tokens to enthusiastic supporters who prefer the virtual experience that accompanies the space. As interest in the metaverse and related spaces reaches new highs, these virtual tokens would prove significantly more popular.
With advantages such as playercams, seatcams or even virtual access to storage space, they are comparable to the virtual replica of season ticket holders.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while in college. He is a keen eye for detail and shares his passion for writing with his work as a developer. His backend knowledge of blockchain helps bring a unique perspective to his writing
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