As you may be aware that NBA Top shots, UFC and La Ligia have joined the NFT revolution. These are some of the biggest sporting branding in the world and they have all joined Dapper labs.
Some may say that if you are a sporting brand and looking to join NFTs then the only place to go is Dapper labs. I am sure this would be the though of worldâ€™s most-watched domestic football competition which is the Premier league.
The English Premier league is looking into NFTs, the fastest growing market for digital collections, which will be another income stream for then just like it has done be able to raising hundreds of millions of dollars for artists and entertainment groups.
The Premier league is looking how it can capitalise on the growing market from Fans for Non Fungible Tokens.
They are looking to follow in the footsteps of NBA top cards and newly joined La Ligia and will look to join Dapper Labs Flow platform
Caty Tedman, head of partnerships at Dapper Labs
â€œNBA Top Shot is a next generation collector experience,â€ she said. â€œItâ€™s a way to really take part in the economy of basketball and itâ€™s a way to collect your favourite players, their greatest plays and build community around it. We have almost half a million people in the Discord channel just talking about basketball together every day now, so itâ€™s a basketball community of collectors.
â€œIt brings the hard in your hands experience online, so it makes it more global and it makes it an opportunity to have a much wider audience that youâ€™re playing with, collecting with and buying, selling and trading with. What the blockchain elements bring to it is the ability to truly own those assets in a digital space. In the same way you feel like you can tangibly hold your physical cards, you truly own your Top Shots in a digital space.â€
Artists and other Sporting businesses have joined NFT’s howeer some have concerns that the link to crypto which are used to buy and sell NFT’s are bringing volatile valuations.
The league have been quoted in saying
â€œWe are looking into it, and see the digital collectibles space as an area of interest to fans, the Premier League and our clubs,â€ said a person close to the leagueâ€™s leadership. â€œ[They are] currently looking to establish the right route if any for the PL to take.â€
The Premier League is still considering to enter the NFT market as some of the teams in the league may want to build there own NFT’s and look to grow there own brand.
in the 2020/2021 season the Premier leauge clubs will have lost about Â£2bn in ticket sales and broadcast income since the start of the pandemic, Premier League chief executive Richard Masters has said.
Looking At what NBA’s Top Shot made was over $700 million in total sales in less than a year.
CEO Roham Gharegozlou speaking at CoinDeskâ€™s Consensus 2021 with investor Mary Meeker, Gharegozlou said Dapperâ€™s NFT marketplace for basketball â€œmomentsâ€ now boasts 1 million users, an eye-watering figure for a single crypto product. Half of Top Shotâ€™s users have paid for packs or in trades, and between 150,000 to 250,000 log in every day.
Dapper Labs, the NBA and the players split revenues for the sales, as well as taking 5% cut on each sale on the secondary market.
Due to the nature of blockchains each person associated with the NFT can be traced.
UFC was one of the first Global Brands
Fighters typically receive about 30% of UFCâ€™s cut on licensed apparel and merchandise. For NFTs, the mixed martial arts promotion is planning to raise that share to 50%, according to chief operating officer Lawrence Epstein.
â€œThe reality is that this product is one where you take the UFC brand, you take the fighterâ€™s likeness, you put them together and 1+1=4 or 5,â€ Epstein said in an interview. â€œA 50-50 split makes sense. Itâ€™s fair, and it reflects what both sides are delivering to the product.â€
If the the worlds largest domestic football league is looking to enter the NFT market, you would hedge that they will be joining a well established platform who has already some of the biggest sporting brands to there name.