Is the NFL Ready for NFTs?

Is the NFL Ready for NFTs?

Digital collectibles sold as non-fungible tokens (NFTs) have exploded in value and demand so far in 2021, with more than $1.5 billion in transaction volume in the first quarter alone, according to the latest figures from DappRadar . While digital artists like Beeple may have provided some of the splashiest moments in the space so far, it’s the sports world that’s leading the way.
One project has led the surge in both dollar value and overall visibility: Dapper Labs’ NBA Top Shot , which lets fans collect and sell real NBA video highlights. The NFT space is flourishing and the NBA has been the first sports league to capitalize on that. But where is the NFL, the world’s most profitable sports league, with its enormous and rabid fanbase?
NBA Top Shot launched to the public in October 2020 , but exploded after the turn of the year, recently marking more than $500 million in total trading volume to date and driving Dapper’s valuation up to $2.6 billion (with a rumored bump to $7.5 billion incoming).
Each Top Shot moment is tokenized on the Flow blockchain and assigned a rarity grade and edition number, certifying its scarcity and helping to fuel demand. While randomized NBA Top Shot digital packs sell for as low as $9 (and as high as $999), the individual moments within can be significantly more valuable: a single LeBron James dunk moment sold for $387,600 in mid-April , and a few others have likewise broken the six-figure mark.

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