3 Reasons Why Sports Teams Should Hire An NFT Expert
“NFTs are a scam.”
“NFTs are a fad.”
“Why can’t I just take a screenshot?”
There are a lot of mixed reactions when it comes to NFTs.
But you can’t deny or ignore that there is a certain buzz about them.
BAYC, VeeFriends & CryptoPunks are some of the most notable NFT projects created within the past few years and each one has quickly become a billion-dollar brand.
There are also lesser-known projects and creators that have developed strong, profitable niche communities in the space.
Despite all of this, there are a lot of people who can’t wrap their minds around the fact that these images can sell for millions of dollars on secondary markets.
It's just proof that the market doesn't give a shit about opinions.
The market only cares about what consumers want.
End of story.
And since the sports market is fan/consumer-driven, here are 3 major reasons why every sports team should hire an NFT expert:
- NFTs are the future of business. Despite how you feel about NFTs — they’re here to stay. The NBA and NFL have already begun to dive into partnerships with NFT companies like DapperLabs to create moments for fans. Individual front offices’ have to stay ahead of trends so they can adjust to what fans want. Bringing an NFT expert onboard to help drive strategy and creative direction is crucial to the organization's overall success in the future — which brings me to my next reasons…
- NFTs can help diversify revenue streams. Digital collectibles, ticketing, and exclusive access are some of the ways that teams can utilize NFTs to generate more revenue for the organization. Ticket sales, media rights, and sponsorship have been the three largest drivers of revenue for teams and leagues in the past. All of these areas could see major growth with tokenized tickets, NFT media rights, and sponsorship of digital or metaverse events.
- NFTs can help deepen fan engagement. Die-hard fans want to feel like they are a part of something bigger than themselves. They want to grow with the team. They want to connect with their favorite players and digital assets can fundamentally alter how they interact with their favorite teams. With NFTs, there will be more ways for fans to connect with teams and athletes than ever before. If teams can execute in the right way to help enhance the customer experience — fans can form closer bonds with the teams they love.
Sports and web3 have this natural synergy.
A match made in heaven if you ask me.
And even though we’re so early in the adoption of NFTs — there are so many use cases in the world of sports that will play out over the next several years.
So regardless of the reasons why people buy NFTs or how you personally feel about them — they are a major part of society now and will be in the future.
The teams and organizations that can adjust and adopt this technology effectively will win long-term.
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