PwC believes that NFTs are ‘the future of digital assets in sports,’ highlighting various use cases

As per the consultancy PriceWaterhouseCoopers, or PwC, the sports industry is currently witnessing the biggest boom when it comes to Non-fungible tokens or NFTs, which is among the top ten trends in the North American sports industry.

PwC outlines three major use cases of NFTs

PwC Sports Outlook 2022 report lists three primary use cases for NFTs and their likelihood to shape the future of sports:

• Collectible NFTs: Here NFTs are used to sell collectible, authenticated, and limited edition digital content. This concept is similar to the sale of traditional memorabilia like trading cards of players and ticket stubs of historic matches that can be digitized, minted, and sold on the blockchain. These types of collectibles can be used to display and share across metaverses.

For example, NBA Top Shot from Dapper Labs: The marketplace tokenizes the highlights or the best moments from NBA history and has secured the second spot, as TheCoinRise reported, after the Axie Infinity game, for the most NFT transactions within the blockchain gaming sector. Another example is  Autograph, a retired NFL quarterback Tom Brady’s NFT collectible marketplace.

• Season Ticket Member (STM): Another important application for NFTs is in the field of nanotechnology. Season tickets would benefit from verified tokenized passes, which would enhance their already positive experience. STMs who are able to receive exclusive content and unique stadium experiences may also earn limited-edition collector NFTs for the games they attend. Sponsors may gain as well if the teams they support allow them to ensure that customers who lose their actual tickets do not lose any additional benefits.
• Fan tokens: Fans who choose to pay more for a virtual experience and may not be able to attend games in person are predicted to be in high demand for virtual access tokens. Virtual access tokens dubbed a “new version of season tickets,” may allow owners access to more behind-the-scenes amenities like player cams, bench cameras, and even virtual locker-room access. Paris Saint-Germain and Manchester City are two soccer clubs that have had success with their fan tokens, allowing fans to have a say in non-strategic game-day decisions like walk-up music.