NFT Sports Marketplace
Business Tech

Do You Really Need an NFT Marketplace for Sports?

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Sports? Gaming?  Music? Whatever it is NFTs have started making themselves widely relevant in not only they but also several other markets. Speaking of markets, these NFTs are also being sold on platforms called NFT marketplaces where there are drops, several rare NFTs, and much more. One such domain where NFTs have recently started making a buzz is the sports market. Quite ironic, but well trends don’t have to make sense to be validated, virality is the factor that makes a trend popular. So NFTs are made of several famous sports icons from different fields such as cricket, football, soccer, volleyball, basketball, etc.

It’s not rare because, before the NFTs came into existence some playing cards were highly valued. These cards were rookie cards of the recently popular and famous sportspeople.  So when mere sheets of printed cardboard could be resold at the cost of a mansion then why not NFTs? It is also a notable fact that these NFTs can essentially exist forever given that the world is moving into an era of digitality. So which Pendrive can a piece of cardboard be stored on? So with that being said sports NFTs and Sports NFT marketplaces, a need or unnecessary?

Sports NFTs Making Waves

Sports NFT marketplaces have started making a buzz all over the world. This was being done before only in the form of trading cards that were sold for insane amounts. One good example of an insanely priced rookie card is LeBron’s which cost 5 million. If that’s not an insane price I wonder what is. Yes, it is a notable factor why would someone compromise a physical object over a digital one? For one these NFTs are something that is priced, traded, and sold differently. In the context of trading cards, their value goes up only if the player in question scores well, has a good record, and the condition of the card affects the value. There are several other things that one notes when grading and purchasing them. 

When you consider sports NFTs while all these factors are applied to that too, several things don’t need to be checked. There’s no need to grade them and when you compare them to the physical memorabilia, there is a good chance that someone has the same but there can only be 1 of 1 in NFTs. This not only makes it completely exclusive to the one purchasing it but also makes it infinitely rarer than other memorabilia. These sports NFTs don’t need to be graded, sorted, or verified because there is no possibility that these can be faked, copied replicated, or forged.

This is one of the most important factors that add a whole lot of value to them. Apart from that a major point to be noted is that these NFT’s costs differ and vary based on rarity and demand. So there’s no need to grade them and their value cannot be reduced due to their condition. And where does one go to get these? An NFT marketplace of course!

NFT Marketplaces Hitting All The Sweet Spots

So before the existence of a particular marketplace for NFTs, they were popularly sold on the same platforms that every NFT was. Before the existence of marketplaces, they had to be sold individually and occasionally transferred via NFTs. NFT sports marketplaces have made everything so much more simple by creating one solid platform that can be accessed by all sports lovers easily and does not have to go through any hassles. Sports NFTs replace the role of physical assets which means that game-worn jerseys, rookie cards, sports gear, and anything got to do with all that was going to be sold or purchased as digital assets, NFTs. This does not mean that these NFTs will completely erase the value that physical assets have, however it does have their advantages. 

Now some might have doubts as to whether it is truly a reliable investment. With the crypto crash and the huge fall that bitcoin had several people have developed a kind of hesitance to invest in the blockchain. So here’s the deal, whether one likes it or not pretty soon the blockchain is going to become an integral part of your life. 

NFTs Into P2E

Irrelevant of whether you like it knot gaming will also be completely revolutionized and in fact, it is already happening, with the metaverse and several P2E NFT games. So it goes without saying that the NFT trend and the opportunity for growth will certainly be grabbed by sports team owners, sponsors, and investors. Despite the flickering doubt, about whether NFTs are a fad, several people have proven time and again that such is not the case and that it is truly the future. 

Now consider this with the implementation of Web3 and the growth of the crypto domain and the implementation of blockchain technology where do you stand? There is the entire world moving towards the era of digitality and then you have the past so why hold on to it? 

In Conclusion

Sports NFT marketplaces are something that sports enthusiasts require to purchase their favorite digital memorabilia. It makes it easier to find what you are looking for and it is specific to only one domain, sports. So not only does it make things it also draws sports fans into investing in more sports-oriented merchandise that is digitalized. So yes, sports NFT marketplaces are indeed a need.

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