NFTs Will Be The Future of Sports

As the world is transforming into a digital one, NFTs becoming a game-changer in various industries. A new report from Big Four accounting firm PricewaterhouseCoopers (PwC). The analysis states the rise of non-fungible tokens (NFTs) globally. According to the report, it will transform how sports spectators engage and consume in the stadium.

The report of PwC is titled “Sports Industry Outlook 2022”, and it is an overall analysis for the sports area. As of right now, NFTs are among the top ten most important developments in sports. The main focus of the NFTs development is improving the fan experience and increasing revenue.

Moreover, seasonal ticket membership was among one of three primary NFT use cases. According to the report, there is an increasing interest in digitalizing tickets. The idea that you can convert your tickets into digital tokens attracts many teams. In particular, the seasonal ticket is gaining traction among several sports organizations.

NFTs & Sports

As such, NFTs could help the sports industry make more money. This is possible because you can use them as trading cards for the digital world. Individual athletes, teams, or leagues will usually buy them and use them.

According to PwC, a completely new market will be created. This market will combine the metaverse with digital assets, both fungible and non-fungible tokens. As a result, virtual access tokens will open new metaverse possibilities for creativity and social interaction.

In other words, NFTs are disrupting the whole market. This is because such tokens are non-divisible and must be sold as a whole. The GlobalData thematic analyst Amrit Dhami recently highlighted that NFTs are ideal for fashion in the Metaverse.

In addition, Dhami noted the potential of NFTs in the metaverse’s fashion area. He talks about the potential of such tokens since they serve as evidence of ownership for assets like images. Similarly, users will be able to purchase digital clothes, just as they can custom-made clothing.