Is there a connection these days?
The American Football League (NFL) has always been known as a strange choice. It generates billions of dollars each season, and the NFL Finals is said to be the most expensive event in sports history, with advertising costs reaching $ 6.5 million per 30 seconds of broadcast. Tens of millions watch every game and hundreds of millions wait for the NFL Finals.
That’s how big it is. But what do cryptocurrencies and NFTs have in common? We find out in this article.
Many people used to buy Bitcoin, which was considered the most traditional way to invest in cryptocurrency. Times have changed, however. People want to see something back. And this is how the blockchain brought non-fungible tokens to life. Non-fungible what? Let’s explain NFTs.
Non-fungible tokens are a completely different device than cryptocurrencies such as Bitcoin or Ether, with their own advantages and disadvantages. Non-fungible tokens (NFT) are digital assets stored on a blockchain – they record the ownership of a particular item, as well as its activity throughout its life. With an NFT you can prove that your car is special and has never been seen before, or that your house is unique and just yours. Where fungible tokens are difficult to distinguish between devices, such as one Bitcoin against another, non-fungible tokens are so unique that each instance of them is a separate data point.
Aside from the name similarity (2/3 is not bad, right?), There are many other common things between non-fungible tokens and the American Football League.
But the most common with both is money. A lot of money. Whether we’re talking about one thing or another, billions of dollars are involved.
Just as painting is a professional job, so are NFT illustrations. There are many different types of NFL collectibles out there, but The National Football League Collectible Card is the first on-demand trading card program. Using blockchain technology, the National Football League Collectible Card will allow you to experience the true playing card lifestyle where you can easily track your cards, create and join trades with other players globally, receive rewards directly from games and more.
But this is not the first time the NFT world has conquered a mainstream sport. Top Shot has become a worldwide hit and Derrick Rose’s setup has become the most expensive Top Shot NFT, as $ 1 million was paid for the access.
But things go further than that. As Coindesk quotes, “NFL draft goes NFT.” That’s pretty interesting, since the NFL Draft definitely gets a lot of attention, since it promotes the top talent who will become professionals within a few weeks.
NFT games are quite popular. By default, people buy characters to play games, and by betting tokens, they earn various rewards, especially cryptocurrency. What may surprise you, however, is that the American Football League has actually licensed a mobile game played with NFTs. The partners are Mythical Games and the interface is simple – people who buy the game can make a list of their favorite players, with the only condition that the latter must be acquired when buying NFT collectibles.
To make things even more spicy, if you buy NFTs that are rare, you can have access to exclusive rewards, special events and other goodies. This creates a fantastic fan engagement, as people will feel like they are on the verge of meeting their idols!
The NFL is not known for being ahead of anything, but it allowed only a little progress. The league gave teams permission to accept sponsorship from blockchain companies (according to CNBC), which is groundbreaking considering how strict they are with companies that operate outside the traditional financial system. This was another step forward in building a solid foundation.
More and more people are accepting cryptocurrency salaries, as they can be inflated over time, and provide a good side income. Of course, not everyone is willing to take a firm step, and 2021 was not considered a great year. However, this was the risk many players like Kansas City Chiefs ‘Patrick Mahomes, Buffalo Bills’ Josh Allen and others were already aware of.
NFL teams seem to have realized what blockchain technology can do for them: it can give fans a chance to really step into the heroes’ shoes, while interacting with the team and watching live games. Through these features, NFTs also provide teams with extra revenue and increase players’ revenue. All in all, this is a great move for both the NFL community and its fans!
