The future of NFTs in sports is not just digital, says CEO of Candy Digital

by · July 13, 2022

If you’re been aware of the markets in recent weeks, you might be a little cloud of weapons talks about NFTs in front of an audience of knowledgeable sports business people and leaders. But Candy Digital’s Scott Lawin did not seem intimidated by cryptocurrency, but educated the audience at the Horizon Summit at Levi’s Stadium in Santa Clara, California, about what he and his company see as the future of digital collectibles – not just digital.

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“We really see one continuum between only digital, digital / physical and digital / experiential, “Lawin said today.” Some people want a physical object, like a signed baseball. If they are lucky enough, they can get a first pitch with Phillies or a meet-and. -greet between players and fans. »

After a long intro that gave a 101-level Internet story about how the web evolved and moved from Web 2.0 to Web3, Lawin dug into the flesh of his talk. Candy Digital is 18 months old and a venture between Fanatics and Galaxy Digital, and during that time has built partnerships and digital collectibles for Major League Baseball, NASCAR Cup Teams and NIL athletes, in addition to embarking on entertainment ventures with WWE , Getty Images, and Netflix for “Stranger Things.”

Several times during the presentation, Lawin found what he feels is the threefold future of the NFTS:

  • Digital: This can be an item that is updated when the player hits a home, throws down a slam dunk or achieves a remarkable career milestone.
  • Authenticity: Not only must the item be able to prove that it is 1-in-1 or 1-in-100 on the blockchain, it also must be authentic to the sport, the team, the player and the fan experience. This can be a helmet with all the players’ names on it or a World Series ring with the game-winning homer blasting out of it.
  • Safety: These items must be secure, and customers must be able to trust not only the creators but also the licensees that their items are not only vulnerable to hacks and other digital robberies, but can also be trusted by the wider fan community, who see them as authentic collectibles.

Lawin then went on to dig into how NFTs need to do more than just paint a pretty picture of a moment. Digital collectibles can go deeper, such as dialing Lou Gehrig’s “Luckiest Man in the World” speech in an NFT. It is conceivable that you could turn a Jackie Robinson-signed baseball into an NFT that not only showcases a historical collectible, but also offers a history lesson on the integration of Major League Baseball. Or you can take the Jerry Rice-signed jersey NFT and use it in AR or the gaming world.

Digital tickets can be more than just collectibles, Lawin maintained: They can be platforms that delivered more than memorable moments from a game. They can be used for sponsorship platforms, jumping off points for e-commerce (such as equipment or multiple tickets), or even an engagement platform for fans to discuss the game.

With a digital ticket, “You can get an alert for a scavenger hunt, where you walk around the stadium and scan areas to unlock NFTs or prizes,” Lawin said. “Or it’s a sponsorship night, and Budweiser is the sponsors, and NFT holders get a free beer.” And, he added, these NFT holders could even collect free lather even when they’re not at stake.

But right now, NFTs, blockchain, and cryptocurrencies are just too complicated – and over-inflated – to appeal to the average customer. Now this should change with education, but Lawin said what is even more important is to be safe you are to be authentic, not just with NFT, but the moment you are catch that you and partners have ability to provide security and privacy, and most things importantuse your NFTs to help owners take advantage of community.

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