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What Is NFL NFT: Sports Getting Serious About NFTs

Author: Jeffrey Craig Date: August 26, 2022

Sports are getting serious about NFTs (non-fungible tokens), and now the NFL (which made $12.2 billion in 2021) is making splashes with its native NFT collections and marketplace. The NFL has been dabbling in the NFT space since its April 2022 player drafts.

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What Are NFL NFTs?

NFL NFT refers to the broad range of NFTs that have been released by the NFL through its various partners. These types of NFTs include posters and video clips of special moments to digital avatars of NFL players which may be playable in the metaverse.

Typically licensed by leagues, teams, or even individual athletes, these NFTs essentially serve as trading cards for the digital world, mementos for fans, or simply a proof of attendance (through NFL ticket NFTs).

The NFL has curated a number of NFT collections. NFL NFTs are intended to achieve better fan engagement, marketing and entertainment outcomes. Below are the NFL NFT collections officially associated with the NFL.

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Video NFL NFTs – “Moments”

Video NFL NFTs are in-game digital clips captured and stored on the blockchain. The NFL has entered into a deal with Dapper Labs, the tech-stack developers of the popular NBA Top Shot NFT game for this offering.

Each Moment is graded based on rarity with a unique identifier, much like physical trading cards. These are bundled into the NFL All-Day marketplace and are available for purchase there, as well as other secondary marketplaces like OpenSea.

The four different tiers of NFL All-Day Moments are:

  1. Common (92% of all Moments): The basic primer of any NFL All Day Moments collection with mint counts between 4,000 and 10,000.
  2. Rare (~7-8% of all Moments): Mid-tier moments with mint counts of 499 to 1,200.
  3. Legendary (~0.17% of all Moments): Very rare and highly desired Moments. Only around 200 Legendary Moments exist with mint counts of fewer than 99.
  4. Ultimate (About 0.01% of all Moments): This tier comprises the rarest Moments with mint counts between 1 and 10.

NFL Player NFTs

The NFL is offering NFL Player NFTs as digital avatars for their upcoming gaming project, NFT Rivals. This venture represents a partnership between the NFL and Mythical Games, combining the best elements of fantasy football with new notions of digital ownership, and promising to thrill a whole new generation of fans.

The game will allow gamers to act as general managers, assembling their own rosters of real NFL players. Before the game’s official launch in 2023, fans can add to their digital collections by purchasing associated NFL player NFTs and make their own NFL NFT teams. Once NFL Rivals is fully up and operating, token holders will receive special access to rewards and virtual events.

NFL Ticket NFTs

The NFL embarked on a new way to engage with fans by offering NFTs to each ticket holder. The NFL has partnered with Flow to manage NFT disbursals to those who buy tickets. For many NFL fans, these digital mementos provide an exciting way to continue interacting with the league and keep a memento of the event.

Buying NFTs On The NFL All Day Marketplace

The NFL has its own marketplace for its NFTs called All Day. This marketplace only features NFL NFTs such as the above mentioned Moments. Ticket and avatar NFTs are available on the respective partner platforms.

While the platform offers a variety of payment options, ranging from credit cards to cryptocurrencies, it only supports one wallet – Dapper wallet. Once you’ve added funds into your Dapper wallet, you can choose to:

  • Join an exclusive drop and get access to NFTs before they hit the marketplace.
  • Rip a pack – as you’d do to your physical cards. Within the pack, expect to find some of the best moments bundled with others.
  • Shop Moments – choose specific NFTs on the marketplace.

The price tags of some of these NFTs have receded following the recent crypto bear market, but with football season starting in September, sports-savvy investors have a potential windfall on their hands.

What’s exciting is that even physical attendees have reason to cheer this season. The NFL and Ticketmaster are expanding their NFT ticketing initiative, offering free commemorative digital tickets to fans who attend one of 100 selected games next season.

NFL All Day’s ‘Challenges’

Active fans can navigate to the marketplace’s ‘Challenges’ tab to participate in tasks and qualify for rewards during active challenges. Once you have all the necessary Moments, your mission is almost complete. All you need to do is hold onto them until the deadline to get your reward. If you’re missing a few Moments, you can buy what you need from the marketplace.

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Are NFL NFTs Worth Anything?

NFL NFTs’ worth is derived from their scarcity, popularity, and a variety of other market conditions. As per the NFT All Day marketplace, while the highest grossing sale on a ‘legendary’ NFT was a whopping $65,000, even rarer ‘common’ NFTs have fetched owners ~$10,000.

However, markets have fluctuated since, and values have dropped. A detailed research is needed to find worthy NFL NFTs that will stand the test of time. Some may gravitate towards collectible NFTs like Moments while others may find digital player NFTs more valuable for its utility in online gaming.

Conclusion

For NFL fans, NFL NFTs provide additional ways to interact with their favorite players and teams. The league has taken the digitization of sports culture seriously, and people can expect more immersive NFL fan experiences, especially with the NFL’s long-term vision of developing its gaming and metaverse ecosystem.


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