The popularity of NFT sports has exploded in recent years, and prominent Japanese companies are beginning to enter the market.
According to recent research by investment bank Jefferies, the value of the NFT market is projected to grow from about $14 billion today to $75 billion by 2025.
Additionally, annual sales at DapperLabs, one of the largest NFT marketplaces in the sports industry, nearly doubled to $700 million last year from $361 million in 2019.
So, what is NFT Sports? We’ll thoroughly explain why it’s getting so much attention, the markets where it can be purchased, and even give you some specific examples!
The point of this article!
- NFT Sports is a sports industry player item or trading card that is non-substitutable.
- Owned NFTs can be traded in the marketplace.
- NFTs can also be used to capitalize on game and sports items
- Buy and sell your holdings for a profit.
- Major NFT marketplaces at home and abroad, including Coincheck and OpenSea
- If you’re looking to buy NFTs, I recommend Coincheck, one of the largest virtual currency trading companies in Japan!
- 1 what is NFT Sports?
- 2 3 Reasons Why NFT Sports Are Attracting Attention
- 3 main markets where NFT sports are traded and how to buy them
- 4 NFT Sports Case Study
- 5 buy nft sports!
what is NFT Sports?
Before we discuss NFT sports, let’s first understand NFT.
NFTs (non-fundable tokens = non-substitutable tokens) are irreplaceable digital tokens issued on the blockchain that can prove the uniqueness of content such as art, illustrations, photos, animation, games, videos, and more!
Businesses using these NFTs are expanding globally and include the following main genres
Collectors’ items (collectibles)
And we call NFT sports when we incorporate various elements of this NFT into various items and cards in the sports industry.
At one point this year, weekly sales of sports NFTs in the U.S. reached $138 million, according to a McKinsey analysis.
Among them, Dapper Labs is the most well-known sports NFT platform and is gaining attention in 2019 after being named the NBA’s official NFT marketplace.
With so many passionate fans in the sports industry, the company was sold out immediately after being listed.
As more NFT sports are integrated into video games in the future, paired with rare trading cards, the item’s popularity is expected to grow even more.
3 Reasons Why NFT Sports Are Attracting Attention
Now let’s look at three reasons why NFT Sports is getting so much attention!
- Clear ownership and use of content.
- In-game items become assets.
- Cards can be purchased using ETH.
1.Content can be used with a clear owner.
The first is the ability to grant ownership.
With NFTs, you can buy and sell ownership of unique digital items and track their owners using the blockchain.
NFT stands for “non-alternative token” and can technically include digital such as drawings, animated GIFs, songs, video game items, etc.
Because NFTs are based on blockchain technology, they can track who has ownership of files.
This allows for the ownership of sports items and content with clear ownership and scarcity.
2.Items become an asset in the game.
Second, with NFT, a variety of items can become assets.
For example, when an NFT is issued for a sports-related item or trading card, the item becomes non-exchangeable and scarce.
This means that your cards become rare and can be sold on the market for a large profit.
Additionally, you can make it unique, like an actual painting, or you can make many copies, like trading cards.
These rarity and uniqueness lead to capitalization.
3.Cards can be purchased using ETH and enjoyed more
Buying and selling of NFTs is basically done using the virtual currency Ethereum ETH.
This is the same for sports items and content.
Trading cards are a popular NFT sports content, and cards of various players can be purchased using Ethereum (ETH), a virtual currency.
main markets where NFT sports are traded and how to buy them
The main markets where NFT Sports are bought and sold are Coincheck in Japan and OpenSea overseas are the main exchanges.
Let’s take a closer look at each!
Coincheck NFT (beta) is a marketplace launched on March 24, 2021, with over 80,000 users at the time of writing.
It currently sells the NFT of LAND, the virtual land of the blockchain game “The Sandbox,” the NFT of cryptospells, a blockchain game from Japan, the NFT of treasure cards of SKE48 members, and the NFT of digital cards of the blockchain soccer game “Sorare”.
- Supporting a wide range of content including games, trekkers, sports, etc.
- No commissions
- 13 cryptocurrencies supported
- Incentive system with CHZ
Additionally, Coincheck is expanding its reach by working with Chiliz and Socios, the fan token makers of sports and entertainment venues such as FC Barcelona and Juventus.
How can I buy on Coincheck (beta version)?
Let’s take a look at how to make a purchase at Coincheck.
- Register with Coincheck
- Send money to Coincheck
- Access the NFT Marketplace to purchase
Click here to access the official website and register as a member.
Enter your email address and password to register.
Once you have registered your email, register your phone number and submit your identification documents.
You can do this from the following screen.
Enter your cell phone number in the “Phone Number” box and click “Send SMS.
Enter the 6-digit code you received to complete the verification.
Identity verification is easy with a passport or driver’s license.
Deposit to Coincheck and purchase virtual currency
After account registration is complete, you will need to deposit funds to Coincheck to prepare funds to purchase content.
Deposits can be made by bank transfer or credit card, and Coincheck accepts small amounts.
Basically, Ethereum ETH is the most popular currency, but Coincheck also offers IOST.
Finally, you can actually purchase content at Coincheck NFT.
You can access the NFT market by clicking on “Coincheck NFT (Beta)” on the left side menu of the Coincheck member page.
Next, select the NFT you wish to purchase.
- Released in 2017
- One of the world’s largest marketplaces from US
- Simple site design
- Loyalty rewards of up to 10
- Non-ETH wallet support
OpenSea is a leader marketplace, and all types of digital assets are available on the OpenSea platform.
Creating your own NFT is a simple process, and the marketplace offers over 150 different payment options.
OpenSea has the following collections
The platform allows users to buy and sell collectibles, art, music, domain names, trading cards, virtual worlds, and more on the blockchain.
There is a royalty fee of up to 10%, plus users can buy and sell items from other NFT marketplaces such as Rarible and Mintable.
In addition, according to data compiled by DappRader, the volume of transactions on OpenSea has ballooned tenfold in the past 30 days from the previous 30 days to $1.22 billion.
How to buy on OpenSea
The purchase procedure is as follows
- Create a meta mask
- Connecting Open Sea and Metamask
- Buy at Open Sea
1.Creating a Metamask
First, create a metamask before opening an account with Opensea.
You can create it here.
2.Connect OpenSea and Metamask
To buy or sell NFTs, you must first connect the meta mask you just created.
From the icon in the upper right corner, select Profile.
When the connection screen appears, press SIGN IN to complete the process.
Once the wallet is connected, OpenSea will take you to the profile page of your account.
Purchase NFTs with OpenSea
Next, purchase NFTs. Once you find an NFT you like, you can click the “Buy Now” button to start trading.
Once you have found the NFT you want to buy in the marketplace, first review all the information collected about the NFT.
After reviewing the information, we recommend that you check the price history to ensure that the piece is not a scam and to see how the price has changed.
Once you have decided on the piece you want to buy, click Buy now.
Your wallet will then open and you will be charged the final cost, including the gas fee, which will be applied according to your blockchain selection.
The purchase is now complete.
NFT Sports Case Study
Let’s look at some examples of NFT sports.
In Japan, professional baseball and various industries are participating in NFT, and we will introduce them here.
- Saitama Seibu Lions
- DeNA BayStars
- J. League
- Australian Open
1.Saitama Seibu Lions Enters NFT Business
Saitama Seibu Lions
The Saitama Seibu Lions were the first professional baseball team to enter the NFT market.
The team has begun operating a platform for handling NFT content through Pacific League Marketing (PLM), which was established by the six professional Pacific League baseball teams.
Four types of NFT content, including one created to commemorate Takumi Kuriyama of the Saitama Seibu Lions’ 2000th hit, were sold on this platform.
In the future, Pacific League Marketing plans to implement a secondary distribution function in PLM COLLECTION to enable users to buy and sell items to each other.
2.DeNA BayStars, NFT Business
Yokohama Bay Stars
The Yokohama DeNA BayStars of the Central League professional baseball team has begun selling digital movies using NFT.
Following the Saitama Seibu Lions, the Yokohama DeNA BayStars are the second major professional baseball team in Japan to fully enter the NFT business.
PLAYBACK 9,” a digital movie collection utilizing NFT, incorporates famous scenes from the game, and is a service that allows users to experience traditional trading cards digitally.
Furthermore, users will be able to buy and sell NFTs online. Characteristically, PLAYBACK 9 uses the LINE blockchain, which was originally developed by the popular application LINE.
3.J-League officially licensed games
Influenced by the huge popularity of NFT games, the J-League has developed the first blockchain game in Japan to use professional sports league licenses.
The game features over 800 players from all 42 clubs in the J1 and J2 leagues with real names and live action, and allows users to become the owner and manager of a club.
In other words, you can run your own club, and the game itself is completely free to start.
4.Sports NFT by DAZN
DAZN, a sports video streaming service operator, also entered the NFT market in the spring of 2022.
DAZN has developed a sports-focused NFT marketplace called “DAZN MOMENTS” (DAZN Moments), where videos of super plays and memorial scenes will be sold as NFT content with serial numbers.
Secondary sales will also be available for trading among users.
DAZN also appears to be incorporating the beautiful design of Dapper Labs, which has had worldwide success with “NBA Top Shot”.
5.U.S. NFL issues NFT “Virtual Commemorative Ticket”.
Less than a year after the NBA Top Shot became a favorite of many sports fans, the NFL now plans to do the same.
Fans who purchase tickets to select NFL games for the remainder of the 2021 season will earn a commemorative NFT that will serve as a digital keepsake.
An email will be sent to fans after the game, allowing them to access their collectibles and sell or trade their tokens through the NFL’s NFT Marketplace, powered by Ticketmaster.
6.Australian Open (AO) issues NFTs
The Australian Open, in cooperation with the NFT platform Sweet.io, has released the NFT Collection.
The Australian Open has released the AODecades collection featuring six commemorative NFT collections celebrating iconic decades.
The six collections span decades from the 1970s to the 2020s and were released on Monday, January 17, 2022.
Items from the decade include period-specific collectibles such as commemorative tickets, 3D umpire chairs, and 3D tennis courts.
In addition, collectors of the decade set will receive a “Master NFT” in the form of a commemorative 3D poster.
The most valuable item is a free trip to the Australian Open in 2023.
buy nft sports!
How was it?
Here is a summary of this article.
The point of this article!
- NFT Sports is a sports industry item or trading card with a unique value
- and made tradable.
- Owned NFTs can be traded in the marketplace
- NFT allows you to capitalize on game and sports items
- You can buy and sell your holdings for a profit.
- Major NFT marketplaces at home and abroad, including Coincheck and OpenSea
- If you’re looking to buy NFTs, I recommend Coincheck, one of the largest virtual currency trading companies in the country!
Thus, NFT Sports can trade collectibles and trading cards of players with ownership rights.
Coincheck is the best place to trade domestically.
Please take this opportunity to explain and trade.