Price Waterhouse Coopers (PwC) Report Calls NFTS ‘The Future of Digital Assets in Sports’

  • According to the report, digital assets have the potential to radically transform how consumers consume sports and connect with their favorite teams.
  • According to PriceWaterhouseCoopers (PwC), in the sports field, NFTs are said to be among the ten major trends.
  • They also stated that the media rights, sponsorship and sales of tickets are the largest revenue stream for the leagues currently.

PriceWaterhouseCooper have referred to the NFTs as “The Future of Digital Assets in Sports.” NFTs, also known as non-fungible tokens, and digital assets have become one of the ten major and important trends in the sports univers, as per the Sports Outlook 2022 report for North America by PwC.

The report has listed down three cases that are important regarding NFTs and how they will be shaping the future of the sports universe. It will bring forth advanced sports technology and drive a massive number of fan engagement as well.

The first case is regarding the collectible NFTs. They are assets that are used to sell exclusive and limited digital assets or tokens. This usually refers to the traditional form of trading cards of players or ticket stubs. Through this, the legendary, historic match will be digitized, mined, and sold on the blockchain. These collectible digital tokens may eventually be displayed all across the metaverse, according to the report. NBA Top Shot from Dapper Labs is one of the best known examples of digital collections.

They are providing virtual access tokens for fans that prefer virtual experience as they may not be able to attend them live. They also expressed that sponsorships, media rights and ticket sales are the largest revenue streams for teams and leagues currently.

These trends are still increasing, especially since sports associations and NFT marketplaces are forming a partnership with one another.

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