How Digital Collectibles Are Shaping Athlete Legacies

NFTs and blockchain-based gaming are transforming the way we connect with pro sports, says Matt Novogratz, Co-Founder of Candy Digital.

Matt Novogratz, Co-Founder of Candy Digital, discusses how NFTs and blockchain-based gaming are transforming the way we connect with pro sports.

Since the dawn of sport, athletes have built their legacy out on the playing field. We look up to their accomplishments; we hold on to their records, their milestones, and the countless moments that make up their wins. Starting in the 2010s, the introduction of social media transformed the playing field: giving us more access and insight into star players. A decade later, the emergence of NFTs gave fans and their favorite athletes a new way to connect. Now, blockchain-based collectibles and games are changing the way we see and engage with athletes: as fans increasingly have the tools to contribute to, own, and expand the field of play for their favorite stars.

This op-ed is part of CoinDesk's GameFi Week 2024.

Preparing for the upcoming Summer Olympics games in Paris, Michel Cadot advised the Prime Minister’s Office to implement blockchain ticketing for all major sports events around the Olympics held in Paris. Individuals would receive their tickets as rotating QR codes via blockchain technology, with NFT tickets sent a few days before the event. These tickets will activate within a specific perimeter of the event location to reduce ticket fraud but also allow event goers to have a lasting memory on the blockchain.

As we see events like the Olympics and Leagues like the NFL, NBA, and MLB all experimenting with blockchain and NFTs in different ways, it begs the question – will on-chain assets be the future of athlete’s legacies? Let’s dive into how this technology is used to date and what this can mean for decades to come.

NFTs allow fans to own a piece of the game

NFTs allow fans to own a piece of the game by immortalizing iconic moments as digital collectibles. This preservation extends the game's impact beyond its venue, creating a timeless connection between fans and their favorite sports. By owning these unique digital recreations, fans can engage with the sport on a deeper level, experiencing a sense of ownership and participation that goes beyond merely watching or interacting on social media. This innovative use of blockchain technology ensures that memorable plays and legendary highlights can live forever, enhancing fan loyalty and engagement.

For example, a recent collaboration between AC Milan and Fanblock has tokenized the stadium experience. Fans can obtain virtual plots of land within stadiums, earning rewards based on in-game events that take place in their area during official matches, such as goals, assists, and yellow cards. In 2022, the AO announced a celebratory NFT collection called Art Balls, featuring 6,776 unique digital tennis balls. Fans and creators can submit designs for these NFTs. Owning an NFT grants access to a digital tennis court in Decentraland's Metaverse, where historical competition highlights are streamed. Additionally, each NFT is linked to a specific section of the physical court, and owners of the section where the winning shot lands will receive exclusive game data.

In addition, Major League Baseball (MLB), now offers game highlights in both historical and recent games, allowing fans to own a piece of content they could not before that can forever memorialize a favorite moment or a game that they attended. MLB also allows fans to own memorabilia from players in a digital format, paving a new way to support favorite players that goes beyond a physical piece of memorabilia or trading card that could get lost, stolen, ripped or broken. With these assets living on-chain and forever verified, fans lessen these previously associated risks giving longer life to these valuable pieces.

Star careers can become exponential

Professional athletes, some of the most physically and mentally gifted individuals, have long struggled to fully capitalize on their personal value. Traditional physical auctions often fail to capture revenue for the athlete or their estate. By leveraging NFTs, athletes can create new revenue streams that extend beyond their active career years, which typically last only 5-7 years. Agencies like Young Money APAA Sports are now providing clients with their own digital player cards, enabling athletes to profit from their name, image, and likeness and collect royalties on any resales.

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このデジタル アプローチにより、アスリートは名声と功績を永続的に活用することができ、そのレガシーから確実に経済的利益を得ることができます。 NFTは、仲介業者を排除することでオークションプロセスを民主化するだけでなく、アスリートにキャリアのハイライト、記念品、ユニークなデジタルコンテンツをファンに直接収益化する継続的な機会を提供します。タイガー・ウッズ、ハビブ・ヌルマゴメドフ、ステフィン・カリー、ミカ・ジョンソン、ソン・フンミン、ラファエル・ナダル、ライオネル・メッシ、トニー・ホーク、トム・ブレイディ、ウサイン・ボルト、ウェイン・グレツキーは、NFTコレクションの公式ライセンスを取得したアスリートのほんの一例です。

ファントークンを使用すると、サポーターは意思決定を行うことができます

また、ファントークンを利用するスポーツ組織の台頭も見られました – NFTとは異なり、ファントークンは代替可能、または交換可能な暗号トークンであり、使用できます

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