NFTs and Sports What Blockchain

1 yr
3 Min Read
542 words


NFTs and Sports What Blockchain

Earlier today I wrote about how Wax Topps NFTs and NFL NFTs On Polygon but those are only two of the sports and I hate to tell ya they are some of the smallest when you put them up against cricket (yep cricket) and soccer (football). The value of these markets blow the Baseball and American Football teams and following out of the water.

We have yet to see NFTs being used for them though but we are starting to see some interest as companies are looking what platform would be a good fit to host their NFTs on. You also have this stupid battle right now from clueless people saying that NFTs are polluting the world and are the number one worst thing for the environment. It's laughable and I'd laugh but people are down right dumb and just jump on the bandwagon instead of doing research. *That's a topic for another day

What NFT Blockchain

Right now the primary blockchains for NFTs are WAX and Ethereum however many platforms are now starting to adopt this including DeFi contracts as well which are possible when smart contracts are added to these blockchains. A innovation Ethereum launched long ago and why it's a staple right now for the industry.

What we don't see however is new companies and sports industries flocking to Ethereum to house their NFT projects. Those days are gone and everyone it seems learned their lesson when Ethereum fees skyrocketed to $80!

The NFT Marketplace Is Driving Demand

I also laugh when people tell me how worthless NFTs are. My rebuttal to that is have you ever collected cards be it a game or sports? Most people would answer yes and most people did it because they thought the value of the card would go up.

Does that put NFTs in the same spotlight?

Nothing truly has any "value" until the point of sale. What one person is willing to do or trade in exchange for something else. That goes with FIAT currency, crypto currency, trading cards, NFTs and legit EVERYTHING so those of you reading this that keep trash talking this stuff it's time to smarten up!

What many influencers, music artists and artists have found out already is that NFTs are a great way to provide value and drive sales for themselves. This is something mega companies like the NFL etc have been slow to react on however are starting to see the value.

The Next Moves

I firmly believe we will see these sports companies start to launch NFTs however it's going to be slow and it will most likely be on Polygon or another blockchain that teams up with them offering them a low cost solution without all that power sucking for mining. Heck some might even be waiting till Ethereum goes to PoS (Proof of Stake) time will tell but what we will see for sure in the next few months are other sports teams starting to jump into the NFT marketplace to stir up some hype and news about their teams to breath life back into sports again.

What blockchain do you think a majority of sports will go on?

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People often forgot that different things appeal to different people, those who think NFTs are dumb are simply stating a personal opinion without considering the obvious attraction some people have to trading and collecting via NFTs.

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I had no idea cricket was so big before I joined Hive.

This NFT thing is crazy and I think we haven't seen anything yet. It's going to be much bigger than some people believe

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Yep, it's wild I wasn't expecting that high of numbers but they are up there! What's funny is someone I know that is heavy into sports just become super interested in cricket. Must be some new trend picking up so I'm now curious to catch a good game myself.