(NFT) Non-Fungible Tokens for Sports are currently one of the hottest and trending topics in the digital world. You surely would have heard about people spending millions of dollars on NFT-powered scarce digital arts and collectibles, like short video clips (NBA Top Shot), custom sneaker images (OpenSea), and more. It is because what started as a short-term fad is now turning into sustainable long-term investment opportunities.

NFTs encompass anything tangible or intangible of value, from virtual real estate and gaming to digital sports trading cards and arts. But, what is the significance of NFTs in the sports industry? What do NFTs have for players, clubs, and fans to offer? Why should they be interested in exploring the emerging trend? Read on to discover.

Also, visit this article to learn more about what is NFT technology and how it works (Link to previous blogs)

(NFT) Non-Fungible Tokens for Sports – Entering the Sports Space

The web is overflowing with news of sports personalities exploring the tech phenomenon to revolutionize their sports assets. For instance, Dallas Mavericks star Luka Doncic sold his autographed collectable NBA rookie card as an NFT sports token for $ 4.6 million. New York Mets starting pitcher Taijuan Walker, two NFL superstars Patrick Mahomes and Rob Gronkowski, the U.S. Open champion Bryson DeChambeau, and legendary soccer champion Pele are among other sports personalities exploring the NFT space. NBA Top Shot is a platform that Dapper Labs has developed in partnership with the basketball league. It is also emerging as an efficient means for basketball fans to indulge in NFT for sports.

 

These enthusiasts believe that the NFT technology is ready to transform the definition of ownership of value in the sports world. They consider it as another marketing opportunity. It is similar to leagues selling licensed apparel, video games, memorabilia, and more. Indeed, NFTs are just another class of e-commerce, but with more potential for investment-backed blockchain technology’s security and efficiency.

NFT Beyond Digital Arts

NFT buzz is not only limited to sports memorabilia, sports cards, and images. For instance, even sports clubs, players, and fans can explore the opportunities created by sports tokenization and NFT on blockchain technology. With NFT and tokenization,

• Clubs can tokenize and strengthen their royalty payments, contracts, and management of players.
• Players can tokenize their profiles, image, name, and likeness and create opportunities to join clubs globally. They can also opt for royalties for their tokenized assets and contracts. So, whenever a fan reproduces the assets, players become entitled to receive royalties in fractions.
• Fans can invest in NFT assets offered by these entities and trade them, such as signed autographs, owned cars, contracts (chance to meet and spend time with their favourite player). They can also trade these assets on the secondary market to highest the bidders.

 

About Blocsport.One

Blocsport.one is an emerging platform that bridges the gap between NFT and the sports industry. It enables sports clubs, players, and fans to realize the potential of the innovation by providing them with a range of solutions. Fans can utilize NFT collectable portals to invest in digital sports collectables, tokens, and contracts. Players can make use of the traits of blockchain to create unalterable player profiles for global sports contracts, payments, and more. And, clubs can use Smart transfer and scouting applications to buy and sell players. Clubs can also tokenize their sports assets, clubs, and contracts.

To ask us about anything, such as how (NFT) Non-Fungible Tokens for Sports is empowering the sports industry, submit your query, and experts will connect with you at the earliest.

 

Keeping a tab on the astounding array of information that keeps coming at us about emerging technologies can be challenging. From the buzz about the pricing of Bitcoin to the latest information about blockchain technology and so much more, not knowing enough about the trending blockchain-powered non-fungible tokens (NFTs) should not create a FOMO. This quick guide is here to help you understand everything about NFTs, including what they are, how they work, why they are becoming increasingly valuable, and how you can get started.

What are NFTs (Non-Fungible Tokens)

NFTs are tokenized representations of tangible and intangible assets such as artwork, contracts, and collectibles on the blockchain. From unique GIFs, tweets, unique wall paintings, and sports trading cards to even a limited-edition pair of Jordans can take the form of NFTs.

Essentially, they are digital content pieces of assets containing unique cryptographic identification codes and metadata that exist on the blockchain. Blockchain is the digital ledger that underpins cryptocurrencies like Bitcoin and Ethereum.

Scarcity is Crucial for NFTs Value Appreciation

NFTs have to be one-of-a-kind or at the very least one-of-a-very-limited-run and mutually not interchangeable, meaning no two NFTs can ever be alike.

The inherent value of NFT assets relies on their scarce nature among otherwise indefinitely available assets. Theoretically, if an in-demand NFT asset’s supply is limited, it increases its value.

NFTs are crucial for digitally and physically validating the scarcity, provenance, and ownership of rare assets. It opens up an infinite number of opportunities for exchanging unique and rare objects like digital art, collectibles, and game pieces.

NFT’s intended scarcity is essential, and it is up to the creator to decide. A creator can make each NFT unique to ensure its scarcity, for instance, as a rare collectible. Or, he may create thousands of replicas, each slightly different, such as a ticket with an allocated seat.

How Do NFTs Work

NFTs are stored on the blockchain, a decentralized public ledger that keeps track of each transaction immutably. Since thousands of computers globally get the same copy of the ledger, nobody can forge the stored information.

Today, Ethereum is one of the most popular blockchain platforms for the development of NFTs. Usually, NFTs are created using Ethereum’s ERC-721 token standard. It is a specification that specifies a minimum set of characteristics that must be present in all non-fungible tokens.

Also, visit this article if you want to understand how to get started with investing in NFTs in detail.

Technical Insights

Each NFT carries its own set of characteristics with itself, such as a unique cryptographic identifier. An NFT cannot be interchangeable with any other fungible or non-fungible tokens. Each token will always have only one owner with an easily verifiable identity on the blockchain.

To put it another way, if you own an NFT, you can easily prove its ownership. If you are an NFT creator, you can easily prove you are the maker of it. All this is possible thanks to blockchain.

Setting Up Automated Royalties

When an investor sells NFTs, contracts on the blockchain can ensure automated royalty payments to their original owners. It is a new idea under development for artists and athletes. It can enable them to sit back and collect royalties once their art or contract gets sold from one person to another.

Also, smart contracts for NFTs can include, for example, rewarding an artist or a player with a portion of any future token sales.

Fractionalizing NFTs

Companies like blocsport.one may also divide NFT into shares or fractions of ownership. It enables investors and fans to own a piece of an NFT without having to purchase the whole thing. As a result, they have a better chance of owning and profiting from the things they could not imagine before. It expands the possibilities for both NFT creators and collectors.

Blocsport.one enables investors to get started with NFT investments with its BS1 tokens.

Users can create, sell, and exchange fractionalized NFTs on NFT marketplaces like NFTdeals.io, as well as DEXs like Uniswap. It ensures there will be more buyers and sellers.

Still confused about all the jargon, connect with the experts at blocsport.one to know everything in detail.

“To my mind, the old masters are not art; their value is in their scarcity”. — Thomas A.Edison

What is blocsport.one: Blockchain of People NFT marketplace, smart sports contracts and DEFI money? Why do we launch our Blockchain of People NFT on Polygon

Blocsport.one started operations in late 2019. Initially, we focused on implementing our MVP solution for smart sports contracts with a particular interest in football. MVP was finished in May 2020 and offered to the market. We created a bridge. The bridge is connecting emerging markets like Africa and S America with more developed like Europe and N America.

MVP has powerful features allowing clubs to communicate directly and strike the deal creating a fully digitized smart contract on blockchain by moving the player between clubs at the same time. This solution uses private blockchain for data protection and secrecy of club to club transactions. It brings a lot of benefits — reduction of legal cost and unnecessary middlemen. It builds trust around the digital player profile with verified transparent data.

Despite covid difficulties, several players were moved between clubs and the first smart contacts signed.

The new idea — nftdeals.io as an exclusive sports platform

Now, we are moving forward with the new idea and we are building the bridge again. This time with Polygon and on public blockchain which is Ethereum.

Our exclusive platform for athletes allows producing their own digital content and offer it to their beloved fanbase. It brings athletes, brands and collectors together in search for up and coming stars of the future and their valuable collections that might be worth millions now or tomorrow.

We are pushing the Blockchain of People NFT on Polygon market forward with the ability to tokenize contracts and a new authentication method trademarked by us — Blockchain of People (TM).

The platform got a separate domain https://nftdeals.io and a fresh less business and more “cool” look than parent company https://blocsport.one but here came a problem. The fees.

Polygon.Technology to the rescue

Each blockchain transaction on Ethereum, despite how awesome it is, comes with around 30–50 dollars in cost. That is why we decided to move to Polygon as it’s the best L2 solutions by far at the moment.

The warm welcome that we got from the Polygon (former Matic) team and the level of support is amazing. We are more than happy to continue our work and develop our first NFT drops soon on https://polygon.technology/

Currently, we are mapping our contracts and in the near future, we will create the first digital collections on our platform.

Domen Prevc, NFT collection & Porsche on lottery

Domen Prevc, a wunderkind ski jumper from Slovenia is the latest addition to NFT hype around the world. With his approach and contribution to the NFTs, crypto and blockchain in general, he is changing a game. Before we talk about NFT Porsche let’s take a look at his career.

Early days & career development

But first, let’s take a look at his background. Domen Prevc was born 4 June 199) and he is the younger brother of world cup ski jumpers Cene Prevc and Peter Prevc. From his young age, he fell in love with sports and nature. He was quickly discovered as one of the most promising ski jumpers in the world. He competed in the 2015 European Youth Olympic Winter Festival. Domen made an individual World Cup debut on 22 November 2015 in Klingenthal with eighth place. He needed only four World Cup starts to reach his first podium on 19 December 2015 in Engelberg where he took second place. At that event, Domen and Peter Prevc shared a podium as the first brothers in the World Cup history. Wonderkid won his first World Cup individual event on 25 November 2016 at the 2016–17 season-opening in Kuusamo/Ruka, and therefore wore a yellow bib as the World Cup overall leader for the first time in his career. Soon after that, he won another three December World Cup individual events in Klingenthal, Lillehammer and Engelberg. It was a fantastic time for him.

Sports success story

On 28 January 2017 in Willingen, three brothers represented a national team for the first time in the World Cup team event history, as he jumped with his brothers Cene and Peter. Despite his youth, he competed for the first time in his career at the ski flying event in Oberstdorf on 3 February 2017. On 19 March 2017 in Vikersund, he improved his personal best jump to 243.5 metres. So in ski jumping, the sky is a limit for him.

It’s more than meets the eye. A swift businessman.

But what about his business endeavours? Prevc’s family are the owners of a few furniture stores in Slovenia so he was into the business from a young age. He stood out from his peers also in that area in which he always tried to get the most knowledge out. He is a »crypto OG« as they say »in the space«, very familiar with the technology behind it. When the possibility of NFTs became a reality, he took the chance with both hands. He will be participating in his own NFT digital collection on nftdeals.io, but he also took a step forward in combining the physical and digital world.

NFT Porsche? Real Porsche connected to the token.

He sees a lot of opportunities in tokenization of his image rights since there is a lack of marketing done by agencies and federations and he wants to be the one who will break the ice and help himself and others on that path. As he mentioned in the latest interview, he will be giving away his own rare collectable car, Porsche 911 (the model year 1978) connected to NFT, so the people who are buying and investing in NFTs will have a chance to get, drive and enjoy a physical item from a star athlete which never happened in history. He wants to make a statement and move the sports vehicle into a new era of development.

So what can we say at the end? We can say Domen is definitely someone who is a visionary and who is changing a game. For better!

More about NFT (Non-Fungible Tokens) below:

NFT marketplace: here

Medium blog: here

Instagram: here

Twitter: here

Discord channel: here

Facebook link: here

Linkedin: here

Main blocsport.one site: here

The sports industry is particularly tailor-made for innovation through sports tokenization and contracts on blockchain technology. Read on to discover how emerging concepts can transform the sports space.

Blockchain-based Tokenization  – sports tokenization

Tokenization is the process of creating digital tokens of real-world or intangible assets of value on Blockchain. These tokens (fungible and non-fungible) can range from cars and real estate to sports teams, sports club assets, in-game purchases, and more. Owners of these tokenized assets become entitled to gain benefits from various rights, including ownership, contractual events, profit participation, governance, and more. Essentially, tokenization and contracts unlock the value and utility of such previously illiquid assets while improving their accessibility globally with lower fees and friction. In the sports industry, they can drive significant developments for players, clubs, sponsors, and fans. They can propel inclusion and engagement globally while generating revenue.

How Tokenization and Contracts on Blockchain Benefit Sports Stakeholders

For Players

When we say tokenization and contract creation of anything of value on blockchain technology, it also includes a player’s, either professional or amateur, name, image, performance, or even likeness. Players can create blockchain contracts (ID) or tokenize themselves or these intangible assets. Further, clubs, fans, and sponsors can invest in their favourite players and achieve fractional ownership of tokenized assets. The value of these assets may appreciate or depreciate depending on various factors. On the other hand, it will enable players to join clubs, hire agents, sign endorsements and promotional deals, engage with fans, and do more globally in the most secure, efficient, and innovative way. Ultimately, it increases their chance of selection by a sports team and signing an attractive contract in a prominent league. They can also tokenize their (current and future) salary or revenue and exchange it with investors for instant liquidity and investment. NBA player Spencer Dinwiddie is one example of trying to achieve this.

For Fans

Fans can opt for a fan engagement token or contract, which can be fungible or non-fungible (NFT). It provides them access and influence over decisions made by their sports team and players and their associated assets. For instance, it entitles them to vote on club matters like kit designs, training ground names, or even deciding charity initiatives. Also, they can benefit from the future success of athletes by investing and enabling them to participate in prominent sporting events.

 

Fans and investors can store and track their assets in a blockchain-powered wallet like AlphaWallet or MetaMask. Further, they can trade the appreciation in a token’s value if their players perform well. That’s how fans and investors can own and trade a previously illiquid asset.

 

Interesting Fact: The Spanish champion Barcelona, in June 2020, crowdfunded US$1.3 million in no time by crowd selling 600,000 fan tokens. With these tokens, each token owner gets exclusive rights in the club, such as voting in polls and f                                                                                                                                                                                                                                                                                                                             For Clubs 

Tokenization of your team, club, or sports assets means providing democratized access to alternative asset class benefits. Essentially, it means creating liquidity for global investors by enabling them to invest and trade team tokens. Fans, sponsors, and other investors can buy and trade NFT tokens or contracts issued by a club, representing securities like bonds or assets or assets like memorabilia, sports cards, or more. On the other hand, clubs can offer loyal supporters rewards with tokens, which have a value that they can turn into cash, discounts, merchandise, or digital collectables. They can even grant limited governance rights to holders as well. Last but not least, they can also enable athletes to receive incentives for loyalty and performance. Altogether, club tokenization can reduce friction among clubs, players, and fans globally.

Need to know more about tokenization, NFT, smart contracts, DeFi, and more in the sports industry? Visit blocsport.one and connect with the experts.

 

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For young athletes, branding themselves online has become imperative to drive their success as up-and-coming professional sports stars. Personal branding helps them convince current and future prominent sponsors and brands that they can be a beneficial fit for their organization. It supports them in creating sufficient public goodwill to begin and sustain their philanthropic initiatives while also propelling their professional career.

NFT, Blockchain, and Smart Contracts for Young and Emerging Athletes

However, challenges in the form of various complex rules and regulations, sports contracts, archaic and centralized sponsorship processes, and branding strategies make it difficult for them to establish themselves in the sports space. Consequently, young athletes capable of emerging as eminent stars fail to obtain sufficient money, sponsors, and brands for personal branding. They fail to get enough support from brands and fans to utilize their NIL (name, image, and likeness) for profit.

Professional athletes and celebrities lend their appearance, talent, or voice to brands and sponsors for gaining profit. But now, emerging athletes have their turn to do so with technologies like NFT (non-fungible tokens), blockchain, and smart contracts. NFT on blockchain is not limited to sports collectibles, trading cards, and digital tokenized assets. These technologies provide them a legal opportunity to make effective use of their contracts, including NIL, for generating profit before struggling to earn a regular salary or money as professional athletes.

Utilizing Sports Contracts and NIL (Name, Image, and Likeness) Rights for Personal Branding with NFTs

Generally, it is difficult for athletes to obtain sponsorship from different brands and sponsors due to various limitations. For instance, a brand’s contract terms may limit them from endorsing another brand during the contract period. Also, brands and sponsors remain reluctant to sign up-and-coming athletes due to authenticity challenges. Additionally, fans fail to find authentic ways to support their favorite young athletes in becoming future stars.

NFT contracts on blockchain in such scenarios emerge as a potential concept for exploring trademark guardianship in the era of name, image, and likeness. They provide young athletes with the opportunity to utilize tokenized fractions of sports contracts, including their assets, name, image, and likeness globally securely and efficiently.

NFT can connect investors, brands, and sponsors with them in the most secure, efficient, and innovative way. Fractionalized NFT contracts render it possible for them to obtain more than one brand or sponsor for branding and sponsorship. Also, it provides brands and sponsors a way to validate the authenticity of these NFT contracts. With fractionalized NFT contracts on a blockchain, fans can also get a piece of their favorite athletes. They can play a significant role in financially supporting their future sports stars while ensuring a sustainable investment opportunity for themselves too.

In a nutshell, for all involved stakeholders, NFTs use case as smart sports contracts revolutionizes:

• The transfer of players from one club or team to another
• Information gathering of performance statistics for authentic sponsorship
• Validation of social and professional presence for branding contracts
• Investment in fractional ownership of athletes’ sports career by fans to support them in professional career-making
• The lending of athletes’ name, image, and likeness as tokenized assets for reproduction by fans, sponsors, and brands, for-profit

How Football Agencies Benefit from Fractionalized NFT-based Smart Sports Contracts

In April 2015, FIFA prohibited clubs and players from contracting third-party investors for economic rights agreements. However, an NFT contract does not infringe on this regulation. Essentially, companies like blocsport.one divide one comprehensive NFT sports contract into hundreds of pieces and connect investors globally with those pieces. Thus, any sports agency willing to digitize its contracts can do so while adhering to the regulation.

Blockchain for Ensuring Security and Transparency

It is blockchain, the underlying technology, that powers the security and efficiency of NFT-based sports contracts. Its distributed ledger ensures immutable yet transparent recording and storage of each transaction and information.

Visit blocsport.one to know everything about how agencies can digitize their contracts and how young, up-and-coming athletes can enter the NFT marketplace and make use of their marketing and NIL rights. 

 

Overview

NFTs (Non-fungible tokens) are an emerging class of digital assets. They have piqued the interest of both consumers and investors. Athletes, celebrities, and artists have started exploring NFT technology to monetize their brand, image, or work. Even though this asset class is in its infancy, legal and regulatory challenges that transpire around it are genuine. This article outlines critical legal considerations and implications related to NFTs in sports for athletes as they plan and implement their NFT plan.

Determining Whether an NFT is a Security or Not?

The reason for which an NFT comes into existence and then sold is one of the most crucial considerations in determining whether it is a security or not. For instance, an NFT is a representation of a tangible or intangible asset like a photograph or piece of digital art. If its owner auctions it in the form of a collectible with the authenticity powered by blockchain for public assurance, it is unlikely to be categorized as a security. However, if an NFT development and offering occurs as a mechanism for the general public to make investment returns, it is more likely to be classified as a security.

NFT makers aren’t the only ones who have to worry about whether or not an NFT is considered a security. Operators of NFT exchanges must also evaluate this problem carefully. If an NFT exchange platform makes a market for an NFT that is a security without adhering to regulations, it might face SEC penalties for running an unregistered securities exchange.

NFT and Rules and Regulations

Star athletes like Tom Brady, Patrick Mahomes, Rob Gronkowski, and soccer legend Pelé are jumping on the NFT bandwagon by forming their firms and producing their own NFT collections. Indeed, the NFTs market must be considered big business when millions of dollars are involved. So what do laws, rules, and regulations have to say about NFTs and sports?

Copyright Law

Copyright law in the United States necessitates assigning a certificate of copyright and ownership for original work to content owners. It gives owners the ability to restrict who copies, sells, licenses, or transfers their original content and who can create derivative works from the original work. Let’s understand how copyright law applies to NFTs.

The assumption is that, for instance, when you buy an NBA Top Shot Moment or one of the recently released Pelé NFTs, you are just purchasing ownership in the NFT and not its copyright.

A buyer does not have copyright ownership unless there is a formal contract with precise conditions specifying that the seller has assigned the copyright to the buyer. What exactly does this imply? It implies that a customer can’t lawfully produce copies of NFTs or sell, license, or transfer the NFTs’ copyright. On the other hand, a buyer must seek evidence that a seller owns an asset and has the right to create NFTs of the content. In summary, purchasers need to understand the conditions of sale detailed by an NFT marketplace. They must know what they’re purchasing and what kind of rights that they have gained.

NFTs and Name, Image, and Likeness (NIL) Rights

In the sports industry, NIL rights have become the talk of the town. And there are some relations between them and NFTs. When you combine NFTs with NIL, you have another opportunity for up-and-coming athletes to profit from their name, image, and likeness via auctionable digital collectibles and NFT contracts.

Indeed, the efforts to permit NCAA players to profit off their name, image, and likeness are growing. Currently, collegiate athletes are not allowed to receive any pay.

However, things may change soon as states have started enacting their NIL legislations, along with proposal submission at federal levels. Sooner or later, college athletes can collect remuneration for their name, image, and likeness through blockchain and NFT-enabled marketing partnership, collaboration, and endorsement contracts.

Conclusion

NFT is still an emerging concept. Thus, sports clubs, leagues, athletes, or investors dealing with NFTs must consult a securities lawyer. They must validate that there are no possible difficulties with an NFT’s strategy irrespective of whether it is considered a security and subject to securities regulation or not. It is also crucial to grasp the legal aspects that limit and enable them.

As NFTs grow in popularity, sports leagues and individuals will have more options to sell themselves, and thus, they must be prepared to deal with legal implications.
Blocsport.one is a sports powerhouse that develops solutions aimed toward reducing friction in outdated sports processes while ensuring efficiency and cost-effectiveness. It does so while being compliant with all the present rules and regulations.

 

NFT (Non-fungible tokens) are taking the cryptocurrency world by storm. They facilitate content creators/owners to monetize scarce images, sports collectibles, contracts, tweets, videos, and whatnot for millions of dollars. Recently, for instance, digital artist Beeple auctioned an artwork for approximately $70 million. In another example, Jack Dorsey, the CEO of Twitter, put his first-ever tweet for auction as an NFT token. The top bidder bought it for nearly $2.5 million. So, what are non-fungible tokens and why are people investing millions of dollars in this emerging crypto phenomenon? Let’s find out.

What are Non-Fungible Tokens (NFTs)?

NFTs are cryptographic tokenized representations of unique tangible and intangible assets powered by blockchain and smart contract technology. The underlying blockchain technology renders them secure, authentic, and traceable. Content owners invest in NFTs to monetize almost anything unique ranging from collectible virtual sports cards, real-estate assets, and digital sneakers to cars, drawings, music, or image rights.

What can become an NFT token/collectible 

Fundamentally, the use case range for NFTs expands beyond conceivable. Anything unique with provable ownership can be an NFT token or crypto collectible. The following are a few examples of NFTs.

• An artwork
• A limited-edition of sneakers
• A rare in-game item
• A piece of content
• A sports collectible
• An event ticket

The Importance of Scarcity in NFTs

A creator of an NFT gets to decide the supply (or scarcity) of a tokenized asset. For instance, a creator can choose how many NFT replicas of an asset can exist. These can be exact replicas, such as 1000 copies of an image. Also, the creator can create only one NFT as a rare collectible. The scarcity of NFTs is a crucial aspect that facilitates massive investment potential in them.

Investing in NFTs

Essentially, the investment opportunities provided by NFTs stem from their uniqueness and irreplaceability. One NFT cannot be interchangeable for another NFT or digital asset, thus, making it a one-of-kind. Due to this scarcity and their resale value, they have become quite popular among crypto and NFT collectors and investors. Investors pay enormous amounts of funds to get their hands on these NFTs. It is similar to purchasing traditional pieces of fine art. However, instead of holding on to them, selling these assets to the highest bidder generates significant gains on investments.

How to Enter the NFT marketplace?

Businesses and individuals, including sportspersons and sports clubs, can create, buy, and sell NFT tokens or crypto-collectibles on online marketplaces for NFT investments, like blocsport.one and nftdeals.io. Users only need to visit these websites and then follow the instructions to enter the NFT market.

The Process 

Users need to visit these dedicated platforms and upload their files. Then, the platform transforms them into NFT tokens. Here, NFT owners can also include specifications like a description of the work or image rights and expected pricing. They can attach metadata or attributes related to an NFT asset. For instance, an artist can sign its digital artwork with a signature in the metadata. Once the NFT is live on the platform, it is ready for buyers to invest.

The Future of NFT (Non-Fungible Tokens)

As reported by Al Jazeera, in 2020, NFT sales crossed the mark of $250m while the all-time investment reached about $534m. In 2021, these numbers can go even much higher, given the recent buzz and increasing interest of renowned celebs, sportspersons, companies, and more in NFTs. The NFT market is volatile and nascent. However, the significant potential they offer makes them a viable, long-term investment option.

More about NFT (Non-Fungible Tokens) below:

Medium blog: here

Instagram: here

Twitter: here

Discord channel: here

Facebook link: here

Linkedin: here

Main blocsport.one site: here

NFT NCAA Accelerator is a game-changing innovation

NFT is the perfect tool to close the market gap between the fans and the young promising athletes, helping the athletes to raise the money and get the exposure required to progress in their career and become new sports icons. The fans and investors can have verifiable ownership of athlete’s assets in the form of NFTs.

Surprisingly, with the NFTs and DeFi platforms flourish, there was no exclusive sports NFT marketplace or DeFi platform that aims to help to close the market gap between the young promising talents and the fans. Now there is one.

Blocsport.one mission and focus

Swiss sports tech company blocsport.one is building a transparent and reliable sports ecosystem uniting athletes, clubs, brands and fans using blockchain. The company was created in 2019, headquartered in Zurich and to this day went through 2 successful investment rounds.

At first, we built a blockchain-based app for football player registration and transfers, beta is live and the first smart contract transfers executed.

As our second focus project now, we have already launched NFTdeals.io with the Rising Sports Stars official NFT collection, which is the first step to an exclusive NFT NCAA Sports Accelerator.

We help the young promising athletes to get the money and exposure for their career development, which is nobody else doing in the world!

Why buying NFTs of young athletes?

There are tons of NFTs nowadays available in many cluttered marketplaces, mostly having no value whatsoever. But the NFTs representing real assets of athletes that have high chances to become the next famous global stars are a different story.

We are building the marketplace with our NFTs 2.0 to get collectibles of emerging high potential star athletes of the future when they are just promising rookies. A successful sports and media career might provide significant upside potential and generate great value.

The Rising Sports Stars Accelerator

Blocsport.one is developing a platform to select, crowdfund and nurture the young athletes, to grow the emerging sports stars at scale. We are aiming to make a significant impact on the way the sports market works now.

Blockchain-based solutions enable crowdfunding at scale and sharing career success and profits with a community in a transparent and secure way.

Our focus is the NCAA (National Collegiate Athletic Association) space with over 500.000 athletes registered but the solution can be easily embraced worldwide. The new NCAA guidelines permit collegiate athletes (NCAA athletes) to sign and monetize their business contracts, assets, and NIL rights. This is a huge opportunity for the athletes and the sports business. But there is no platform or marketplace uniting the athletes and sports investors yet.

NFTs 2.0 in the making

There are many options that brands, fans and collectors can interact with the athletes and Rising Sports Stars NFT NCAA Accelerator pushes today’s NFT offering to another level.

The typical process starts from athlete authentication through our Blockchain of People (TM) solution. We want to be sure that registered people are real and IPs are real.

Then athletes are ready to create their GENESIS tokens that reflect the name, image and likeness as well as access NFTs that enable fans to interact with the athlete depends on engagement levels with access to content, VIP voting, meet & greet, collectibles and much more.

GENESIS tokens are super important because they form the Athlete Power Index, one of its kind tool to measure athlete potential and future upside. It allows athletes to build communities around them.

At the same time, fans can interact with blocsport.one native token ($BLS ticker, buy here) and earn with the athlete’s NFT enabling staking, affiliate program to earn BNB, access to exclusive NFTs and games of skill. The first games linked to the NFTs will be launched in August.

Beyond NFTs — institutional sports

Blocsport.one already have the football (soccer) Scouting App beta live, with biometric-powered athletes IDs stored securely on the enterprise-grade blockchain, with the athlete’s profiles, performance records and professional videos available on the transparent and secure platform.

Clubs, academies and federations can easily access and verify players information before making a hiring decision, communicate and process club-to-club transfer in a highly secure and efficient paperless way. The first players have been transferred with smart contracts already to European clubs.

Tokenization tools for intangible and tangible assets like marketing right contracts, player contracts, clubs tokenization & financial liquidity with the use of tokens are being discussed with clubs and associations in Europe.

Blocsport.one has all that it takes to grab the huge opportunity opened by the NCAA and make it a new profitable and sustainable business model for the win-win collaboration of all the sports market participants, in the fairest and transparent way, on the blockchain.

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https://nftdeals.io

The internet is one of many examples of exponential growth of tech innovation despite being complex initially. A glance at its past reminds us how smoothly technology can transform from science fiction to a mainstream concept. We, at blocsport.one, have that similar belief in non-fungible tokens (NFTs).

NFT is emerging technology development in the crypto space. It refers to digital files/token representation of unique tangible and intangible assets like arts, sports collectables, videos, audios, and others powered by blockchain technology. Recently, people have started investing millions of dollars in NFTs and continue doing so. A recent example of that is Jack Dorsey’s tweet selling in millions.

So, what is the reason behind all this hype? And why and how should you invest in the burgeoning market of NFT? Let’s explore.

Understanding NFTs (Non-Fungible Tokens ) 

Essentially, an NFT is a digital token representation of a unique tangible or intangible but scarce asset. It can be in the form of tokens, collectibles, or contracts. Further, blockchain and smart contract technology ensure the ownership, traceability, and security of that NFT token/collectible. Advanced security and authentication mechanisms of these technologies provide immutable proof and validation of that NFT asset. Therefore, an NFT does not become vulnerable to fraud, duplication, or theft.

Why Invest in NFTs/Crypto Collectibles

Each asset representation as NFT that comes into existence is unique, scarce, and original. Thus, owners can think of them as specific digital assets that nobody else owns, but they only do. For instance, people might still have an image or a piece of art. But, they will have no possession over the original form of that asset. Here, NFTs emerge as an investment opportunity, considering the resale value of that asset.

It is similar to purchasing a physical piece of fine art. However, having possession over it only does not promise any returns. Instead, generating significant returns requires auctioning that piece of art to the highest bidder. For instance, purchasing a unique NFT and then selling it for more in the aftermarket can provide huge returns.

This idea of selling scare assets as tokens with blockchain-powered features makes them more enticing for investors.

Where and How to Buy NFTs

You would have heard about celebs and sports personalities selling NFTs. And, now you also want to invest in them and grow your collection. There are marketplaces available that let users shop or bid on NFT deals, like blocsport.one and nftdeals.io. They let them browse deals on assets like digital art, cars, contracts, and other collectibles, including clubs and players, and bid, buy or contract them.

How to Create and Sell NFTs

Users can also start investing and selling their unique collection of assets like digital art, sports collectibles, and more as an NFT token or a contract on these NFT Portals. They can also enable royalties with their NFTs. Royalty payment for reselling them on the secondary market depends upon their current sale price.

blocsport.one for Sports Clubs, Players, and NFT collectors

blocsport.one is a leading name in blockchain and biometrics implementations. It offers NFT solutions to clubs, players, and sports fans, like the NFT collectables portal, player scouting portal, crypto wallet, and more. Using the platform,

• Clubs can invest in emerging talented players with smart transfers and scouting apps
• Players can utilize blockchain technology and biometrics to list their sports profiles as amateurs or professional players
• Collectors can browse and invest in a range of sports collectables, contracts, and more

Conclusion

We must separate the artistic movement from NFTs and consider it a growing technology and a reliable investment alternative. NFTs are not new technologies. They have primarily come into existence to make unique cryptographic representations of assets. They are here to stay and augment the financial services sector as we know it.

 

More about how to buy and invest in NFT (Non-Fungible Tokens) below:

Medium blog: here

Instagram: here

Twitter: here

Discord channel: here

Facebook link: here

Linkedin: here

Main blocsport.one site: here

Invest in NFT with us!