Everything to know about NFT Sports Marketplace Development

Undoubtedly, the metaverse has grown immensely. Likewise, domestic and international athletes, renowned teams, and leagues are launching their collections on various marketplaces. Fans of sportspersons are making bids for these rare collectibles (trading cards, packs, moments, videos, and merchandise) by taking part in auctions. Are you an entrepreneur with a great interest in Web 3.0 technologies? Begin NFT sports marketplace development

Why are Non-Fungible Tokens (NFTs) the big thing in the global sports industry? 

Basketball, football, cricket, Formula1, baseball, horse racing, etc., and the list is endless. Crypto collectibles are gaining more traction in the sports sector. Unquestionably, fans tend to follow the on-field and off-field activities of their favourite players closely. 

For instance, many platforms are providing opportunities for selling various types of collectibles (common, rare, ultimate, legendary, and ultra-scarce). Hence, sports aficionados can prove their fandom for popular athletes. They will receive real-time updates about drops and auctions. Moreover, owners of NFTs can amass a collection of trading cards and packs. They can participate in challenges, compete against fellow sports fans, and win valuable rewards. 

How the sports industry will adopt the metaverse in 2022

As per Deloitte, (an international consulting company), sports teams, leagues, and other stakeholders can pocket $2 billion by launching NFTs this year. Interestingly, around 4 to 5 million sports fans will either purchase or get a crypto collectible by the end of 2022. 

Importantly, more attention will be given to the ownership of crypto collectibles, multi-chain compatibility, and authentication of limited-edition Non-Fungible Tokens (NFTs). Besides that, laws related to Intellectual Property (IP), Copyright Protection, and Royalty will change significantly. 

Undoubtedly, the focus will be towards maintaining the interests of athletes, broadcasters, team owners, and die-hard fans. Interestingly, fantasy sports will also witness huge growth in 2022. 

Hence, users need to take part in challenging contests, prove their skills against fellow players, trade virtual cards, and get rewards. Moreover, next-gen technologies like Augmented Reality (AR), Virtual Reality (VR), Artificial Intelligence (AI), and Machine Learning (ML) will transform how sportspersons interact with their fans. 

Therefore, a mix of physical and digital content will determine the future of the sports sector this year. Importantly, Non-Fungible Tokens (NFTs) tick the right boxes in terms of immutability, scarcity, interoperability, and transparency. 

Know the leading Sports NFT Marketplaces in 2022

Sorare 

Since its launch in 2018, Sorare has grown significantly. Operating on the Ethereum blockchain, football fanatics can purchase limited, rare, super rare, and unique collectibles every season. They can create squads, formulate a strategy, and receive points. Generally, this depends on the performance of players in matches. 

Besides that, users get prizes every week by competing against managers of various national and international clubs. Interestingly, around 100,000 managers own at least one Sorare collectible. 

The French startup has partnered with around 227 clubs across the globe. Besides that, fans can purchase NFTs of 39 popular leagues. It comprises the AFC Champions League, Bundesliga, Copa America, Chinese Super League, Russian Premier League, La Liga, Serie A, Super League, and the UEFA Champions League. 

F1 Delta Time 

 “Jaw-dropping” is the right phrase to describe a car race. F1 Delta Time on the Ethereum blockchain does exactly that. It conducts Grand Prix events every week. Generally, users can create an account and link digital wallets like MetaMask, Fortmatic, Dapper, Portis, and Bitski.

With a special focus on Play-to-Earn (P2E) gaming, Revv Motorsport and F1 Delta Time are revolutionizing racing. Importantly, the various features include an Action Arcade Racing Gameplay, a Grand Prix mode, a Staking facility, and a Time Trial mode. 

Currently, F1 Delta Time is organizing races across countries like Singapore, Japan, and also the European continent. Besides that, it ensures transparency as details of standings, results, timings, and scores are displayed every week. Moreover, the leaderboard displays data about races being held across nations like Australia, Bahrain, China, Italy, and Great Britain. 

NBA Top Shot 

It sells licensed collectibles of both the National Basketball Association (NBA) and the Women’s National Basketball Association (WNBA). Moreover, the trading volume of the NBA Top Shot has crossed $51.86 million in the last 30 days. Around 153,680 users have processed 5.36 million transactions on the platform. Built on the Flow blockchain, users can purchase packs and moments and also keep a close watch over their favourite teams. 

They can win prizes and packs by completing legacy and flash challenges. Generally, their rewards depend on their knowledge of the stats and events of NBA games. 

Moreover, NBA Top Shot is also selling all-star VIP Pass NFTs. Fans will get VIP access to the next NBA All-Stars in 2023. Sports aficionados can utilize their existing Dapper balance and make bids for collectibles of the 30 teams. 

They will receive real-time updates about auctions. The perks include bowl tickets, guest invitations to NBA reception, a VIP merchandise bag, a behind-the-scenes tour, and an on-court photo of the all-star game court. 

Sportium 

It sells licensed collectibles of football, baseball, and basketball. For instance, fans can purchase NFTs for the K League, Kovo, and the Korean Basketball League. Interestingly, they can collect rare moments, receive collection points, redeem their $SPRT tokens, and get special edition cards. 

Moreover, Sportium is also planning to come out with Fantasy Leagues and Play-to-Earn (P2E) games in the future. The future roadmap of Sportium will focus on integrating live streaming, launching an OTT platform, and organizing zap auctions. Sports fans can also buy NFTs with the Circle Pay credit card. Importantly, Sportium safeguards the personal and financial data of users through on-chain storage. 

Wrapping Up

The future of the creator economy lies in the metaverse. Want to be an integral part of it? Connect with a white-label solution provider for NFT sports marketplace development. 

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