Global Sports NFT Trade To Exceed $2 Bln in 2022

According to the Deloitte TMT forecast for 2022, the global sports NFT market will exceed $2 bln in transactions this year. Player cards and limited edition video clips of major sports highlights will be the most profitable use of sports NFTs. The pricing of sports NFTs will depend on the significance of the athlete, event, additional content and demand, according to Deloitte forecasts.

In the past few months, the sport has been gaining momentum in the metaverse and the NFT space. For example, in January 2022, TNNS Pro announced the launch of an NFT sports platform exclusively focused on athletes. Around the same time, sports betting company Entain announced plans to develop gaming and interactive entertainment products for the metaverse with a budget of $133 mln.

Deloitte's 150-page paper notes that favorable regulatory policies are needed to tap the full potential of the global NFT market. It also says that the government has the largest pool of resources that can be monetized by converting them into NFTs. These resources include artefacts and a database of significant moments in art, culture and sports.

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