NFL Set to Embrace Blockchain
The sporting world and cryptocurrency industry continue to grow closer as more sports organizations are exploring ways to adopt blockchain, and crypto-related products.
The National Football League (NFL) – according to its recent job posting – has revealed its interest in exploring blockchain technology. The NFL – via its official website – posted a job opening for the role of a director of emerging products.
The job postings showed that the NFL was looking to hire someone who will focus on digital products. The post suggested that the football league is looking to actively get involved with blockchain, non-fungible tokens (NFTs), and cryptocurrency.
Similarly, Sports Business Journal had earlier reported that Brian Rolapp, NFL’s Chief Media and Business Officer, had sent a notice to teams disclosing that the NFL was exploring blockchain for ticketing, and collectibles. If ultimately adopted, it is worth knowing that the move will boost the mainstream adoption of blockchain, and digital assets.
The NFL is the world’s most profitable league with an estimated $16 billion in pre-pandemic revenue and an enormous fanbase. Its annual Super Bowl event despite a recent decline in ratings still recorded attendance of 98.2 million people in 2019.
Notably, the National Basketball Association (NBA) is ahead of other leagues with the launch of NBA Top Shot. Top Shot links NBA fans to NFTs and also provides a new form of income for sports leagues, teams, and players.
However, experts have argued that the NFL decision could lead to the onboarding of other American leagues (NHL and MLB).
NFL Players Already Championing Blockchain + Crypto
Meanwhile, while the league is taking its time to roll out blockchain-related products many NFL players have declared their support for it. Various NFL stars have via different means clamored for the football league to support blockchain and digital currency.
Russell Okung, Carolina Panthers player and the vice president of the NFL Players Association, has been canvassing support for crypto. In 2020, Okung converted his salary to Bitcoin becoming the first NFL player to be paid in cryptocurrency.
Matt Barkley, Buffalo Bills quarterback in 2019, revealed that he attempted to have his two previous teams, the San Francisco 49ers, and the Cincinnati Bengals pay him in Bitcoin.
Rob Gronkowski, Tampa Bay Buccaneers tight end also launched his non-fungible token (NFT) collection. According to reports, he sold more than $1.6 million worth of digital trading cards of himself. Patrick Mahomes, Kansas City Chiefs quarterback also auctioned more than $3.7 million worth of crypto artwork.
Tom Brady, quarterback for the Tampa Bay Buccaneers is however far ahead of the pack with the launch of an NFT platform dubbed ‘Autograph’. The seven-time Super Bowl champion inked a deal with entertainment firm Lionsgate and betting platform DraftKings to launch the initiative.
Got ‘ships? We do. Big day for @Autograph as we’ve partnered with some kinda maybe somewhat well known athletes…LFG pic.twitter.com/NF8uePkcJL
— Tom Brady (@TomBrady) July 21, 2021
Also, Autograph tapped other sports legends such as Tiger Woods, Wayne Gretzky, Naomi Osaka to join its advisory board. Cassius Marsh, Vernon Davis, Peyton and Eli Manning, amongst several others, are NFL stars making waves in the NFT space.
NFT Market Growth
The NFT market as a whole has recorded major growth and has seen an uptick in activity recently. The demand for collectibles continues to surge and the NFT market is showing no signs of slowing down.
According to Coingecko, the NFT tokens market cap at the time of publication was $19.4 billion with a total trading volume of $3.8 billion over the last 24 hours.
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