Sports NFTs Kick Sports Memorabilia Into The Digital Age

The NFT was the result of a hackathon event. Kevin McCoy, a digital artist, created the first known NFT "Quantum" there. NFT gained attention in 2018-2019 and then it became one of the trending blockchain applications.

NFTs are upgrading almost all the sectors and sport is no different. Sports NFT is one of the fastest-growing NFT sectors and it is expected to grow at a double pace in 2022. Deloitte Global expects NFTs for sports media to generate over $2 billion in transactions in 2022, almost double what we saw in 2021.

By the end of 2022, multiple online sources expect 4-5 million sports fans globally to have bought or gifted an NFT Sports collectable. Activity in the broader NFT market, including digital arts, is expected to fuel interest in sports NFTs, with the top five most valuable sales totalling over US$100 million as of August 2021.

NFTs are creating new revenue streams

Arts, entertainment, sports and gaming are some of the sectors that have seen significant benefit through it. However, NFTs are creating new revenue streams in almost every sector. Users can sell any digital thing online and they can make huge money. In sports, users can sell digital things like signatures, avatars, photographs, cards and videos as well.  

Sport NFTs are the digital equivalent of printed sports trading cards, which sold for millions of dollars in 2021 and have long been a major revenue source for teams and leagues, especially in the US market.

However, NFTs also provide some more options to earn money in the sports field. There are a few platforms that allow users to even bet or trade on live games and Fantasy sports. NFTs are especially useful in Fantasy sports games. These revenue options are also attracting more and more users in the world of NFTs. 

These revenue streams are also the reason that this sector is growing at a rapid pace, and new business ideas and marketplaces are getting introduced on a regular basis. If you are looking for platforms to seize all the opportunities then Doxy is here for you. More details about it are provided below.

Seize All Opportunities With Doxy

Doxy Exchange is live and fantasy sports platform developed on blockchain technology in the Doxy ecosystem. It verifies the franchisees, active players and owners of all assets in all respects to the smallest, and allows them to perform and trade on activities. This platform is a perfect example of harnessing the reach and power of sport and NFTs.

Doxy is a blockchain-based platform that provides more earning opportunities to the user. The project has Doxy Finance, Doxy Exchange, and Doxy tokens properly blended with the mechanism this industry needs. This project allows users to buy and sell NFTs and trade-in sports. Users can also easily invest and withdraw funds from the platform. Doxy is revolutionizing the fantasy sports market. Join us and take a part in it.