NFT has become that broad digital hub of opportunities not only for art but for sport as well. Football is almost a religion across the world and big clubs from across the world have begun to embrace NFT for football fantasy cards.
Remember non-fungible tokens are all in all digital, which is certified under the respective owner. Trading cards are influenced and backed up by blockchain technology. Not only are they unique but can not be exchanged like for like.
It's a different scenario altogether as compared to how bitcoin and other prominent cryptocurrency coins operate. La Liga, the pride of Spanish football has joined hands with French start-up Sorare to establish NFTs under its banner.
The Sorare site is very good when it comes to trading digital player cards. Teams are managed easily under the platform making fantasy football amazing. According to Sorare, in their official statement, the joint contract with La Liga is a long-term contract which will see prolific players like Vinicius Junior of Real Madrid and the young talented Pedri from Fc Barcelona featuring.
Nicolas Julia, Chief Executive Officer of Sorare indicated that this initiative is a stepping stone and a much bigger milestone. There are so many expectations and exclusivity engulfed in the joint contract.
For La Liga clubs, royalties will be on offer. Sorare has also successfully paid-up minimum guarantees that will ensure huge exclusivity. It's an exciting move for clubs across the world to embrace cryptocurrency. It's not one football team but basketball has been on the forefront gaining a lot from the crypto world.
Spanish Basketball National team has also obtained licenses on game highlights in case of collectibles. All these offers will be displayed on a broad platform called NBA Top Shot. NBA Top Shot is backed up by blockchain, motivated under Dapper Labs.
Manchester City Fc has also been at the forefront of NFT operation. They have successfully launched two NFT collections. May clubs across EPL, Serie A, Ligue 1, and Bundesliga have taken part in fan tokens that grant users with governing and voting rights on small club decisions.
When you vote right you get perks, which are meaningful and exciting. Enormous fan tokens were reviewed when Lionel Messi made his move to Paris Saint Germain. Socio. com was the major influencer behind this biggest cryptocurrency move.
Prospective and seasoned NFT users should understand that NFT is growing big each and every quarter. Beeple’s $70 million gain in March 2021 is a clear sign that NFT is booming.
Recently Visa managed to come up with a collectible collection under the banner CryptoPunk which was valued at $150,000 in ETH valuations. Verified scarcity has been the way to go because NFTs are still rare and largely valued. However, there has been so much speculation from critics like Graffam who have been posing fraud and scam possibilities. Fake Banksy collectible has victimized a lot of NFT users which is a disadvantage really.
