Cryptocurrency has become more than a mainstream thing in recent years, as the traction that it has experienced over the last decade or so has become a global phenomenon and one that much of the world has become engrossed with.
Indeed, whether it be individuals as a collective or entire industries, it would seem that the digital asset is clearly here to stay and is only likely to grow further in the near future. Let’s take the recent news about the NFL’s decision to take a step into the world of NFTs.
The NBA had recently launched the NBA Top Shot NFT as an introduction in the world of sports that would allow sports fans to get involved, but it now appears that one of America’s favorite pastimes is prepared to take an active role, as well.
In September, news had been announced that the NFL had signed up with Dapper Labs, the company behind Top Shot, in a partnership that would see the pair work together. News recently, though, has broken that provides everyone with the name of the service that will be distributing the video highlight clips known as “Moments” as NFTs: NFL All Day.
Indeed, with the likes of the Tampa Bay Buccaneers, the Kansas City Chiefs, the Green Bay Packers and the New England Patriots all being favored to be the potential winner of this year’s Super Bowl competition according to the odds provided by Unibet IA, many will likely want to be the owner of the NFTs that are made available which feature the winning team.
What is an NFT, though?
We have mentioned a lot about NFTs in this article already, but appreciate that this might not be a concept that is all that familiar with some readers, which is why it is best that we define what they are and how they can be used.
Firstly, an NFT stands for non-fungible token and these allow people to buy and sell the ownership of unique digital items to somebody else, whilst also keeping track of the actual owner of the original item via the use of blockchain technology. An NFT can be a variety of different things, with it containing literally anything that is digital. This means drawings, animated GIFs, songs or even items in a video game can be turned into an NFT, which can then be sold.
Additionally, an NFT can either be one-of-a-kind, such as a physical piece of artwork like an original painting, or it can be one copy of something that has been copied by the masses, including items such as trading cards. The blockchain technology that it uses, though, will be able to keep track of who actually owns the digital property.
The term “NFT” has certainly made waves over the course of 2021, with it featuring as one of the buzzwords of the year, and was even named word of the year by the Collins Dictionary recently. It has also been in the news recently because a number of items have been able to sell for millions with a number of high-profile memes having been put up for auction.
What is NFL All Day?
Getting back to the news that the NFL is now looking to take a leap into the NFT market with the introduction, it should be known that this venture is different and separate from the one that the NFL is conducting with Ticketmaster. This one has seen the league target selected games over the course of the season.
However, the NFL All Day NFT will look to use the Dapper Labs Flow blockchain as the NBA’s Top Shot did, with the trading and showcasing of each of the “Moments” all taking place on the All Day platform.
Is there a future for these?
Although the NFL All Day NFT are not ready to be launched just yet, it would seem that there is a possibility that there is an audience for them. Of course, the sport is one of the biggest in the entire United States, whilst it also has significant appeal across various countries in Europe, with the United Kingdom and Germany being known to have large fanbases.
However, there will still be a lack of clarity about what holders will be able to do with them, as a number of features are yet to be launched that detail what can be accomplished with these collectables or whether the marketplace in which they will be made available will be able to maintain a level of popularity.
CryptoMode produces high quality content for cryptocurrency companies. We have provided brand exposure for dozens of companies to date, and you can be one of them. All of our clients appreciate our value/pricing ratio. Contact us if you have any questions: [email protected] None of the information on this website is investment or financial advice. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. No reviews should be taken at face value, always conduct your research before making financial commitments.