Non-fungible tokens (NFTs) have quickly gained popularity in the last year as a way to increase fan engagement towards sports events and players. High-profile teams and organisations in different countries are following the trend by creating their digital collectibles and offering fans a more personalized experience.
The British professional boxer Tyson Fury, sold the NFT featuring himself Lineal by Tyson Fury for nearly US$1 million at auction. Many other players and teams are following suit.
"Lineal by Tyson Fury" $244,000 BID RECEIVED 💥— HoDooi.com (@hodooicom) July 15, 2021
"Lineal by Tyson Fury" bidding at $244,000 USDT, one of the highest bidding #NFTs in sporting history 🚀
Collectibles available in Diamond, Platinum, Gold, Silver and Bronze 🖼
Payment: BNB/USDT ✅
Link: https://t.co/nJk8FKOQKp pic.twitter.com/M506UnmS4M
Additionally, JASMY will use the original blockchain technology to help the Sagan Tosu team to issue the world’s first NFT fan token in the field of football. The issuance of fan tokens will be a creative fusion of JASMY blockchain technology and the IP owned by the football team.
The applications of blockchain technology are quickly reaching different fields, not only sports.
Also, musicians are looking at NFT with interest as a way to change how the music industry operates. It would reduce the huge cut of earnings that goes to agents, lawyers, and studio executives, shifting the power back to the artists and increasing their earnings.
The same Jasmy uses blockchain as a way to secure user data, giving people the power to sell their personal preferences if they want to, and protect companies from information leakage.
In a world of constant change, being flexible and innovative is rewarding the trendsetters. Blockchain technology is now the future and NFT is a new form of memorabilia with several potential applications as it is unique, safely stored and cannot be forged.