Use Cases Of NFT, Web3 In The Sports Industry

Digital collectibles, non-fungible tokens (NFTs), and blockchain technology have the potential to transform the sports industry in a number of ways. These technologies offer a range of benefits and advantages that could enhance the fan experience, improve the management and distribution of assets, and create new opportunities for revenue and growth. Some potential use cases of digital collectibles, NFTs, and web3 in the sports industry include:

  • Digital memorabilia (digital collectibles): NFTs and blockchain technology could be used to create and manage digital versions of sports memorabilia, such as autographed jerseys, trading cards, or other collectible items. These digital collectibles could be bought, sold, and traded on online platforms, allowing fans to own and display their favorite sports-related items in a digital format.
  • Enhanced fan engagement: Digital collectibles and NFTs could also be used to create new and engaging experiences for sports fans. For example, NFTs could be used to create virtual meet-and-greet experiences with athletes or to offer exclusive access to virtual events or content. Blockchain technology could also be used to create decentralized communities or forums for fans to connect and interact with each other and with their favorite teams or athletes.
  • Improved asset management: Blockchain technology could be used to manage and track the ownership and rights to sports-related assets, such as player contracts, broadcasting rights, or sponsorship deals. This could help sports organizations efficiently and transparently manage their assets, and it could also create new opportunities for revenue and growth.
  • Enhanced security and authenticity: Digital collectibles and NFTs can be authenticated and verified using blockchain technology, providing a tamper-proof and secure way to prove the ownership and authenticity of these assets. This could be particularly useful in the sports industry, where the authenticity of collectibles and memorabilia is often a concern for fans and collectors.

NFT for digital memorabilia/collectibles

There are a growing number of digital memorabilia and non-fungible token (NFT) projects in the sports industry. These projects are using NFTs and blockchain technology to create and manage digital versions of sports memorabilia, such as autographed jerseys, trading cards, or other collectible items. Some examples of digital memorabilia NFT projects in the sports industry include:

  • NBA Top Shot: NBA Top Shot is a platform that allows fans to buy, sell, and trade digital versions of the best moments from NBA games. These digital collectibles, known as “moments,” are NFTs that are authenticated and verified using blockchain technology, and they can be bought and sold on the NBA Top Shot marketplace.
  • Sorare: Sorare is a fantasy soccer game that uses NFTs to represent digital versions of real-life soccer players. These NFTs can be bought, sold, and traded on the Sorare marketplace, and they can also be used to create and manage virtual soccer teams that compete in online leagues and tournaments.
  • Project Sandlot: Project Sandlot is a platform that allows fans to buy, sell, and trade digital versions of trading cards featuring their favorite athletes and sports teams. These digital collectibles are NFTs that are authenticated and verified using blockchain technology, and they can be bought and sold on the Sandlot marketplace.

Using NFTs as tickets to sports events

Non-fungible tokens (NFTs) can be used as tickets to sports events, allowing fans to securely and digitally access and manage their tickets. NFTs provides a number of benefits and advantages over traditional paper tickets, including enhanced security, improved accessibility, and the ability to offer additional services and experiences. Here are some examples of possible applications of NFT technology for tickets and immersive experiences in sports events:

  • Digital tickets: NFTs could be used to create and manage digital versions of tickets to sports events. These digital tickets could be bought, sold, and transferred using blockchain technology, providing a secure and convenient way for fans to access and manage their tickets.
  • Access control: NFTs could also be used to control and manage access to sports events. For example, NFTs could be used to create unique digital keys that grant access to a specific event or location. These keys could be transferred or sold using blockchain technology, allowing fans to securely and easily share access to events with friends or family members.
  • Enhanced experiences: NFTs could also be used to provide enhanced experiences for fans at sports events. For example, NFTs could be used to create virtual meet-and-greet experiences with athletes or to offer exclusive access to virtual events or content. Blockchain technology could also be used to create decentralized communities or forums for fans to connect and interact with each other and with their favorite teams or athletes. An NFT ticket could also double as digital memorabilia which we have covered above. Such ticket / collectible may be a “rich” NFT including videos, animation, 3D models and scenes, or Augmented Reality (AR) experiences for fans to enjoy during the event or later at home.
  • Secondary market: NFTs could also be used to create a secondary market for sports event tickets. This could allow fans to buy and sell tickets to events using blockchain technology, providing a more efficient and transparent way to trade tickets compared to traditional methods.

Some real-life examples of using NFTs as tickets to sports events – with additional functionalities on top – include:

  • The LA Kings: The LA Kings, a professional ice hockey team, partnered with the cryptocurrency company Blockparty to offer NFT-based tickets to their games. The NFT tickets were securely issued and verified using blockchain technology, and they offered a number of benefits to fans, including the ability to transfer and resell tickets, access exclusive content and experiences, and earn rewards and rewards.
  • The Miami Heat: The Miami Heat, a professional basketball team, partnered with the blockchain platform Ethereum to offer NFT-based tickets to their games. The NFT tickets were authenticated and verified using blockchain technology, and they offered enhanced security and convenience for fans. The Miami Heat also used NFTs to offer exclusive experiences and rewards to fans, such as virtual meet-and-greets with players and access to exclusive content.
  • The Sacramento Kings: The Sacramento Kings, a professional basketball team, partnered with the blockchain platform Dapper Labs to offer NFT-based tickets to their games. The NFT tickets were issued and verified using blockchain technology, and they offered fans a range of benefits, including the ability to transfer and resell tickets, access exclusive content and experiences, and earn rewards and rewards.
  • The Brooklyn Nets: The Brooklyn Nets, a professional basketball team, partnered with the blockchain platform TokenView to offer NFT-based tickets to their games.

Second-screen apps powered by web3 in the sports

Second-screen apps are software applications that allow users to access and interact with digital content on a mobile or tablet device while watching television or other forms of video. These apps typically provide a range of features and capabilities, including the ability to view and share social media updates, access related content or information, or participate in interactive experiences or games.

In the sports industry, second-screen apps could be used to enhance the fan experience by providing additional content and interactive features related to living sports events. Some potential use cases of second-screen apps in the sports industry include:

  • Social media: Second-screen apps could be used to provide live updates and commentary from social media platforms, such as Twitter or Facebook, during sports events. This could allow fans to see what other fans and experts are saying about the event, and to join in the conversation themselves.
  • Statistics and analysis: Second-screen apps could also be used to provide real-time statistics and analysis of sports events. For example, apps could display live scores, player statistics, or other relevant data, providing fans with additional information and context during the event.
  • Interactive experiences: Second-screen apps could also be used to create interactive experiences for fans during sports events. For example, apps could offer trivia games, polls, or other engaging features that allow fans to participate and interact with each other and with the event.
  • Commercials and advertising: Second-screen apps could also be used to deliver commercials and other forms of advertising during sports events. For example, apps could display targeted ads or offers based on the user’s location, interests, or other factors, providing additional revenue opportunities for sports organizations and broadcasters.

There are a growing number of second-screen apps that use web3 or blockchain technology. These apps leverage the benefits of blockchain and tokenization to provide enhanced features and capabilities for sports fans, such as secure and transparent record keeping, improved data sharing and interoperability and enhanced privacy and security. Some examples of second-screen apps that use web3 or blockchain technology include FanChain (a second-screen app that uses blockchain technology to create a decentralized marketplace for sports-related digital assets, such as NFTs, digital collectibles, and fan tokens) as well as NFT-focused applications we have mentioned above such as Sorare and Sandlot. These apps allow fans to buy, sell, and trade these assets, and it also offers a range of interactive features and social features for fans to connect and engage with each other and with their favorite teams and athletes.

Another important aspect of second-screen apps we should discuss in better detail is messaging and social connectivity.

Using chat & messaging web3 in the sports apps

Chat and messaging technology are important in sports apps as they allow fans to connect when watching sports from home. Social and second-screen apps that support group chats or social network mechanics allow fans to communicate and connect with each other, share information and updates, and access a range of digital content and services related to sports events.

The advantages for fans/users are:

  • Real-time communication: allows sports fans to communicate and connect with each other in real time, providing a more immediate and engaging way to share information and updates about sports events. This can create a sense of community and connection among fans, and it can also allow fans to share their reactions and opinions about events as they happen.
  • Access to scores, stats, and analysis: live scores, stats, and analysis of games as well as digital memorabilia (NFT “drops”) can be offered right in the chat rooms increasing the fans’ engagement. This can be handled by specialized chatbots.
  • Enhanced engagement and interaction: apps could offer trivia games, polls, or other interactive features that allow fans to participate and engage with each other and with the event or their favorite team/club or athlete. This can provide a more engaging and immersive experience for fans, and it can also create new opportunities for revenue and growth for sports organizations. Similar to the above, poll, quiz, and raffle bots can handle these interactions.
  • Improved accessibility and convenience: thanks to messaging and push notifications technologies, fans can stay up-to-date and informed even if they are unable to attend the event in person. They can also query chatbots using a human language conversational interface or engage with other fans to find out the results of the games and learn about the best moments.

The advantages for organizers and sports teams are:

  • Better engagement and value generated for fans
  • Wider and longer engagement (access 24/7 worldwide, beyond event dates and geography), increased stickiness
  • Great analytical insights thanks to usage and demography data provided by the mobile apps usage
  • New revenue streams thanks to NFT and token economy monetization as well as additional advertising opportunities via new media
  • Web2 and web3 mechanics multiplying the effects of your brand through crowd-sourced content generation (web2) and p2p / secondary market economy generation (web3)

Conclusion

As we can see from our examples, web3-powered sports applications typically focus on one or more of the following directions:

  • digital tickets for sports events
  • NFT digital memorabilia, collectibles marketplace
  • second screen app experience
  • messaging and communication for fans

The Dappros team has worked on multiple successful web3 sports app projects and we will be happy to consult you on how to leverage these technologies in your project.

We also suggest you check out our Ethora product that allows your fan base to communicate, collect and trade NFT collectibles in group chats. We offer a default branding package where your team, club, or athlete will have their own branded app and NFT marketplace available on iOS, Android, and Web in no time.