The non-fungible token market, along with decentralized finance, is without a doubt the most talked about and fastest-developing segment of cryptocurrency in the last year.
NFTs are being adopted by celebrities, artists, musicians, brands, large companies, large organisations, and everyone in between. The connection between digital collections, sports, and the industry has also grown tremendously, resulting in NFT sales by legends such as Shaquille O’Neal, Tyson Fury and Lionel Messi.
Verified Market Research data shows that the global sports trading card market was just below $14 billion in 2019. The market could reach $100 billion by 2027 according to forecasts. However, it is dominated by mainstream sports like baseball, basketball and association football.
It’s no surprise, therefore, that many platforms in the NFT space specialize in digital collections for sports enthusiasts. EX Sport is a platform that allows sports fans to trade, buy, sell and engage with collectibles.
Take a look at EX Sports
EX Sports was founded three years ago and is an NFT platform that uses the Ethereum blockchain. It aims to bridge the gap between high-earning, well-known sports and those considered underdog.
The above leagues, like the NFL, NBA and MLB, offer significantly more money for athletes than other sports such as muay Thai, powerlifting and arm wrestling. The second group has many dedicated fans who are passionate about supporting their idols.
EX Sports aims to promote connections between athletes and fans from less-known sports. EX Sports aims to achieve this by creating a new revenue stream.
The platform allows athletes and other professionals in the sport, including coaches, celebrities ambassadors and key participants, to issue up 1,000 non-fungible tokens each year. Only a specific percentage of tokens will be kept in the possession of the issuing party. The remaining supply can be sold for EXS, EX Sports’ native cryptocurrency that allows you to buy and sell digital card packs on the market.
These sportspeople can launch their own digital collectibles that are personalized for them. This will allow them to build their brand, increase their income and strengthen their relationships with their fans.
EX Sports believes that sport federations and other organizations can reap the benefits of the NFT mania by engaging more with their fans and establishing stronger connections with the community.
This video was provided by EX Sports
Collectors Get Benefits
EX Sports promises many features to users who use its platform. They will be able sell and trade digital collectibles to other users from around the world. The buyer can purchase a booster card to complete their collection after they have purchased a set.
EX Sports will offer a feature similar to early-stage startup investing that allows fans to support their favorite athletes at an early stage of their careers. They can also make donations through EX Sports’ charity partners, United Through Sport.
This project also seeks to combat one of the biggest issues in NFT space, frauds and deceptions. It will make it possible to mint new collectibles cryptographically signed. This would increase its reliability and authenticity.
The integrated wallet will allow fans to store their collectibles, making it easier and safer. Each wallet will display as a personal album, organized by category. Information about introductory offers, promotions and new arrivals will be displayed on the home screen.
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