The rise in the sports NFTs market
Sales of sports NFTs are poised to grow even larger, because individual pro and college athletes are launching their own collectibles, separate from what teams or leagues are doing.
For athletes, it’s a new way to earn money. For sports fans, it’s “a new asset class for investors to get involved in,”
The value of the broader NFT market is forecast to grow to $75 billion by 2025, from about $14 billion today, with much of the growth driven by the boom in sports NFT products, investment bank Jefferies said in a recent research note.
How NFTs are changing sports cards investing
Sports cards have always been a longtime favorite among collectibles with baseball cards, in particular, being the most sought after. Although traditional card collecting remains a popular hobby for many, collectors and investors alike are now turning their heads towards NFT sports cards. Traditional card manufactures are not falling behind either with companies such as PANINI taking advantage of the technology and selling NFTs cards on their website.
Some benefits of Nft sport cards over traditional sports cards
- More features and possibilities. Your favorite sports cards can incorporate animation, music, autographs, or even the voice-in-off of the athlete. Also, companies may do special challenges and promotions where holders of certain cards may receive extra bonus cards or packs. All of this can be done while your cards remain unique and traceable to you, the owner.
- Easy to purchase. Setting up a crypto wallet is easy. Once it is done, it is easy to connect your wallet to an NFT platform and buy NFTs with a few clicks of the mouse.
- No defects. Traditional cards may have defects that affect the value of the card. card grading services will rate the cards from 1 to 10. Usually, anything less than a 10 diminishes the value of the card.
- Less risk of fraudulent cards. NFTs sports cards can be verified on a public record AKA the blockchain.
- Traceable history. It is possible to know the previous owners and prices at which the cards have traded. This is valuable information for both investors and collectors and makes everything more transparent.
- No shipping costs. There is no need to pay buying costs from buying, selling, or sending cards to a grading service.
- The true number of all cards. It is possible to know the total number of copies made and is verifiable.