Sports + NFT Sponsorships = A New Era
NFT sponsorships open organizations and athletes up to a vast poll of new of revenue opportunities that didn't previously exist. Should you expect some exciting news regarding Sponsorship plus NFT collaboration from JRZY in the future? Absolutely.
NFTs allow us to now engage and control digital assets like never before.
By placing a limit on how many copies are created for any specific digital asset, NFTs have established how we can now have real ownership over digital assets while also merging authenticity with and digital scarcity.
Fans can now purchase and sell a limited selection of collectibles, such as songs, artwork, and video clips. As usual, the sports industry has been impacted by this, with Dapper Labs being the first to announce their entry into the space with NBA Top Shot.
NBA top shots partnered with the NBPA and NBA to develop a marketplace where they could sell game-related moments as digital collectibles. There is a serial number and a limited supply for each Moments item sold as NFTs. Due to this, a fan will be able to purchase and own a specific NBA game moment. The beta version of these moment cards brought in $230 million at a price of $9.
Sorare, a blockchain-based fantasy sports game company, and MLB have a deal to release a game based on the competition this summer. Where players can collect NFTs that represent players in the league and use them to play against other players. Players can purchase an entire team to take on other players in the fantasy game competitions.
This will increase MLB's revenue while also providing them with a new way to connect with their fans around the world through a platform that has about 1.7 million users registered in 184 countries.
MLB commissioner Robert Manfred said Sorare understands the importance of the bond they build with their fans. According to him
“The company’s focus on transforming fandom through an innovative combination of sports, technology and gaming to let fans truly own a piece of the game they love is unique and goes beyond borders – allowing us to bring the love of baseball to more fans across the globe.”
Binance announced an exclusive, multi-year NFT partnership with Cristiano Ronaldo in June of this year, in which Binance will launch a global campaign to reach Ronaldo's fans and introduce them to Web3 through fan NFTs.
These types of sponsorship agreements are crucial because they give you access to resources that otherwise may not be available to you, such as the Ronaldo Binance partnership.
Additionally, it allows the agency to handle the work while you concentrate on being an athlete. By using JRZY, all the strategy is handled for you; all you need to do is interact with your fans.
This type of partnership saves you the expense of hiring a large marketing staff to sell your NFTs.
According to the 2022 global sports marketing report, blockchain and NFT sports sponsorship investment will increase by a massive 778% compared to 2021.
We understand the importance of NFTs and sponsorship and how they can benefit athletes which is why we are exclusively into it.
In an official statement released by Issa Hall, the CEO of JRZY, "We've created an experience for athletes that includes both NFTs and sponsorship".
On whether we should expect NFT sponsorship from JRZY soon, he said " Since we're already positioned to expand here we just have to ask ourselves if this is something that athletes want. Our research has shown overwhelmingly positive responses when it comes to activations that support increased income and opportunity. This is an application of NFT utility that is in demand and a perfect collaboration that extends to the real world. Should you expect some exciting news regarding Sponsorship plus NFT collaboration from JRZY in the future? Absolutely."
This is exciting news for our athletes because this type of partnership basically opens athletes up to a lot of revenue creation opportunities within the NFT market.
According to Jefferies analysts, the NFT market cap will reach a high of $35 billion in 2022 and will exceed $80 billion by 2025.
Fortunately, sports have not been left behind in this race, as NFT sports collectibles have demonstrated success so far, with Sorare NFT fantasy football cards recently being listed among the top 100 NFTs by market cap and JRZY launching an NFT collectible marketplace in the very near future.
The NFT market is lucrative right now, and landing sponsorship deals on it will do wonders for new revenue generation opportunities.