Professional leagues like the NBA and teams such as the
NFTs (which stands for non-fungible token) are digital assets that are authenticated with blockchain technology, the same technology that underpins cryptocurrencies, such as bitcoin.
"Instead of securing its value, a bank authenticates on 'blockchain,' which is a global notary. The difference with a cryptocurrency is that it cannot be divided, and the comparison with a collectible makes sense, but you can 'tokenize' anything,"
Through this technology, various companies or competitions link these digital assets to a physical or digital object, such as a replay of a memorable play or a card from a sports game, which can be bought and sold because the asset always maintains that digital stamp of authenticity.
The NBA, for example, agreed with one of the pioneering companies in this sector,
Another option is to tie these digital assets to a physical object, as the
French company Sorare has linked this technology to its 'fantasy'-style soccer game, which awards points based on players' performances in national and European competitions.
"For centuries we've been collecting real things, and now (thanks to NFTs) we can do it on the web. We wanted to bring soccer fans into that, and not just have them collect, but play with them," the company's CEO,
135 top clubs such as
Not only can fans treat the cards like collectibles, they can trade them and obtain prizes, such as meeting with their idols, which triggers a secondary market for the cards that can fetch up to
"When I was a kid, I used to collect trading cards, but this version is much better; you can look at it as a collectible, but you also play with the cards and get rewards. Plus, you can easily sell them to anyone in the world instantly. Personally, I would never buy a Picasso, but I was very happy to invest
The game, which has more than 130,000 monthly users, has won over players such as Griezmann, Piqué, former English footballer
For the clubs, the technology represents a new revenue stream. "It's a new asset for the clubs. We charge an amount from Panini for the license of the cards, but if instead of having hundreds of thousands there is only one, or a few, it is exclusively taken to digital", the director of Business Development of Levante,
"For clubs it is a great opportunity. They have traceability of what happens with each card, they receive an amount on each transaction, and it's a new source of revenue," says Sorare CEO
"A few years ago they were scared, now they want it to move forward. They see it's more revenue and that it allows them to take their brand to new markets," he adds. EFE
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