Top 10 Sport NFT Collections

TL;DR

- Sport NFTs could be a piece of artwork depicting a player's image, a tokenized trading card, sports video clips, or any other type of digital collectible with its holder's ownership rights recorded on the blockchain.

- Most Sport NFT collections have their marketplaces, unlike others which are often found on secondary markets like OpenSea and Magic Eden.

- Types of sports NFTs include fan tokens, metaverse games, sports NFTS, trading cards, and sports video clips.

- The leading sport NFTs are NBA Top Shot, MLB Champion, Sorare, NFL All Day, Toque Squad, DeChambeau, DeRace, WNBA, Socios, and The Association.





Introduction

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The global sports industry was valued at more than $500 billion in 2022, and the expanding market has now adopted sports NFTs. In sports, an NFT could be a piece of artwork depicting a player's image, a tokenized trading card, sports video clips, or any other type of digital collectible with its holder's ownership rights recorded on the blockchain. While the world and the art world are already stunned by NFTs, the sports industry has also taken off. Many of the biggest names in sports, from football to basketball to baseball, have already experimented with and gotten their hands dirty in the game of NFTs. Many of the resultant projects have had enormous success.



What is Sport NFTs?

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NFTs are Crypto tokens that function similarly to Digital Ownership certificates for Digital Assets. They can be original artwork, trading cards, collectibles, or even Twitter Tweets, Music, and Videos. NFTs are no less than a Crypto Token, but what sets them apart from the rest is their non-fungibility. It means that, unlike other Crypto Tokens, they cannot be exchanged, replaced, or replicated. As a result, NFTs are now used as digital certificates that verify a digital asset's ownership to prove its authenticity.

Sport NFTs can be anything related to sports and blockchain technology, such as collectibles, fan tokens, sports metaverse games, and trading cards. Many NFT sports are officially licensed by major sports leagues such as the NFL or NBA.

Because NFTs are programmable, they can be preprogrammed to provide fans with additional perks, increasing fan support and enthusiasm among teams.
While many NFT collections can be found on secondary markets like OpenSea and Magic Eden, most sports NFT projects have marketplaces. NBA Top Shots and Sorare are examples of Sport NFT marketplaces.


Types of Sport NFTs

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The types of sport NFTs include:

Fan token
Although not technically NFTs, fan tokens are frequently associated with NFT sports projects due to the level of interaction they provide fans.

Fan tokens, created by platforms such as Socios.com, can be purchased for a variety of teams around the world, such as Manchester City, A.C Milan, and Juventus.

The fan tokens allow fans to vote on internal team processes such as designing a new training kit or selecting the team's playlist before a game. The more tokens a user possesses, the more voting rights they have.

Metaverse games Sport NFTs
Regarding sports metaverse games, NFTs are supposed to bring fans closer to the action. Game designers can provide a level of gameplay not possible with traditional computer games by leveraging NFTs and the blockchain.

F1 Delta Time, a Formula 1 racing game, allows players to compete on F1 race tracks worldwide. Every car in the game, however, is purchased as an NFT. The addition of NFTs adds new complexity to an otherwise straightforward racing game.

In-game purchases are used for more than just cars. Players can swap out drivers, front wings, power units, rear wings, and tires, all represented by NFTs.

Trading Cards
Trading cards are not a novelty in the sports world. However, trading cards are now transitioning from the physical to the digital realm.

Digital trading cards, like physical trading cards, depict various sporting characters. They are easily stored and transferred on the blockchain as an NFT. It means exchanges and trades with anyone, regardless of location, can be completed in seconds.

Sports Video Clips
Sports highlight video clips are widely used in the sport NFT industry. NBA Top Shot specializes in selling player highlight reels with the tagline "Rare NFTs of the NBA's best moments." Many of these highlight clips feature memorable plays.


Top 10 Sport NFT Collections

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Having set this background, let's now look at the top 10 sport NFTs.

NBA Top Shot
NBA Top Shot sport NFT collection includes a variety of highlight video clips from high-level basketball games. Some of these NFTs are worth tens of thousands of dollars. The collection, considered the gold standard of sport NFT, is a monstrously successful project created by Dapper Labs in partnership with the National Basketball League (NBA). NBA Top Shot also serves as a sports NFT marketplace that combines a collecting experience similar to traditional sports trading cards with the blockchain tech used in other NFT platforms.

MLB Champion
MLB Champions debuted in 2018 as an NFT platform and an actual game. Even though the game ended in 2020, the minted MLB Champions NFTs are now traded on secondary markets.
The avatars are small bobblehead figures in various poses with a current floor price of 0.00692 ETH ($9.17 at the time of writing). There are 249,111 MLB Champions NFTs in total. At present, 2,815 owners have at least one MLB Champions NTF in their possession.

Aaron Judge was the most expensive MLB Champions NFT sold. It was sold for $1.1k On September 29th, 2022.

Sorare
Sorare is also one of the leading NFT collections concentrating on international football (soccer) leagues and basketball and baseball. There are 215 officially licensed clubs from all over the world on Sorare. Fans can purchase trading cards on the platform from players worldwide and use them to manage virtual teams. The sorare community expanded into other sports this year. Although it began as a soccer NFT project, it partnered with the MBL and NBA to launch NFTs and games for baseball and basketball fans.

NFL All Day
NFL is an epic way to celebrate and display your NFL fandom with Digital Video NFTs ("Moments") featuring some of the best plays in football history. More like the NBA Top Shot of American football, NFL All Day tries to create the same buzz with each new collection.

Although the prices aren't as high as in NBA Top Shot, and the players aren't as well-known internationally, it connects the sports community with Web 3. The greatest NFL moments have been officially licensed, and fans can keep and trade them as they please.

Torque Squad NFTs
Torque Squad is an Animoca Brands collection of 8,888 racing avatars that serve as the gateway to the Motorverse ecosystem. The 'Torqies' provide utility in various areas in both the real and virtual worlds.' Holders have access to exclusive events, streetwear, games, and future drop, among other things. Torque Squad NFT currently has a floor price of 0.038 ETH - $64.28. Torque Squad has 850 owners and a total sales volume of 52.8 ETH - $89,321.11.

DeChambeau's NFTs
Bryson DeChambeau is the pioneer professional golfer to launch his official limited edition NFTs. DeChambeau's NFTs feature five distinct versions of digital trading cards. The Distance card comes with a meet-and-greet with DeChambeau at a golf event, a personally autographed US Open flag, a custom set of Cobra golf clubs, a $1,000 Bose gift card, and six dozen Bridgestone balls is limited to one per person. The most valuable NFT in this collection was auctioned off in March 2021 for 24,15 ETH ($38,036.25 at the time).

WNBA Top Shot
WNBA Top Shot is the women's league version of NBA Top Shot. The first offering of WNBA NFTs included moments from women's basketball legends such as Diana Taurasi, Sue Bird, Candace Parker, and Breanna Stewart, among others.

DeRace NFTs
DeRace is a platform that brings together millions of racehorse fans in a community where you can buy and breed NTF horses. DeRace Horses (DRCHRS) price floor at the time of this writing is $82.09, with a 24-hour sales volume of 0.55 ETH. There are a total of 6206 NFTs minted, held by 1630 owners, with a market cap of $509,427.44. The platform, partnered with Animoca Brands, Binance, and Chainlink, has its currency, DERC. Players can compete in races using the NFTs they have purchased.

Socios NFTs
Socios broke new ground by going beyond their standard fan token release and launching their first group of Fan NFTs on October 31st last year. Before a match against AS Roma, the company launched the fan NFTs in collaboration with the top Italian football club AC Milan. Socios and its parent company, Chilliz, have formed alliances with major sports teams and leagues worldwide.

The Association NFTS
The Association Series is a set of 30,000 non-fungible token trading cards. They include 125 different variations of players from this year's 16 NBA Playoff roster teams. So, 125 NFTs for every 240 players on the roster.


Conclusion

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Most sports NFTs are still currently undervalued. However, the more valuable an NFT, the more likely it is to be valued. A crucial factor in this regard is a sport's ownership history and authenticity. While rarity could be said to be the most critical factor in determining the value and desirability of an NFT, fan sentiment is another essential factor to consider when valuing sports NFTs. An NFT may be rare; yet, if it symbolizes something or someone who has fallen out of favor with fans, its value will likely fall as well.






Author: Gate.io Observer: M. Olatunji
* This article represents only the views of the observers and does not constitute any investment suggestions.
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