How Are NFTs Impacting the Sports Industry? | Binance Blog

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NFT adoption is on the rise, with multiple industries exploring options in the space. Here’s how NFTs are changing the world of sport.

Sports NFTs give loyal fans new and exciting ways to support their favorite teams, while sports organizations can benefit from a new revenue stream by issuing digital collectibles.

Non-fungible tokens have seen substantial growth in the last few years, revolutionizing various industries like arts, gaming, music, and sports. Billions of sports enthusiasts worldwide have been introduced to multiple NFT use cases. How exactly do these digital tokens change the sports world?are a type of digital assets that run on a blockchain and are often referred to as crypto collectibles.

Some sports team would issue fan tokens in addition to NFTs, to give holders special club perks, from getting players’ autographs and limited-edition jerseys, to exclusive discounts on game tickets. For example, in 2021, FC Porto partnered withIn some cases, NFTs are used in online sports gaming like fantasy sports. Sorare, for instance, is a popular fantasy football game that incorporates NFTs into the gameplay.

 

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