In the PwC report, it is estimated that by 2030, the total value of sports collectibles will reach $40 billion. In addition to a potential increase in revenue for sport organizations and regulators, there are also benefits for athletes such as increased popularity and new ways to monetize their skills.

The “nft sports” is a report from PwC that forecasts the promising future for sports NFTs. The report predicts that the market will be worth $5 billion by 2023.

PwC Report Forecasts Promising Future for Sports NFTs

PwC highlighted NFTs as one of the ten significant developments in the sports sector during the previous year in its 2022 Sports Outlook report for North America. In order to properly use the digital asset within sports entertainment, the research listed three major areas in which it has (or may) grow. 

The first is ‘Collectible NFTs,’ which are currently abundant in the sports business owing to brands such as NBA Top Shot, Autograph, and Sorare. In essence, PwC sees these collecting artifacts, whether they’re in the shape of a player’s trading card, a ticket stub from a memorable match, or any other kind of legitimate material, as something that will become more common throughout the metaverse as Web3 progresses. 

The usage of Season Ticket Member (STM) NFTs is the second area that PwC has identified. STM NFTs are a digital alternative to a traditional season ticket that allows holders to enhance their fan experience even more by providing augmented functions such as access to stadium experiences, the issuing of special edition NFTs for specific games that holders will attend, or any other creative avenue of additional content.

PwC’s third and last option is NFTs, which act as ‘Virtual Access Tokens’ (VAT). VATs would theoretically have a large demand base, whether from overseas fans who would never be able to attend in-person matches/events, or just from those who prefer a virtual experience.

A VAT, like STM NFTs, may have a variety of innovative (but virtual) rewards, but it could also provide holders access to behind-the-scenes activity, such as player cams, bench cameras, or even virtual locker-room access. Manchester City and PSG have both experimented with VAT-like assets, allowing their fan token systems to make non-critical match day choices such as which ‘walk out’ should be employed.

Overall, although PwC acknowledges that ticket sales, broadcast rights, and sponsorship agreements remain the primary income streams for professional sports organizations for the time being, business forecasters predict NFTs to become a substantial revenue source in the future via the pathways listed above. It’s an exciting moment for NFT fans who are also sports fans.

 

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