• The NFL is set to embrace blockchain technology

  • The sporting world and cryptocurrency industry are becoming increasingly inextricably linked as more sports organizations investigate ways to incorporate blockchain and crypto-related products.

    According to a recent job posting, the National Football League (NFL) is interested in exploring blockchain technology. The NFL announced a job opening for a director of emerging products on its official website.

    According to the job postings, the NFL was looking for someone to focus on digital products. According to the post, the football league is looking to get more involved with blockchain, non-fungible tokens (NFTs), and cryptocurrency.

    Similarly, Sports Business Journal previously reported that NFL Chief Media and Business Officer Brian Rolapp had sent a notice to teams disclosing that the NFL was investigating blockchain for ticketing and collectibles. If it is eventually implemented, it is worth noting that the move will increase the mainstream adoption of blockchain and digital assets.

    With an estimated $16 billion in pre-pandemic revenue and a massive fanbase, the NFL is the world’s most profitable league. Despite a recent decline in ratings, its annual Super Bowl event drew 98.2 million viewers in 2019.

    Notably, the National Basketball Association (NBA) has launched NBA Top Shot ahead of other leagues. Top Shot connects NBA fans to NFTs while also providing a new source of revenue for sports leagues, teams, and players.

    However, some experts believe that the NFL decision could lead to the inclusion of other American leagues (NHL and MLB).

    NFL players are already championing blockchain and cryptocurrency.

    Meanwhile, while the NFL takes its time releasing blockchain-related products, many NFL players have expressed their support for it. Various NFL stars have lobbied the league in various ways to support blockchain and digital currency.

    Russell Okung, a Carolina Panthers player and the NFL Players Association’s vice president, has been campaigning for cryptocurrency support. Okung converted his salary to Bitcoin in 2020, making him the first NFL player to be paid in cryptocurrency.

    Matt Barkley, the Buffalo Bills’ 2019 quarterback, revealed that he tried to get his previous teams, the San Francisco 49ers and the Cincinnati Bengals, to pay him in Bitcoin.

    Rob Gronkowski, tight end for the Tampa Bay Buccaneers, has also launched his non-fungible token (NFT) collection. He reportedly sold more than $1.6 million in digital trading cards of himself. Patrick Mahomes, the quarterback of the Kansas City Chiefs, also auctioned off more than $3.7 million in cryptocurrency artwork.

    Tom Brady, the quarterback for the Tampa Bay Buccaneers, has jumped ahead of the competition with the launch of an NFT platform dubbed ‘Autograph.’ To launch the initiative, the seven-time Super Bowl champion signed a deal with entertainment company Lionsgate and betting platform DraftKings.

    In addition, Tiger Woods, Wayne Gretzky, and Naomi Osaka have joined Autograph’s advisory board. Several NFL stars, including Cassius Marsh, Vernon Davis, Peyton, and Eli Manning, are making waves in the NFT space.

    NFT Market Expansion

    The NFT market as a whole has seen significant growth and an increase in activity recently. The demand for collectibles remains high, and the NFT market shows no signs of slowing.

    According to Coingecko, the NFT tokens market cap was $19.4 billion at the time of publication, with a total trading volume of $3.8 billion over the previous 24 hours.

    What's your reaction?
    Happy0
    Lol0
    Wow0
    Wtf0
    Sad0
    Angry0
    Rip0