Here's your weekly review on what happened at the intersection of NFTs and Sports:
- 🏈 NIL kicks off NFTs by Dreamfield and Thibodeaux
- 🇺🇸 Monumental launches NFT collections for Wizards and Capitals
- 💰 Looking back at the NFT drops of Juventus Turin and Andy Murray
Let's have a closer look! 👀
☀️ A quick reminder: We will go into a two-week summer break after this issue. The next one will be published on July 30. Have a good summer y'all!
🏈 NIL kicks off NFTs by Dreamfield and Thibodeaux
It was long awaited and now became a reality: College athletes in the U.S. will finally have the opportunity to benefit from their name, image and likeness - in short NIL - allowing them to enter commercial deals and start businesses. This kicked off a range of announcements and new contracts. And it also had an impact in the field of NFTs as we witnessed two activities already
1) The college footballers McKenzie Milton (Florida State) and D'Eriq King (Miami) have co-founded the platform Dreamfield, which offers messages and meetings with college athletes. Dreamfield also has an NFT section, starting off with McKenzie's first NFT collection on OpenSea. King will follow later this month. They also offer other athletes to get in touch with them for further launches.
2) And then there was Kayvon Thibodeaux, potential top pick in the 2022 NFL draft, who dropped an NFT collection with Nike founder Phil Knight and artist Tinker Hatfield. The collection is titled "Kayvon's Trilogy" and is available for 0.045 ETH, making it more affordable than many other NFTs.
Our take: Those guys didn't waste no time :) Followers of our weekly articles know that athlete-driven NFT drops have been a popular endeavour over the last months, so we are not surprised that college athletes try to catch up as quick as possible. However, many drops by athletes did not go so well, so let's see if the college ones come up with some good, new approaches.
🇺🇸 Monumental launches NFT collections for Wizards and Capitals
Monumental Sports & Entertainment, the ownership group of the NHL’s Washington Capitals and NBA’s Washington Wizards announced that they have commissioned two renowned D.C. artists to create unique collectables.
- The Wizards' "Starting Five Collection" is a five-part NFT series that celebrates the diverse and powerful hometown of the team, Washington D.C. The first 500 items will be free. Some of the pricier NFTs include special items like court-side tickets, signed jerseys or a meet-and-greet with the team owner.
- The Capitals' "ALL CAPS All-Digital Fan Collectibles" comes with two themes: one celebrates the 2018 Stanley Cup Championship and the other features the team's iconic screaming eagle. Add-ons to the NFTs include special jerseys, a VIP experience or a physical championship ring.
Our take: It is obvious that the teams put a lot of thoughts into creating these packages, which contain really valuable items. The Capitals' seems to have taken some inspiration from the successful NFT collection of the Golden State Warriors though ;) Overall the drop includes many factors that have contributed to good NFT collections in the past, they definitely have made their homework. Let's see what the outcome is!
💰 Looking back at the NFT drops of Juventus Turin and Andy Murray
The official signed home jersey of Juventus Turin sold for $30,500. You might remember that we mentioned the VIP experiences that was supposed to come with it, if a certain (not communicated) threshold would be met. We were afraid that this potentially leaves an unhappy fan behind. And well, part of that fear became reality, as the auction page says that the winning bid was not enough to unlock that special experience. Let's hope the winning bidder was aware of that. Besides this we think that $30k is a really good result for this auction.
And then there was Andy Murray's NFT auction, celebrating his historic Wimbledon win, and also involving a special VIP experience and great overall package (no threshold here). This one exceeded probably all expectations as it sold for almost $180,000, making it a really good debut drop for Beeple's WENEW platform. Well done!
🤓 Wrapping it up
So what have we learned in this week's issue?
- The change in NIL rules brings a lot of business opportunities to college athletes, and unsurprisingly they try to jump on the NFT bandwagon. We remain curious on how well and creative the drops will be executed, hoping that it won't just be a copy paste approach.
- The MSE teams seem to have followed the sports NFT market closely, as they have set up collections that check many boxes for a successful drop. Especially the hybrid approach of connecting NFTs with real-life experiences and items looks well prepared.
- The Andy Murray NFTs show how a successful drop has to be done, combining a truly historic event with a rich package that includes great experiences which turn out to be a success factor for many collections.
That's it for this weeks issue! And as always: Feel free to reach out for feedback and to discuss all things NFT and sports! And to stay up to date: Make sure to follow us on Instagram and Twitter for stats, drop announcements and more. And join us on our Discord server to discuss the latest news and insights about NFTs in sports.