Here's your weekly review on what happened at the intersection of NFTs and Sports:
- 👾 DAZN introduces Moments platform and Candy goes Racing
- 🏈 L.A. Times' NFTs for the Rams and Senior Bowl NFTs
- ⚖️ Getting legal: Nike vs StockX
Let's have a closer look! 👀
👾 DAZN introduces Moments platform and Candy goes Racing
"Media powerhouse mixi, Inc. and global sports streaming service DAZN Japan Investment GK today announced that DAZN MOMENTS, a sports NFT marketplace, will launch on Flow, a leading Web3 platform designed for consumer-friendly applications. The announcement was made locally in Japan with Flow confirming the new marketplace will launch in the spring. (...) The DAZN MOMENTS marketplace will allow users to collect moments of super skills of players as well as memorable moments of various sports in Japan. DAZN MOMENTS will draw upon mixi's success in entertainment and sports – including the social network mixi – as well as the mobile game Monster Strike, which has grossed more than $9 billion since its launch in 2013; and DAZN's global lead in streaming live and on-demand sports events to more than 200 countries and territories."
"Candy Digital will release NFTs based on 23 NASCAR Cup Series vehicles as part of a deal with the Race Team Alliance. Candy’s new racing vertical will officially roll out next week with the release of NFTs based on 23 NASCAR Cup Series cars from a total of 10 teams, including Hendrick Motorsports, Joe Gibbs Racing, Stewart-Haas Racing, Richard Childress Racing, and Roush Fenway Keselowski Racing. To be clear, Candy’s deal is with the Race Team Alliance—not the NASCAR league itself. The Race Team Alliance is an organization that represents the collective business interests of 13 teams in the league. Popular drivers such as Chase Elliott, Kyle Larson, and Kevin Harvick are among those whose cars will be represented as NFTs. Each NFT takes the form of a 3D animation that showcases a deconstructed view of NASCAR’s brand new “next-gen” team cars—Chevrolet Camaro ZL1, Ford Mustang GT, and Toyota Camry TRD—dressed up with each driver’s respective paint scheme. Essentially, it lets collectors see the new cars from the inside out."
🏈 L.A. Times' NFTs for the Rams and Senior Bowl NFTs
"The Los Angeles Times is releasing its first NFT collection to mark the Rams’ run to Super Bowl LVI. The Times is working with GuardianLink and L.A.-based artist Mister Sampson to create the collection. In addition to the NFTs, the L.A. Times online store features a variety of commemorative items, including print editions that chronicled the Rams’ push to reach the Super Bowl."
"College football players in the Senior Bowl each received a one-of-a-kind personalized NFT collectible. In the run-up to the game, each player recorded video footage that Panini then transformed into a single-edition NFT. The NFTs were minted on trading card brand Panini’s own blockchain platform. The next wave of potential rookie sensations just got their own 1-of-1 Panini NFTs that they can hold or sell."
⚖️ Getting legal: Nike vs StockX, seized NFTs
Nike is suing online marketplace StockX for launching NFTs based on Nike shoes, testing the limits of crypto trademark law and what an NFT actually is. "The problem is that Nike shoes are extremely popular on StockX, and its Vault tokens are linked with the name and picture of their corresponding products. Nike alleges that the resulting crypto assets constitute trademark infringement, false designation of origin, and trademark dilution, among other violations. The case hinges on whether StockX’s NFTs are an extension of its normal reselling process (like a digital receipt of ownership) or whether they’re products in their own right, with potentially significant implications for NFTs in general."
🤓 Wrapping it up
So what have we learned in this week's issue?
- Platforms keep expanding. DAZN goes moments and Japan, Candy goes racing and teases an expansion into the entertainment sector. We are in a very defining time of the NFT market in which capturing new geographies and licenses within the sports and other industries are heavily sought-after.
- Betting on the future: Panini's cooperation with the Senior Bowl is an interesting attempt to already equip young players and future stars with NFTs. That creates a good brands perception and should also pay out in the long run, as early NFTs of future superstars should be able to score high revenues in which Panini will participate through royalties.
- Legal issues all around. When speaking to clubs, leagues and other stakeholders of the sports industry one topic always comes up: What about the legal aspects? And that is, as of now, still wild wild west times, with almost none court rulings in existence. That's why the Nike vs. StockX is such an interesting and important case, potentially paving the way for future cases. We'll be watching closely and am very convinced that this is just the start of a range of upcoming legal battles in NFT land.
And 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! To stay up to date: Make sure to follow us on Instagram and Twitter for stats, drop announcements and more.