PwC predictions on NFT trends for 2022

PwC looks at the different use cases of NFTs for the sports industry - trading cards, tokenized fan passes, virtual experiences, and more.

PwC predictions on NFT trends for 2022

We know that non-fungible-tokens have taken the sports industry by storm, with dapps like NBA Top Shot and NFT collections like Ballerz climbing quickly to Web3 fame. These digital assets are one of the ten major trends within the sports industry according to PWC’s Sports Outlook 2022 Report. The first notable use case they mention for Sport NFTs is NFT-based trading cards. According to PwC, NFT trading cards are licensed by leagues, teams or individual athletes, and these collectibles are a great opportunity for sports organizations that are serious about digital assets. “Trading cards have been popular for decades and with multiple organizations already collaborating with NFT companies to build their own digital trading cards, this is more than just a passing fad,” PwC wrote in its 2022 report.

The second use case of Sport NFTs is season ticket member (STM) pass, or a tokenized pass for loyal fans. When the report says “tokenized,” they mean that the ownership of the pass is recorded on the blockchain and it cannot be altered. For example, users who buy STMs will have access to special content, stadium experiences and could also receive NFTs for the games they attend such as POAPs or Proof of Attendance Protocol NFTs (purely for collectible purposes).

The last use case that PwC listed in its annual report is the emergence of metaverse access tokens for fans who prefer to pay more for a virtual experience or those who may not be able to attend games in person. “NFTs could give owners access to more behind-the-scenes perks such as player cams, bench cams or even virtual locker-room access.” The company expects that tokenized tickets, NFT media rights and sponsorship of digital or metaverse events to propel the growth of the industry, stating that digital asset sales might also become a “serious” revenue stream. “Much like NFTs, the regulatory landscape surrounding blockchain technology is evolving. This industry has always responded well to shifts in customer behavior, and Web3 is almost certainly going to be a major one. Teams should prepare for a sports world that is about to embark on a reimagination of so much of how fans consume sports,” the company added.

PwC is taking NFTs very seriously and this report should help educate any sports industry professional looking to learn more about how the technology could impact their business.