source : cryptopotato.com
Without a doubt, the non-fungible token industry, alongside decentralized finance, has been the most talked-about and rapidly-developing part of the cryptocurrency space in the past year or so.
NFTs have seen adoption from celebrities, musicians, artists, global brands, companies, large organizations, and everything in between. Moreover, the connection between digital collections and the sports industry has grown massively on its own, leading to NFT sales from legends like Tom Brady, Shaquille O’Neal, Tyson Fury, Lionel Messi, and many more.
Data from Verified Market Research shows that the overall sports trading card market was valued at just under $14 billion in 2019. However, the forecasts show that it could grow to $100 billion by 2027, with most of it dominated by mainstream sports such as baseball, basketball, and association football.
Consequently, it’s not that big of a surprise that many platforms operating within the NFT space have specialized in providing digital collections for sports fans in particular. This is the case with EX Sport – a platform enabling sports enthusiasts to buy, trade, sell, and get engaged with such collectibles.
A Look at EX Sports
Launched three years ago, EX Sports operates as an NFT platform based on the Ethereum blockchain aiming to close the gap between high-earning sports and the so-called underdog sports.
The aforementioned leagues, such as the NFL, NBA, and MLB, bring significantly more money to the athletes than sports like muay thai, powerlifting, arm wrestling, jujitsu, and others. Nevertheless, the second group still has large groups of dedicated and passionate fans seeking ways to support and connect with their idols.
EX Sports wants to foster the connections between fans and athletes from lesser-known sports. It aims to do so by providing a new stream of revenue.
Aside from athletes, the platform enables other sports professionals, such as coaches, celebrity ambassadors, and key participants to issue up to 1,000 limited-edition non-fungible tokens per year. A specific percentage will remain in possession of the issuing party. Still, the remaining supply will be sold for EXS – EX Sports’ native cryptocurrency for buying and selling digital card packs on the marketplace.
By launching their own personalized digital collectibles, these sportspeople will have the power to promote and enhance their brands, start receiving new sources of income, and enhance their relationships with fans.
EX Sports also believes that sports federations and organizations can benefit by tapping into the NFT mania through more robust fan engagement and increased connections with the community.
The following video is courtesy of EX Sports:
Providing Benefits For Collectors
EX Sports promises numerous features for users participating on its platform. Firstly, they would be able to sell and trade digital collectibles with other fans from across the globe. After purchasing a certain set, the buyer will be able to buy a card booster to complete their entire collection.
Similar to investing in early-stage startups, EX Sports will have a designated feature that will enable fans to support their favorite athletes early in their careers. Additionally, they can make donations through EX Sports’ certified charity partners – United Through Sport.
The project also aims to battle one of the most significant issues in the NFT space – frauds and deceptions – by making the minting of new collectibles cryptographically signed. This would ensure its authenticity and enhance its robustness.
Fans will be able to store their collectibles in an integrated wallet, which should make the entire process easier and safer for them. Each such wallet will be displayed as a personalized album organized by category. The home screen will also contain information on introductory offers, promotions, and new arrivals.