PwC Believes NFTs Are the Future of Digital Assets in Sports

According to a report from auditing giant PriceWaterhouseCoopers (PwC), non-fungible tokens are the future of digital assets in sports.

The report asserted how digital assets will revolutionize how fans consume and interact with their favorite sports and sports teams.

PwC explained that ticket sales, sponsorships, and media rights are the current largest revenue streams for sports teams and leagues. It expects that tokenized tickets, NFT media rights and the sponsorship of digital or metaverse events will ignite rapid industry growth.

According to the consultancy, NFTs and digital assets are one of the ten major trends within the sports industry. The report lists three major use cases for NFTs that range from altering sports technology infrastructure to driving fan engagement, and their potential to shape the future of sports.

The first use case is collectible NFTs, which are assets used to sell authenticated, collectible and limited-edition digital content. This can refer to traditional memorabilia such as ticket stubs of historic events or player trading cards that are minted and traded on the blockchain.

Another relatively big use case is season ticket member NFTs. These NFTs will provide ticket members with verified token passes that allow them to access and enjoy exclusive fan experiences.

Season ticket members would not only be able to unlock additional content and stadium experiences, they could also stand the chance of receiving special edition collectible NFTs.

The last use case covered in the report includes virtual access tokens that will enable fans to attend games and matches virtually if they are not able to do so in person.