A comprehensive guide to NFT Sports Marketplace Development

Players and teams can interact seamlessly with their admirers and fans now. The huge growth of the metaverse has resulted in this phenomenon. Today, crypto-collectibles of various sports like cricket, football, tennis, baseball, basketball, Formula1, kabaddi etc are being launched. Likewise, sports aficionados are purchasing trading cards, videos, images, and rare merchandise by taking part in auctions. Are you an aspiring metapreneur? Join hands with us to develop an NFT for sports. 

Discovering the significance of Sports NFTs

Unquestionably, there is an adrenaline rush in the minds of fans when they watch matches and see their favourite players in action. In recent times, more attention is being given to blockchain technology and cryptocurrencies. However, Non-Fungible Tokens (NFTs) are in vogue now. This is because it offers benefits like uniqueness, interoperability, transparency, and indivisibility.  

Fans also get a sense of pride when they own a rare collectible. Moreover, they can verify the authenticity of the NFTs by checking their token ID, contract address on the block explorer, and the token standard. 

How will the Sports NFT industry grow in 2022? 

According to Deloitte, an international consulting company, the transaction volume of Sports NFTs will surpass $2 billion this year. 4-5 million fans will buy limited-edition sports collectibles.

Likewise, athletes, clubs, as well as renowned teams will have to focus on the pricing of the NFTs. It depends on factors like the importance of the event (national and international) and the nature of the content (GIFs, emojis, photos, videos etc), and the demand from sports aficionados. 

With different leagues and tournaments being held across the universe now, the conditions are economically feasible for NFT sports marketplace development. Moreover, the future of this multi-billion-dollar opportunity will depend on factors like KYC/AML regulations, and policies of governments towards token sales. 

Besides that, affordability will be a major concern when valuable NFTs get minted and sold. Hence, fractional ownership will help small investors to purchase these rare collectibles.

What are the famous NFT Sports Marketplaces in the world? 

Sorare

The fantasy football game on Ethereum has grown tremendously since its launch in December 2018. Users can buy and sell trading cards of national and international clubs. Generally, fans can bid for 4 types of NFTs (Limited, Rare, Super Rare, and Unique) every season. Moreover, football fans can also develop lineups, build strategies, and get points. Generally, their rewards depend on the performance of players in various matches and tournaments. 

Overall, it has collaborated with 230 clubs across the world. Importantly, our Sorare clone script contains several features like a search and filter mechanism, social media sign-in option, an affiliate program, and a 24×7 technical support centre. With international football happening in full swing, it is the right time for NFT sports marketplace development. 

F1 Delta Time

The blockchain game on Ethereum allows users to buy and sell cars and attractive components. It also offers weekly rewards to gamers in the form of REVV tokens, trophies, and fraction keys. Moreover, players can take part in various Grand Prix events across the world. 

They need to create an account and link software wallets like Bitski, Dapper, Fortmatic, MetaMask, Portis, Torus etc. Subsequently, they can bid for the rare collectibles by processing transactions in Ethereum (ETH) and Wrapped Ethereum (WETH). Importantly, details of the standings and race timings are displayed on the leaderboard. Hence, this ensures transparency. 

NBA Top Shot

Fans can purchase licensed collectibles of both the National Basketball Association (NBA) and the Women’s National Basketball Association (WNBA) here. In the last 30 days, the trading volume of NFTs on NBA Top Shot has surpassed $39.59 million. Around 110,992 users have bought 1.66 million digital collectibles from the platform. 

Built on the Flow blockchain, users can also get rewards for completing legacy and flash challenges. Moreover, basketball fans can discover attractive collectibles effortlessly. They can tap the search panel and enter the names of players, teams, and sets. 

Besides that, the latest listings section displays the common, fandom, rare, and legendary collectibles for sale. Users can see the lowest ask price and process the transaction in Ethereum (ETH), Flow (FLOW), and US Dollars (USD). Authenticity is ensured as information about the edition size, number of collectors, and the number of NFTs hidden in packs is available. 

Socios 

Fan Tokens are the unique selling point (USP) of Socios. Located in Malta, the platform has partnered with more than 120 clubs. This includes reputed ones like the La Liga, UEFA Champions League, and Serie A. Owners of Fan Tokens get several benefits. They can directly vote on various polls, win prizes after winning tournaments, and also trade their fan tokens and get more returns. 

Currently, Socios has become a hub for collectibles of various sports like football, gaming, fighting, motorsport, basketball, tennis, and ice hockey. Importantly, the team leaderboard displays data about fans with the highest rewards and the most number of points. Users can also win points by predicting scores for their favourite teams ahead of a match. 

DeRace 

It is a popular racehorse platform operating on the Play-to-Earn (P2E) mechanism. Moreover, users can take part in contests, battle it out against fellow players, and win exciting rewards. Importantly, they need to possess some $DERC for breeding horses and paying the entry fees. 

Moreover, users receive real-time updates about the results. Hence, information like the name of the race, the hippodrome, the distance, the date and time of the event, and the prize pool is available. Besides that, DeRace allows integration with the MetaMask wallet and supports the WalletConnect open-source protocol.

The roadmap of DeRace, the sports NFT platform looks promising. It will focus on aspects like NFT horse renting, hippodromes with turfs and synthetic surfaces, activity rewards for players, and lotteries. 

Wrapping Up

Besides that, several NFT marketplaces like Rario and FanCraze (cricket) and Autograph (multiple sports) are growing rapidly. Interestingly, data analytics and fantasy sports will be the next big trends. What are you waiting for? Take the lead in the metaverse by contacting us for NFT sports marketplace development.

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Marketing is my soul mate and writing is my side kick. Using my writing skills to share the knowledge of app development and upcoming technologies.