Bullish attitude on sports NFTs remains

As metaverse and Web3 technologies move forward after 2022’s hype bubble, CoinFund’s David Pakman while speaking during Tech Week took on why people in sports should still be interested in these technologies after last year’s deflating news, writes SBJ’s Jason Wilson.

“It’s an intellectual property-driven industry that also creates unique and scarce experiences,” he said. “And obviously, super-high engagement, unbelievable global appeal and perennial. But when the world went digital because of the internet, it became much harder to create scarce intellectual property experiences.”

“People in sports would love to be able to sell scarce digital assets, and that’s what NFTs are,” Pakman added. “They are scarce. We can ensure only a certain number of them are created. … That should be interesting to any businessperson thinking about sports.”

Pakman (r) is still a believer in the power of sports NFTs

Pakman: “I would argue that that makes NFTs the most successful new consumer product since the smartphone. … By the way, the No. 2 most successful category of NFTs are sports NFTs. NBA Top Shot, NFL All Day, the Sorare football stuff.”