How ePlays is Revolutionising Sport Enterprise NFTs in Australia
Digital art and digital land are both having their moment in the NFT space, but the sports industry is well and truly creeping to the forefront.
With major athletes and worldwide sports brands jumping into the ring, sports fans are finding all sorts of new ways to support their heroes. We already know the earning potential here is almost limitless. A LeBron James highlight sold for $200,000 USD on the NBA Top Shot platform, and packs on the marketplace are consistently sold out.
Despite some mind-blowing numbers, the sports NFT market is still in its relatively early stages – with lots of exciting room for growth. ePlays is Australia’s sports NFT enterprise solutions company that’s revolutionising the business of sport on the blockchain. But how are NFTs taking the sports industry up a league, and how is ePlays ready to up the game?
What are NFTs?
This question alone deserves its own blog (or series of blogs) but we’ll keep it brief.
NFTs (non-fungible tokens) are assets that have unique properties and cannot be directly traded for something else – the way a Bitcoin or an Australian dollar can be swapped for another identical Bitcoin or Australian dollar.
This uniqueness gives non-fungible tokens a scarcity that drives their value up. Whenever a person owns a particular NFT, they know they’re the only owner of this. And there are digital, verifiable records to prove it.
How NFTs are disrupting the sporting world
If you’ve got even the slightest interest in the blockchain and crypto scene, you’ll have already come across NFTs and the value they can hold. For example, a digital piece of art by well-known artist, Beeple, sold for $69 million USD. In the sports world, NFTs have continued to attract the attention of both businesses and the public, with NFL star Rob Gronkowski’s NFT drop generating more than $1.8 million USD in sales on OpenSea.
In every industry, NFTs are offering something new. They’re redefining ownership. As a result, people are willing to pay millions of dollars for a token that’s available to anyone with a few clicks of the mouse.
In sports, NFTs are evolving fan culture. We couldn’t get through this article without mentioning NBA Top Shot, an online marketplace that lets fans buy and sell digital clips of basketball player highlights. The structure works in a similar way to that of physical trading cards, only its digital nature means fans become the verified owner of a highlight.
Launched in October 2020, the NBA itself mints digital moments for fans. Collectively, the clips have generated over $500 million USD in sales.
With the hype around sports NFTs comes the emergence of more sports NFT marketplaces. Here, fans (or investors) can trade cards, accessories (such as jerseys and caps), memorabilia (awards, signed equipment, etc.) and of course, video clips.
So why are businesses and individuals paying so much attention to the sports NFT marketplace?
- Collectables gain intrinsic value
- Highlights can be recorded in a novel, digital way
- Achieve immediate liquidity
- Provides investment opportunities
- Players get royalties for their own NFTs
- Sports already has a huge fan base
- Boosts market visibility
eplays: Your one-stop NFT enterprise solution
ePlays is a pivotal player in making sports NFTs more accessible in Australia. By working with companies and major sports organisations, we’re developing ways to increase efficiencies and fan engagement through the power of blockchain technology.
Our team of blockchain experts work on whitelabel NFT enterprise solutions, and are developing dApps (decentralised applications) for our clients in the sports space.
Here’s a taster of the types of platforms and services we create:
- NFT Digital Collectibles
- NFT Ticketing
- NFT Memberships
- NFT Gambling
- NFT Ownership
- NFT Gaming
- NFT Merchandise
- NFT Loyalty Rewards
Non-fungible tokens offer brand-new possibilities and investment opportunities. They’re attracting a huge audience who want to not only make money, but to make it in the industry they’re passionate about. In this case, that’s sports.
ePlays has the technology behind us to help businesses evolve new revenue streams and unlock the opportunities made possible by this decentralised environment. Right now, we’re working on the development of some major sports NFT platforms for fans in Australia, bringing services similar to NBA Top Shots – and more – to the digital collectibles space down under.
Here’s what we’re bringing to the sports collectibles space
We’re Australia’s one-stop enterprise solution for sports NFTs. Not just the home of an upcoming sports NFT marketplace for sports celebrities, we also deliver NFT whitelabel enterprise d’App solutions so businesses in the sports industry can get a piece of the NFT pie.
We’re excited about what we have to offer this space, and we’re confident we’ll have Australia’s sports fans on the edge of their seats. Here are some projects ePlays has in the pipeline right now.
Stadiums Launch
Our upcoming Stadiums Launch is something to shout about. ePlays is set to be home of a sports NFT Marketplace, where sports celebrities will be able to manage their own stadium of NFTs.
Here, sports stars can come to mint and sell their own highlights to fans. The build of this brand-new metaverse is currently underway, with launch expected as soon as July! This is an interesting change from what we already know about sports collectibles, where major brands like NBA usually do the minting. With the ePlays Stadiums Launch, the power to mint and sell is directly in the hands of the athlete.
Enterprise dApps
Blockchain technology is removing the limits of efficiency and fan engagement for enterprises. A dApp (decentralised application) is a program that runs on the blockchain in a public, open source environment. That means it’s not controlled by any single authority, for more transparency and less risk of error or failure.
ePlays develops NFT Whitelabel Enterprise dApp Solutions. We work with businesses to bring something new to the game – whether that’s soccer, Aussie Rules, boxing or cricket. We’re able to take your idea and evolve it into a fully-functioning, user-friendly dApp made for the modern-day marketplace.
‘Top Shot’ style marketplace in Australia
Right now, we’re in the RFP (Request for Proposal) stage with three major sporting organisations in Australia. We’re working on creating an NBA Top Shot style marketplace, where sports fans can buy and sell NFT highlights of their favourite moments.
With the monumental success of Top Shot, it’s about time Australians got in on the action. All organisations that we have submitted tenders to are billion dollar names, and we’re excited to discover the potential for both these organisations and sports collectors across the country. We plan to release packs in the form of drops, where fans can purchase a pack and re-sell any rare moments on the marketplace for a profit.
Blockchain services for sports
More sports organisations in Australia (and around the world) are realising the potential of blockchain technology. There are endless opportunities to incentivise fan engagement, automate and streamline operations, and unlock new revenue models.
At ePlays, we deliver flexibility in our services. We’re more than open to hearing about your idea or objective, and working with you to develop a blockchain-based solution. Blockchain is set to impact fan identity, fan rewards and interaction, memorabilia authentication, athlete crowdfunding and much more. Contact us to discuss our sports enterprise blockchain services.
Keep up with our revolution
Things are moving fast! We’re pleased to be at the forefront of Australia’s sports enterprise NFT arena, and we’d like you to join us. To stay updated with the latest news in the blockchain space, as well as with what’s happening at ePlays, subscribe now. You’ll be the first to know about new developments, including the official launch of our Top Shot style marketplace, and the full launch of our website.
To discuss your own enterprise NFT solution, contact Damian who is head of Partnerships here at ePlays damian@in10tion.com.au
