Will LA Rams players explode into the NFT market? When? Who’s first?

Mandatory Credit: Mark J. Rebilas-USA TODAY Sports
Mandatory Credit: Mark J. Rebilas-USA TODAY Sports /
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Mandatory Credit: Gary A. Vasquez-USA TODAY Sports /

A new form of wealth

Just a new option, a new offering, a trading card in a new digital file format, also known as a “blockchain-enabled card.”  It is the blockchain that tracks the work and gives the owner of the NFT proof of ownership and authenticity. That blockchain is the same technology that is used in bitcoins and other cryptocurrencies. But NFTs do not allow their images to convert into other forms of currency. So they are unique and not mutually interchangeable, which means no two NFTs are the same.

There’s only one person walking around with a certified digital certificate saying they own Gronk’s (or any other player’s) Super Bowl highlights. And that owner has the rights to the original. It’s the scarcity that creates value. And these things? One in existence. The value of diamonds is dependent upon their scarcity. These are the new digital diamonds.

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The virtual connection to NFL teams and players

For the NFL, NFTs could represent a new way for fans to connect with their teams, players, and the game. But let’s not be too altruistic (showing unselfish concern for the welfare of others). This is about the wealth that is on display by the rights owner. It’s about the wealth it creates for the digital artist. And it’s one more pecking order to answer the age-old debates of which NFL player is more valuable than another.

Now, it will no longer be just about statistics, wins or losses, or Super Bowl rings. Now? The market itself can decide who is more worthy, whose NFT image is so passionately sought by wealthy fans that it commands the highest price. And that will trigger the fan of another player to outbid others for the NFL of their favorite player. This is a never-ending story.