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

Whose line is it, anyway?

Well, according to Sports Business Journal, the NFL is currently engaged in what it is calling “active discussions” with possible NFT partners. And the scope of their interest has expanded into all digital collectibles, and for that matter, about the use of blockchain technology for NFL ticketing and other pragmatic applications.

And in a memo recently distributed to all NFL teams’ front offices,  the league has asked teams to hold off on cutting their own NFT deals without checking with the league beforehand. The league’s memo goes on to say that a “measured and deliberate approach” to this new area will be forthcoming.

I reckon the NFL brass took notice that NFTs are a potential threat to its licensure money stream. Not to mention the money flows into player’s pockets. And so that’s a new player-empowering feature of NFTs – artists, or in this case, NFL players, retain a portion of future sales.

It’s yours, and only yours, with limits

You see the NFT bestows exclusive ownership to whatever it is, whether it’s a piece of artwork, a piece of music (the rock group Kings of Leon recently released an album in NFT format), or a player’s Super Bowl or NFL career highlights.

Its value is based on owning something that speaks to you, that you identify with, such as your favorite NFL team or LA Rams player. It could even be an NFL gameday ticket! (That’s another avenue the NFL is exploring – harnessing NFTs to drive ticket sales)

For example, the NBA’s Top Shot offers NFTs they call “Moments” which are essentially video clips of favorite players or teams. It could be Larry Bird’s three-point shooting performance at the NBA All-Star Game of the past but could be aimed at today’s game, a clip of a step-back three from James Harden. The NFT would give you exclusive ownership of a moment, a memory, a sports touchstone that resonates with you personally.

It’s similar to why some people buy art. It’s just something they like, that speaks to them. There may not be any deeper reason than that.

Person-to-person trading of NFTs is no different than when you wanted to trade your Jack Youngblood LA Rams trading card for your buddy’s Deacon Jones or Merlin Olsen LA Rams trading card of the past. That’s called the secondary NFT market and it’s been pegged at more than $380 million. That’s the tip of the iceberg.

Should the Rams get on board with NFTs, here’s hoping the upcoming season’s NFT is new WR DeSean Jackson reeling in aerial bombs from new QB Matthew Stafford and taking it all the way to the house.