During the COVID-19 pandemic, NFTs (Non-Fungible Tokens) were a highly discussed topic, but currently, the hype around them has quieted down. NFTs gained popularity when Web3 and decentralized technology emerged as future trends. The concept of a "token-based economy" also reached the world of sports, although it struggled to gain traction in the more traditionally organized industry.
Now that the initial wave of hype has subsided, there is an opportunity to delve into the topic in more detail. In our webinar on April 27th, we had the pleasure of welcoming Tanja Aschenbeck, a partner at the renowned business law firm Osborne Clark. As an expert in financial services, she explained how NFTs work and their potential role in the sports world.
💡 Our 3 learnings 💡
There are three different types of tokens: Payment/Currency Token (z.B. Bitcoin), Utility Token (z.B. tickets) & Security Token (z.B. securities).
NFTs can function as both Utility and Security Token.
NFTs have already been used in sports, and their future applications are particulary promising in sponsorship and fan engagment.
For more exciting details, you can find the recording of the keynote presentation below. 👇
Comments