The US has many of its top sports leagues already engaged in blockchain technology with major soccer teams having one or more NFT (non-fungible tokens) deals. It is, therefore, not a surprise when the American National Football League, NFL, finally sealed an NFT deal with Dapper Labs.
The Deal
In his statement, Joe Ruggiero, the NFL’s Senior Vice President of Consumer Products expressed how thrilled they are at their partnership with Dapper Labs. He further went ahead to mention the great potential of blockchain technology in enhancing the NFL’s fan experience. Also, Dapper Labs is among their very first collaborators as they keep exploring this new field.
The deal between Dapper Labs and the National Football League states that the company will be in charge of the creation of video highlights of plays. The NFTs are like virtual sports cards. However, the main difference is, you will no longer get a player’s picture with statistics on its back.
Moreover, the deal is almost similar to that between Dapper Labs and NBA Top Shot which has game highlights which consumers purchase and trade or sell for a profit.
What Does This Collaboration Mean For American NFL?
Initially, at the beginning of September, there was an announcement by the NFL that teams are not allowed to partner with firms in the cryptocurrency market or any other blockchain initiatives. This happened when major sports teams were already having contracts with NFT products.
Interestingly, since the NFL has finally joined the game and sealed a deal with Dapper Labs, what does this mean for it? First, joining this emerging space means that the NFL is now financially stronger and is more sustainable. Moreover, since it took them a while before joining the space, they had a chance to see where the other sports leagues failed, and they can work differently to avoid the same by doing better.
Nonetheless, the NFL’s late launch into this industry means that they had the time to get rid of projects that were not very successful. Besides, this deal means that the NFL can now generate a product that interests their fans.
If this new deal goes as said, the product NFL will receive from Dapper Labs will be a major source of digital revenue, coming second after EA Sports’ Madden.
What is the Effect of Dapper Labs?
Dapper has won the NFL contract any of its competitors would wish to win. Well, the good news is, after the company’s latest investment of $250.
This new deal will surely help build Dapper Lab’s portfolio which is already very strong in the industry.
Moreover, the company is continually investing by partnering with numerous blockchain products. The involvement of the fans cannot go unnoticed either.
Other than this partnership with the NFL, Dapper Labs has plans to seal deals with other NFT offers. This is in a bid to help increase the consumer’s interest. However, if there is an oversupply of these NFTs, it might be confusing to the consumers, and can diminish their interest.
Enhancing NFL Fan’s Experience
The NFL’s late deal with Dapper Labs after major sports leagues had joined the game gave it time to see where to work differently to do things better. Also, this new partnership means increasing fans’ interest.