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Fans seek trust and better understanding of sports NFT market: Research

Published 07/23/2022, 06:30 AM
Updated 07/25/2022, 08:40 AM
Fans seek trust and better understanding of sports NFT market: Research

Fans seek trust and better understanding of sports NFT market: Research

The heavy involvement of the sports ecosystem is what expedited nonfungible tokens’ (NFTs) mainstream adoption as the teams and players leveraged the technology for fan engagement. However, sports fans revealed their interest in moving beyond the hype and making investments based on knowledge about NFTs and trust in the issuers.

The prolonged crypto winter razed off the inflated floor prices across the NFT ecosystem, inadvertently changing investor sentiment and forcing users to rethink their long-term investment strategies. A study released by the National Research Group (NRG) revealed an openness among sports fans to learn about NFTs as they await a greener market.

Number of daily NFT sales between June 2021-June 2022. Source: NonFungible

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