How does NFT+Sports spawn new ways to play?

Sports as an experiential culture of our reality, NFT will completely change the culture and dimension of sports.

How does NFT+Sports spawn new ways to play?

If you still do not know NFT, then you may have been left behind by the art wind vane. Today, NFT not only fires out of the circle, but also combines more and more closely with multi-track, making the era of everything can be NFT approaching.

On June 3, Ember, the person in charge of Blocksport China, brought a vivid sharing to the scene of the 1st event of “Coin Circle Old Friends” of Hunting Cloud Finance.

The following is the content of the sharing (edited and organized).

How can the film and television industry be combined with NFT?What exactly is NFT? Many people think that NFT is the artwork on the chain, is a picture, but it is not.

1, NFT definition

If you go by the full name of NFT to explain NFT (Non-Fungible Token), that is, non-homogenized tokens, is the only, non-splittable Token, the equivalent of a token with a number. The Token in your hand is completely different from the Token in my hand.

Bitcoin is a homogenized token, the Bitcoin you have is exactly the same as the Bitcoin I have. So many people mistakenly think that NFT is a picture, why is it a token?

How does NFT+Sports spawn new ways to play?

In fact, I explain in a different way, NFT is more like a tradable, given the value of the digital ID, each NFT can represent any asset in all dimensions when it is generated, that is, everything can be NFT.

2, NFT categorization

Trace the origin of NFT, in fact, the earliest NFT is a colored coin that can represent different assets for different purposes, and then later people want NFT and artwork combined.

Everyone has a different understanding of NFT, I’ll elaborate on what I think of NFT from multiple dimensions. nft can be empowered by assets that exist in any dimensional space, let’s explore to four dimensions for now.

One-dimensional NFT: One-dimensional refers to a straight line, and the NFT synthesized by the assets native to the chain is the NFT of the one-dimensional space, such as the tokens on a certain chain synthesize an NFT.

Two-dimensional NFT: refers to the mapping of virtual assets as a two-dimensional space NFT. for example, the NFT of the mapping of digital artwork we made through the code, the NFT of the mapping of game assets or the NFT of the mapping of other combinations of tokens on the chain.

Three-dimensional NFT: is the mapping of physical assets, then the NFT of three-dimensional space. for example, we now often say that the artwork, collectibles, real cards and other real-world assets mapped NFT.

Four-dimensional NFT: in the three-dimensional dimension with the concept of time, or other concepts, this is more abstract, at present we can temporarily understand the NFT marked assets are changing. This asset is a virtual asset and real assets instantaneously transformed, adding the concept of the future.

How does NFT+Sports spawn new ways to play?

Of course, we are now stuck in the three-dimensional NFT, but there are still big problems to be solved in the actual landing of the three-dimensional. For example, how to map the physical assets to the chain, how to ensure that the physical assets are real, how to obligate the NFT to the physical assets, how to cash out, etc.. All these problems are restricting the development of three-dimensional NFT.

In fact, the development of NFT is still immature. So, why can NFT represent assets in all dimensions? Who will define these? It is necessary to obtain an overwhelming consensus, which completes the real mapping of assets to NFT. Therefore, the development of NFT cannot be achieved without a strong consensus group.

3, NFT valuation

When we consider NFT as a mapping of various dimensions of assets, we can actually value NFT through the valuation of various dimensions of assets. Based on this dimension, the NFT value should be equal to the sum of the native value of the mapped assets, the asset liquidity premium and market expectations.

The native value of mapped assets is evaluated based on the value logic of mapped assets. Assets in each dimension can actually be divided into functional assets, experiential assets, equity assets and consensus assets, and the value of assets can be determined based on dimensions such as market supply and demand and economic cost.

Liquidity premiums can be measured by calculating the time and cost required to convert into funds. Market expectations are driven by speculative activity and are influenced by factors such as supply.

  1. NFT for sports assets

Just mentioned the NFT multi-dimensional classification, then these dimensions assets from the synthesis of NFT and then circulation and application of the entire ecology, NFT ecological projects can be divided into four layers: the basic protocol, NFT synthesis, NFT circulation and NFT application of the four layers.

If further based on industry segmentation, NFT currently exists mainly in the art, games, DEFI, meta-universe, music and sports industry, of which the most obvious growth is the NFT art market, and with the arrival of the European Cup and the World Cup, the sports NFT market also began to gradually grow. So, how exactly does the combination of sports and NFT play out?

Based on the various dimensions of assets just mentioned, first of all, sports assets are dimensionally classified: one-dimensional sports NFT is the native tokens of sports on the chain, representing the functional utility rights on the chain; two-dimensional sports NFT refers to the mapping of virtual sports assets, such as the mapping of sports game skins, etc.; three-dimensional sports NFT refers to the combination with physical sports assets, such as the mapping of sports collectibles, or physical clubs management rights, etc.; 4-dimensional sports NFT refers to the mapping of physical sports assets with the addition of a time dimension. Currently it does not exist in our three-dimensional space, so such NFTs can only be priced by our abstract definition.

How does NFT+Sports spawn new ways to play?

Sports as an experiential culture of our reality, NFT will completely change the culture and dimension of sports. At present, sports NFT in the market mainly focuses on three directions: sports games, sports collectibles and fan economy.

In the end, the value of sports NFT mainly comes from mapping the sum of the native value of sports assets, liquidity premium and fan consensus, so the value of sports NFT cannot be separated from a strong fan base.

The most important thing for the development of sports NFT is to get the consensus of the fan base, so a large sports IP fan base is currently one of the most important factors for the development of sports NFT. This type of NFT only needs to be licensed and develop sports NFT products. The advantage of sports NFT is that there is already a fixed fan base. Having a larger fan base also means a greater possibility for the blockchain to cash in on existing fans from within the original domain. However, if the license is revoked, then the value of the NFT will be significantly reduced.

How does NFT+Sports spawn new ways to play?

In addition, the value of sports NFT has strong content media properties, and the audience accepts the NFT with the same degree of recognition as real-life IPs. For example, soccer players, basketball players and other idol stars this kind of real-life characters. The recognition and acceptance of IP and idols by users and fans will attract more capital attention. The fan economy is thus formed, which further shapes the business model that can generate economic benefits.

At the node of the European Cup and the World Cup, the combination of NFT and sports is still a trend that represents the imagination of the future. But in the final analysis, whether it is sports NFT collectibles, VR+NFT and fan tokens are all extensions of the fan economy. Behind this is the interaction and demands of big IP and fans, and the launch of sports NFT products that meet the needs of fans is the core issue that the industry needs to think about, so as to open the door to the new world of sports NFT.

It is worth mentioning that Blocksport project is recommended by the former vice president of NBA Sam, founded in 2019, is a sports technology company based in Switzerland, mainly for e-sports clubs and sports clubs to provide APP saas services, currently served nearly 100 clubs, and the German Bundesliga, English Premier League, La Liga and many other clubs to establish cooperation. It will soon launch its NFT platform, which provides a variety of sports collectibles bidding, fan token issuance and NFT mining to build a sports NFT aggregation platform for sports fans that integrates games, sports NFT collection, and fan fan community-based management.

Posted by:CoinYuppie,Reprinted with attribution to:
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