It only took a few months for the multi-million dollar question in digital collectibles to go from “What is an NFT?” to “How can we create, sell and trade NFTs?”
Non-fungible tokens (NFT) are still in that early stage where the marketplaces assume a lot of know-how and have a look that only appeals to the CryptoKitty crowd. Sports properties want to talk like NFTs are ready to take over for trading cards and bobbleheads, but they are no more ready to mint and sell NFTs than fans are ready to buy, collect and trade them.
Staying true to a 120-year tradition, WW&L is making it easier for sports properties and live events to connect with their fans. In the early 1900s, it was rolls of custom-printed paper tickets. In 2021, it’s through white-label NFT marketplaces.
WW&L will work with you on the Four C’s of NFTs: concept, creation, collectability and circulation.
Sports and other live events have three main options for the NFT concepts: tickets, collectables and souvenirs. We already combine all three in the physical world with our souvenir tickets and NFC-linked printing. Now, we’re taking them onto the blockchain. But that doesn’t mean you have to leave the tangibles behind. WW&L can mint NFTs that are linked to physical assets. Those trading cards and bobbleheads you’ve been giving out for years? Don’t break your vendor contract – you’ll still be handing them out at the door. Only this time, there will be a digital upgrade that you can manage to have recurring interactions with the owner or to gain a share of any follow-on sales. That’s right – NFTs can keep the originator in the resale market’s revenue stream.
Selling an NFT is one of the first steps in the experience, rather than one of the last. You can use the NFT to share exclusive content from the event or in advance of the next one. For example, people who own an NFT from last year’s festival could be the first to see the lineup for next year’s edition via exclusive video of the performers connecting to the NFT.
NFTs can be the vehicle for advance ticket purchase codes, the location of pop-up events or activating on your sponsorships. Organize a meet-and-greet for NFT holders at a sponsor’s pop-up shop. By using the NFTs, you control the access list, reward your most motivated fans and deepen the connection with the sponsor. Wins all around.
With WW&L’s NFT marketplace, you can mint and sell NFTs without anyone – not you, not your fans – having to worry about what a gas fee is or what layer of Ethereum we’re using (if you are interested, it’s polygon layer 2 Ethereum). As far as you and your fans are concerned, the NFT is just another way you’re offering an enhanced fan experience.
A normal looking marketplace, a standard way of purchasing, and then all the long-term, open-ended benefits of NFTs. WW&L is opening the NFT landscape to anyone who wants in. Call us today to start setting up your brand’s NFT marketplace.