Investor Alexis Ohanian, co-founder of Reddit and husband of tennis legend Serena Williams, is one of the latest well-known names to support NFTs, or non-fungal characters.
“I have invested a lot in women’s sports, but the rise of the NFTs and the rise of the trade card is going to be BIG for women’s sports,” Ohanian said. tweeted on Saturday.
“Save this tweet,” he added, pointing out that women investing in the market for NFTs and other digital assets will change the game, “especially as the user experience and interface for the platforms improve over time” and the market becomes more efficient. [and] liquid. “
NFTs are unique cryptocurrency tokens used to represent digital assets, including artwork, sports collectibles, and video clips, to name a few. NFTs can be bought and sold just like physical assets. Since they work on blockchain, a decentralized digital ledger can be found that documents transactions, ownership, and validity of the asset that the NFTs represent.
In February, an NFT highlight with a LeBron James canister was sold for more than $ 200,000 by Dapper Labs’ NBA Top Shot, an online platform selling NFT-collecting “moments” from popular players. And it wasn’t just a one-time situation – the NBA Top Shot has generated more than $ 230 million so far, reports CNBC.
Although the collectibles so far have mostly centered around men’s sports, Ohanian predicts that the NFT market for women’s sportswear will be even larger.
“These markets are currently dominated by men. Women are undervalued, just like in other markets, even though they actually have a lot more influence on dollars,” Ohanian said. tweeted, also pointed out that women control a larger share of consumer spending than men.
For example, he said, “You’ve Seen All the Mimetic Strength” by Megan Rapinoe, a legendary American professional soccer player.
“[W]hat happens if someone in the US can invest in ‘Megan Rapinoe’ shares? “Ohanian asked.” Spoil: it goes to the moon. ‘
Ohanian went on to note that ‘the billions we’re seen so far in card trading’ transactions on platforms like NBA Top Shot and the football digital collection platform Sorare ‘are (for the time being)’ ignoring half the world ‘ collectibles of women do not sell sports.
Indeed, Dapper Labs is “actively building experiences for women’s sports,” a company spokesman told CNBC Make It, “including the WNBA.”
Sorare also has similar plans. Ohanian is an angel investor at Sorare, and one of the “big projects” he is working on with the company is getting women’s soccer on the platform, a Sorare spokesman told CNBC Make It. At present, 18% of Sorare users are women, although the platform does not yet offer collectibles for female athletes, the company says.
Like Ohanian, investor Mark Cuban also predicts that the NFT market will disrupt the sports betting market, along with the arts, music and film industries.
“This generation knows that a smart contract and the digital stuff it reflects, or a CryptoAsset, is a better investment than the old school sees, touches or feels,” Cuban wrote in a blog post in January.
Those who buy NFT-based collectibles bet that the market will appreciate like physical trading cards. After all, “MAN WANTS to celebrate their Super Heroes, men as well as women, and if they miss this opportunity, it’s going to look like an idiot in 20’s. [years], “Ohanian tweeted.
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