Thanks to the rise in NFT markets, there are several ways you can generate profits with NFTs, be it active or passive. If you know what you are doing and you invest in profitable NFTs, then there is a good chance you can get back your investment. There is no guarantee your NFT investments will turn profitable, although a lot of people are hoping this is the case. Most people expect their NFTs to increase in value so that they will sell at a profit.
Whether NFTs remain a viable investment or are doomed for a crash and burn remains to be seen, but one thing is for sure, people cannot get enough. For the time being, they are a no-brainer investment opportunity and an excellent way to acquire some unique digital art, should you be in the market for collectables. NFTs are a perfect investment option for anyone interested in digital artwork, looking for exceptional collectables, or looking for an investment that will pay off. Most of the NFT market is now focused on digital art and sports cards, though some other high-priced NFTs are out there.
In 2022, the most prevalent and profitable use for NFTs in the sports industry is likely limited-edition video clips or cards that commemorate sporting moments. An athlete’s visibility will determine the value of each NFT, significance in an event, any complementary content included in the NFT and demand. A recent Deloitte report from Deloitte estimates up to five million sports fans will buy or be gifted an NFT in 2022, according to research, with limited-edition video clips and player cards being the most common and profitable. Creating a sports collecting platform built on the NFT platform will likely remain an elaborate and challenging exercise well into 2022.
According to one market research firm, NFT’s value of the market was $50.1 billion in 2021, and it may grow to $130 billion or more by 2030, due in large part to increased demand for decentralised markets and digital collectables. Like cryptocurrencies, the NFT market has soared in popularity, reaching $22 billion worldwide in 2021, as digital images are becoming a significant investment opportunity. Deloitte Global forecasts that sports media NFTs will bring in over $2 billion of transactions in 2022, roughly double the 2021 number. The 2021-22 season may be the first time NFTs begin to impact revenue-wise significantly.
In addition to Morgan Stanley’s previously mentioned forecasts of the fashion industry NFTs, Deloitte has predicted that sports NFTs could generate over $2 billion worth of transactions in 2022, over twice as much as they did in 2021. If these forecasts hold, it might be well worth your time to begin to evaluate the stocks of companies associated with the NFTs, even before the height of the boom begins.