Nick Kyrgios Australian Open NFT auctioning for A$9999.99
- Australian Open men’s doubles winner says NFTs are the future of collectibles.
- NFT trading website sweet.io released 12 tokens with ‘The Final Win No.1’ auction price at a hefty A$9999.99.
- Deloitte predicts that NFTs for sports media will generate more than US$2bn in transactions in 2022.
Nick Kyrgios has served his fans after winning the Australian Open 2022 men’s doubles title by releasing a set of non-fungible tokens (NFTs), with one named ‘The Final Win No.1’ priced at A$9999.99.
The tennis ace is the latest professional athlete around the world to embrace NFTs.
An NFT is a unique digital certificate that proves ownership of collectibles, which could be anything from a video or an image, to even a tweet. They are non-interchangeable units of data stored on a blockchain, which is a form of digital ledger that can be sold and traded.
NFT trading website sweet.io released a set of Nick Kyrgios NFTs, which Kyrgios said “are the future of collectibles and I always want to be on the cutting edge and to advance our sport”.
‘The Final Win No.1’ NFT is at the pricey end whereas the lowest priced NFT is called ‘King Collection’ and comes with a price tag of just $20.22. There are also five limited-edition tokens on offer.
Professional athletes and sporting codes around the world are increasingly embracing NFTs. As seen on Grafa TV on December 15 in an interview with Cheddar’s Kristen Scholer, the NBA’s Golden State Warriors President Brandon Schneider said the Warriors were teaming up with crypto exchange FTX after becoming the first professional sports team to launch an NFT collection.
Deloitte Global predicts that NFTs for sports media will generate in excess of US$2 billion in transactions in 2022, about double the figure for 2021. By the end of the year, it is expected that up to 5 million sports fans around the world will have purchased or been gifted an NFT sports collectible.
“Interest in sports NFTs is likely to be spurred by activity in the wider NFT market, including that for digital art, the top five most valuable sales of which had generated over US$100 million by August 2021,” the Deloitte report said.
The most common and lucrative application of NFTs in the sports industry in 2022 will likely be the sale of limited-edition video clips of sporting moments or player cards, according to Deloitte.
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