Investor Alexis Ohanian, co-founder of Reddit and husband of tennis legend Serena Williams, is among the latest high-quality names to support NFTs or non-fungible chips.
“We have invested a lot in women’s sports, but the increase in NFTs and the growth of trading books will be HUGE for women’s sports,” said Ohanian posted on Twitter Saturday.
“Save this tweet,” he added, noting that women who invest in the market for NFTs and other digital assets “will change the game,” especially as the user experience and platform interface improve over time, “and the market becomes more efficient. [and] liquid.”
NFTs are unique cryptocurrencies used to represent digital assets, including works of art, sports collections, and videos, to name a few. NFTs can be bought and sold, just like physical assets. And because it runs on the blockchain, a decentralized digital registry can be tracked that documents the transactions, ownership, and validity of the asset that NFTs represent.
In February, an NFT clip showing a LeBron James dunk sold for over $ 200,000 through Nap Top Shot from Dapper Labs, an online platform that sells NFT collection “moments” of popular players. And this was not just a unique situation – NBA Top Shot has so far generated over $ 230 million in sales, CNBC reported.
Although collectors have so far focused mainly on men’s sports, Ohanian predicts that the NFT market for women’s sports collections will be even larger.
“These markets are dominated by men at the moment. Women are undervalued, as they are in other markets, despite the fact that they have a much greater influence on the dollar,” Ohanian said. posted on Twitter, also pointing out that women control a larger share of consumer spending than men.
For example, he SAPS, “You’ve already seen the mimetic power” of Megan Rapinoe, a legendary American professional footballer.
“[W]if anyone in the US can invest in “Megan Rapinoe” shares? Ohanian asked. “Spoiler: going to the moon.”
Ohanian went on to note that the “billions we’ve seen so far in trading books” transactions on platforms like the NBA Top Shot and digital football collection platform Sorare “ignore half the world (for now),” not yet selling collections of in sports women.
Indeed, Dapper Labs is “actively building experiences for women’s sports,” says a CNBC company spokesperson for Make It, “including the WNBA.”
Sorare has similar plans. Ohanian is an angel investor at Sorare, and one of the “big projects” he is working on with the company is to put women’s football on the platform, a Sorare spokesman told CNBC Make It. At the moment, 18% of Sorare users are women, although the platform does not yet offer sports women’s collections, the company says.
Like Ohanian, investor Mark Cuban also predicts that the NFT market will disrupt the sports collection market, along with the art, music and film industry.
“This generation knows that a smart contract and the digital asset it reflects or a CryptoAsset is a better investment than using the old school, touching or feeling,” Cuban wrote in a January blog post.
Those who buy NFT-based collectibles are betting that the market will appreciate just like physical trading books. After all, “people WANT to celebrate their Superheroes, both men and women, and missing this opportunity will seem silly in 20 [years], “Ohanian posted on Twitter.
Check it out: The best credit cards for construction credit in 2021
Do not miss:
Disclosure: CNBC owns the exclusive off-network cable rights to Shark Tank.