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Sports teams want a slice of the NFT market

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NFTs are already booming in the art and music world; there were reportedly $416m in NFT art sales in January and February this year. Now, Australian sport wants to get in on the game

For more we’re joined by Mat Cole from ACT Capital Partners

Non Fungible Tokens (NFT) are a unit of data on the blockchain that proves ownership of a digital asset such as a photo, video, or other digital file. They represent an asset with a unique identifier that can be sold or traded.

During the first quarter of 2021, sales surpassed $2 billion.

A NFT of a LeBron James dunk video sold for US$375,000 last year. The Top Shots series, which the video was a part of, totaled US$500 million in trades and sales in the first three months of 2021.

Now the National Basketball League, Melbourne Victory, and Golf Australia are some of the sporting organisations investigating how to enter the market.

Sporting organisations aren’t the only ones posed to make money in the NFT market.

Mat Cole, from ACT Capital Partners, said that athletes can make money from Non Fungible Tokens (NFT), but the secondary market for them can be even more lucrative.

“If you’re an athlete, and someone approaches you to do an NFT deal with you, you might get 100 grand upfront,” Cole said.

“What you have to be understanding of is if there is a secondary market for that NFT and you’re not a part of that, you could be missing out on 100 times what you’ve been paid up front, provided that NFT has a secondary market.”

Secondary markets include people trading NFTs after buying them to other people.

Cole argues that not all NFTs will prove profitable for traders, and people wanting to buy or trade them in a secondary market is important in ensuring that the asset doesn’t lose value.

“Is that NFT is going to be traded at a high volume after it’s initially been printed? If not it’s going to be worth $100 today and 20 cents tomorrow.” Cole said.

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Chiefs secure back-to-back Super Bowl titles against 49ers

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Will Patrick Mahomes be hailed as one of the greatest quarterbacks in NFL history? 

The Kansas City Chiefs emerged victorious once again, defeating the San Francisco 49ers 25-22 to claim their second consecutive championship.

The high-stakes game kept fans on the edge of their seats as both teams showcased exceptional skill and determination.

The 49ers, known for their strong defence, put up a formidable fight, but the Chiefs’ offensive prowess ultimately proved too much to handle.

STAR PLAYER

Quarterback Patrick Mahomes led the Chiefs with a stellar performance, showcasing his prowess with strategic passes and crucial touchdowns.

MASTER CHIEFS

As the confetti rained down on the Chiefs, celebrations erupted both on the field and among fans worldwide, marking another historic moment in the team’s legacy.

With this victory, the Chiefs solidified their status as a dominant force in the NFL, leaving fans eagerly anticipating what the future holds for this powerhouse team.

The Chiefs join the Pittsburgh Steelers of the 1970s, the Dallas Cowboys of the 1990s and New England Patriots of the 2000s and 2010s as the only NFL teams to have won three Super Bowls in a five-year span.

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Sport

Amazon targets bankrupt Diamond Sports for streaming rights

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Amazon considers acquisition of Diamond Sports as part of its plan to expand streaming portfolio

Sources suggest that Amazon is eyeing the streaming rights for major sports leagues including MLB, NBA, and NHL, signalling the tech giant’s strategic move into the lucrative world of live sports broadcasting.

The potential deal with Diamond Sports would provide Amazon with a significant foothold in the sports streaming market, allowing the company to offer a comprehensive range of live sports content to its Prime Video subscribers.

This move aligns with Amazon’s broader strategy to diversify its entertainment offerings and attract a wider audience. The acquisition of streaming rights for popular sports leagues could make Amazon a major player in the competitive streaming landscape.

Industry experts speculate that Amazon’s interest in Diamond Sports is driven by the desire to capture the growing market for live sports streaming, a segment that has gained immense popularity in recent years.

The acquisition would not only give Amazon access to a vast library of sports content but also position the company as a formidable competitor to traditional broadcasters in the live sports broadcasting arena.

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Disney’s sport streaming goals

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Disney’s ESPN may achieve a $24 billion valuation; potential suitors could involve Apple and Verizon.

In a recent financial report, Bank of America suggests that Disney’s ESPN could be on the verge of reaching a staggering $24 billion valuation. This eye-catching figure has sparked interest from potential buyers, with technology giants Apple and telecommunication leader Verizon being touted as likely contenders.

The valuation surge is attributed to ESPN’s successful digital transition, with streaming services, exclusive sports content, and expanding international markets contributing to its growth. Disney’s acquisition of 21st Century Fox’s sports networks further boosted ESPN’s portfolio, making it an attractive asset for prospective buyers.

Apple, known for its foray into content creation with Apple TV+, could leverage ESPN’s sports content to expand its media empire. Meanwhile, Verizon, with its vast telecom infrastructure and distribution capabilities, could use ESPN to enhance its content offerings and engage a broader customer base.

This development marks a pivotal moment in ESPN’s history, and its future owner could redefine the landscape of sports broadcasting. As the valuation continues to climb, all eyes are on the potential suitors and the ensuing negotiations.

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