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Sport

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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News

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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Money

Paris shoe store challenges customers to outrun pro sprinter

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A Parisian footwear boutique invites customers to partake in a unique and adrenaline-pumping shopping experience.

This audacious store, nestled in the heart of Paris, dared its patrons to steal a pair of shoes, all in good fun, provided they could outpace a professional sprinter.

Reports have emerged of this extraordinary stunt that combines shopping with a dash of track and field. The challenge was set by the shop as a marketing ploy, aiming to attract the adventurous and those in search of a novel retail encounter. The store employed the services of a pro sprinter, renowned for their lightning speed, who was ready to chase down any would-be ‘thieves’ on the spot.

The customers were offered a thrilling choice – take a leap of faith and try to outrun the sprinter, or purchase the shoes in the traditional manner. Those who dared to participate had their athletic skills put to the test, leaving bystanders in awe.

This daring initiative has sparked conversations around town, with opinions ranging from branding brilliance to potential risks involved. While it has generated considerable attention, many are questioning the wisdom of such an unconventional strategy.

Zeze, 29, is a French Olympian who’s current run of the 100-meter dash is under 10 seconds.

 

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Sport

Rafael Nadal’s Australian Open comeback after injury hiatus

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Tennis fans rejoice as Rafael Nadal, the renowned Spanish tennis maestro, is geared up to mark his return to the Australian Open

In 2024 after Nadal will return to the game after a year-long absence due to persistent injuries. The anticipation surrounding his comeback has been mounting, and enthusiasts are eager to witness his extraordinary skills on the court once again.

Nadal’s absence from the Australian Open in 2023 was a setback for both the tournament and his legion of fans. The ‘King of Clay’ has been nursing injuries, focusing on a rigorous rehabilitation regime to ensure he comes back stronger and more formidable than ever. His determination to overcome challenges and re-enter the tennis arena has been nothing short of inspirational.

The Australian Open holds a special place in Nadal’s illustrious career, and his return to the tournament is highly anticipated. Tennis aficionados are keen to witness whether Nadal can reclaim his former glory and compete at the highest level after his hiatus.

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