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NFT Sports

Arsenal Launches NFT Project to Expand Global Following

As professional sports get more involved in the NFT, Premier League giant Arsenal is the latest to announce a project in an effort to bring its global awareness to the forefront.

The Gunners and Chiliz have partnered on the project and are releasing the $AFC Fan Token on Socios. The two plan to utilize the tokens so that global supporters can engage in unique club opportunities, including interactive games that can earn fans unique experiences.

Arsenal has been in the public eye recently as the club expands its presence, most notably being named the latest team to appear on Amazon’s All or Nothing docu-series.

Socios is already home to a number of other football clubs around the world, including Barcelona, Paris Saint-Germain and Valencia, as well UFC and Roush Fenway.

My Arsenal Rewards members have the choice to receive a free $AFC Fan Token before the official launch date.

“Socios is leading the way in blockchain in the sports industry, as we have seen from their relationships with other leading European clubs,” Arsenal commercial director Peter Silverstone. “When we launch the $AFC Fan Tokens together, we will give our hundreds of millions of fans worldwide more opportunities to interact with the club and be a part of our global family.”

Chiliz served as one of the creators of Socios in an effort to make sports organizations more accessible and engaging for supporters on the blockchain.

Arsenal kicks off the 2021/22 Premier League season on Aug. 13 against Brentford.

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Entrepreneurs Grind

GaryVee Talks To Pro Athletes About How to Make An Impact

If you saw the “30 for 30″—then you already know the story.

“By the time they have been retired for two years, 78 percent of former NFL players have gone bankrupt or are under financial stress; within five years of retirement, an estimated 60 percent of former NBA players are broke.”

Former Tennessee Titan, Derrick Morgan, is looking to change that.

Last Friday, Morgan spearhead a financial conference called “I AM Nation.” It included guests speeches from the likes of Gary Vaynerchuk and Anthony Pompliano.

“Life is only about access. And the great mistake of athletes is not going aggressive enough, to make relationships in the cities where they have played,” Vaynerchuk had to say when speaking at the event, emphasizing the need for personal connections.

In addition to increasing financial literacy, Morgan, and a slew of other current and former athletes, are hoping to also make an impact. They’ve laid out their priorities as capital, community, and culture.

When players are in the primes of their career, financial strategy and investing are rarely discussed in the locker room. The event was made to provide a forum for players to learn, network, and open that conversation.

The “I AM Nation” group has put together quite the team. The roster includes Josh Childress, Byron Jones, Stephen Tulloch, Winston Justice, Justin Forsett, EJ Manuel, Vincent Fuller, Kevin Byard, and Spencer Paysinger.

These players’ backgrounds are all different. Some of them have already dabbled in entrepreneurship and others are just getting started. Either way, their involvement is helping diversify the investment space.

At the event, the conversations revolved around NFTs, real estate, cryptocurrency, and stock trading. Each subsection was given a speaker dedicated to providing valuable information for the group.

“[Athletes] are playing in real cities, with real die-hard fans. Football is one of the great passions of our society.  And because of that passion, you can access some really influential people, who will take a meeting with you, who will say yes to doing business with you” Vaynerchuk emphasized.

The event united the focuses of Morgan’s vision, by bringing capital, community, and culture together.

Categories
NFT Sports

NFTs and Injuries, Lamelo Ball Wins Rookie of the Year

They say “Pikachu can’t tear his ACL.” It is what separates non-sports assets and sports assets. When investing in the sports NFT world, you are banking on a player’s health. 

You look at the last week in the NBA and the playoffs have been decimated by injuries to some of the league’s biggest stars. 

Predicting injuries is impossible. But factoring in this concept of, “what if this player tore their ACL? How would it impact their career?” can be incredibly important in deciding where you want to invest your money in the NFT landscape.

With the Kawhi Leonard news, it’s incredibly disappointing, but most likely, it won’t impact his career arc. Can this be said for some of the younger players who have yet to establish that tenure in the league. 

Even the rookie of the year, Lamelo Ball was dinged up for a small portion of the season. It almost cost him the rookie of the year. 

Speaking of Lamelo, the youngest Ball brother dropped an NFT collection a few weeks ago. And with him winning the prized accolade, it will be included in his NFT series.

Investing in players’ whose careers are already somewhat established can keep you safe from the always possible threat of injuries. 

And if you want to completely avoid the threat of injuries, you can always look to non-sports related NFTs. 

Whether it be a meme, digital art, and digital horses. 

There are risks in other NFTs. An artist can be canceled for things they say. Artist’s careers are not guaranteed either. Decentraland could become the preferred landscape of the metaverse over Sandbox. All of these could impact the value of a non-sports NFT.

I’m not saying that there is necessarily a better NFT group to be invested in. I just want people to understand the importance of weighing all of these different factors that go into it. 

Categories
NFT Sports

NFTs Are NOT Dead, According to Jack Settleman

I Promise… NFT’s Are Not Dead

I’m not sure people understand how early on we are in this NFT movement. 

The total Top Shot market cap is at 605 million dollars. 

At one point, it was over a billion dollars, so naturally, people are showing concern.

Did I mention that we are early?

Clearly, the public perception is that NFT’s are dead. But I am here to tell you they are not. We are seeing a pullback. We are seeing similar reactions to the dot.com era, where 99 percent of websites failed. But the one percent that survived (Amazon, Google) became monsters. 

Quick reminder, we are early. 

What is important is that NFT’s, celebrity cash grabs are gone… which we’ve been saying. But the tech of NFT’s is going to be the thing of the next decade. As of now, all people know are the youtube clips they are watching. But we are still so early, people don’t understand what this wave can be.

The general idea from Top Shot fans is that it re-engaged them with the NBA. Who captures your attention? That is what matters. The MLB does a terrible job with it. The UFC is making a Dapper Labs product… and is asking you to pay for the viewing experience and give them your time. With the NFL, they own Sunday and Monday… but even our generation watches RedZone. Once again, the tech and utility of NFT’s are an attention and engagement capture. 

Over the next decade, the competition will be over people’s time and attention. 

To finalize things, we are super early in this. It could be five years before we see the fruits of NFT technology.

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NFT Sports

Looking at the NBA Top Shot Market Before the Playoffs, with Jack Settleman

With the NBA Playoffs right around the corner, I think this is a good time to look at the NBA Top Shot market. 

Finally, it appears that the market has stabilized. 

Obviously, it came out guns blazing. But then a market correction did happen. It feels like this is the first time where we are seeing some stability. This doesn’t mean that the prices won’t drop, but it does mean that the days of a 10 percent decrease a day are most likely over. 

Since the market was crashing, what have we seen?

  1. Users have now seen access to withdrawals, which was an early that we addressed in the first couple of Top Shot blogs. 
  1. Dappers also made a lot of new hires, some coming from the NFL. The emphasis seems to be on building out the business with high level marketing members and having a strategic focus. 
  1. Top Shot has done a good job of responding to feedback. Whether it be the requirements on pack drops or removing bots from the release pool. Listening to the community will be massive for Dapper and even though it is early in their career span, they’ve seem to be receptive to feedback. 
  1. A new “King” has come forth in the NBA sphere. “Dingaling” has quickly become one of the more invested consumers of the Top Shot community. In the last few weeks, he has risen to the top ten most valued moment ranks. The “King” came in and purchased these moments “off-market” which factored into his large investment. 

I also have some thoughts/predictions about the market as the playoffs roll through… so let’s take a glance into the crystal ball.

Buy the rumors, sell the news.

Let’s say you think the Bucks will have a great playoffs. And you decide to invest in Giannis, Middleton, and Holiday…

BE PREPARED TO SELL. I do think the market will react to player performances so don’t be afraid to sell just a pinch earlier than you think.

Don’t overthink about who matters.

Don’t get fancy with Joe Harris. Stick to the basics. Buy Durant. Buy Harden. Buy Irving. The odds of a non-superstar becoming the face of a team are remarkably unlikely. Andre Iguodala winning the finals MVP is HIGHLY unlikely and shouldn’t be your model.

Avoid FOMO.

While the playoffs are the most electric time of the year… you don’t need to “FOMO” in. There will undoubtedly be a market dip during the off-season, and the NFL will ramp up. Again, this is no different than the sports card market. Keeping that cash in hand for a few months from now is not a bad idea. Once the season ends, I expect a market dip. 

Categories
NFT Sports

DeVonta Smith’s NFTs Offer Unprecedented Access, According to Jack Settleman

When DeVonta Smith’s name is called during the NFL draft, history will be made. Smith plans on minting that moment of him getting drafted and selling it. It is just another addition to this incredible NFT wave. 

This will be part of a series of NFTs that Smith intends on dropping. The series includes highlights from college, digital art pieces featuring his Heisman Trophy, and digital cards capturing iconic moments of him during college.

Smith was a standout wide receiver at Alabama. Last season, he reeled in 117 catches and found the endzone on 23 different occasions. He led the NCAA in both catches and touchdowns scored.

When Alabama defeated Ohio State in the National Championship, Smith was voted MVP. In the first half alone, he had three touchdowns and 215 yards.

But Smith’s involvement in the NFT world won’t stop on draft day. The Heisman Trophy winner plans on engaging with his fans by creating “Smitty Coins.” Fans will be able to use those coins in a variety of unique ways to get exclusive access to Smith. 

Here are the things you can do with “Smitty Coins”: 

  • Play video games with Smith
  • Facetime with him 
  • Dinner
  • MNF Watch Party
  • Go to a game and meet with him on the field 
  • Signed gear and memorabilia 

Previously in these blogs, I have talked about all of the celebrities trying to capitalize on this wave. However, some of their efforts have fallen short and been clear cash grabs. With Smith, though, that doesn’t seem to be the case.

Smith appears to understand the NFT community and wants to provide utility to any of the buyers of his products. From what we know, he is entering the space in the right way. Smith’s focus seems to be in the long-term and not as a short-term way to make a quick buck.

Hallelujah.

Categories
NFT Sports

Jack Settleman’s Thoughts on the Current NFT x Celebrity Landscape

If you wanted to make a quick cash grab with NFTs, that ship has sailed.

Being first in NFTs is over. 

If you’re an athlete or celebrity who wants to cash in on the NFT craze… I’m here to tell you, you missed the boat on being first. 

Over the last few weeks, we have seen a ton of athletes and celebrities jumping into NFTs. They want to create their own and snag a quick buck. They normally collaborate with someone, but it is owned by them.

I don’t blame people for hopping in. If I could release an NFT for a million dollars today, I would. But I truly don’t believe the short term mentality will win. 

If you want to separate yourself from the others, you will need to do more.

Those who are thoughtful about community, access, and technology will win in the long term. 

If a celebrity wants to release a digital sports card, at least make it cool. You need to make it a cool piece of art. Just making one for the sake of making one won’t cut it anymore.

AGAIN – I WANT TO CLARIFY – I GET IT. 

If I could make a quick buck right now, it would be awfully tempting. 

But those going for the quick cash grab are very obvious.

However, I think there is a way to enhance the art. 

The next step would be to create value by offering access and adding to your community. If you own 1/50 NFTs that I release, I will follow you on IG. Or I will give you a signed jersey. 

Let’s continue to go to the next level.

If you grab one of Post Malone’s digital cards, he could offer you backstage access to his concerts. That way, it comes with a community engagement dynamic.

One thing I feel passionate about is that consumers are too good at seeing through the bullshit. The hype of your favorite athlete coming in is starting to settle. It has become clear that people can tell if you are trying to build community or if you are trying to cash out. 

That is why these cash-outs are coming to a halt.