NFL is getting its own version of NBA’s Top Shot! NFL, along with NFL Players Association (NFLPA), inked a partnership with Dapper Labs to launch a Marketplace offering digital video highlights.
Dapper Labs is behind the success of OG Collectible CryptoKitties and is lauded for pioneering transforming moments into NFTs through Top Shot. With this, the company has hit a triple header because it just raised $250 Million last week and entered a similar deal to create NFT Collectibles for Laliga Soccer League.
What we Know So Far: Dapper Labs x NFL
NBA Top Shot is the poster child of how NFT projects can tap the non-crypto market. The Marketplace was able to attract NBA fans worldwide because the concept of buying NFTs mimics buying fan-favorite collectibles: basketball trading cards. So the idea of collecting legendary NBA moments using blockchain technology was an instant hit. By May 2021, NBA Top Shot was already celebrating more than 1 million registered users, Dapper Labs officials say.
So mirroring Top Shot, the unnamed project will allow fans to collect video moments from past or current seasons. Additionally, highlights will include moments from recent games, along with noteworthy plays from legendary players of the past. Ultimately, the partners aim to give the 300 million NFL fans the opportunity to own the game moments that matter to them and engage with the sport in a new way.
Joe Ruggiero, Senior Vice President of Consumer Products for NFL, shared that this move aims to address the clamor of the fans. He said, “From the Hail Murray to the Minneapolis Miracle, magic happens in NFL stadiums. As a league that continually raises the bar, we are proud that the NFL and NFLPA have chosen Dapper Labs to deliver for NFL fans worldwide the Moments they’ve been waiting for.”
The partners have not disclosed the specifics of the deal. However, this strategic move is undoubtedly a money-maker for the NFL. According to some reports, this deal will most likely make Dapper Labs the second largest source of digital licensing revenue for the NFL. In exchange, The NFL and NFLPA also received equity in Dapper Labs, so we know that the partners are in it for the long run.
NFL’s NFT Ban
This partnership explains why earlier this month, NFL temporarily prohibited all 32 teams from selling NFTs and sponsorships to cryptocurrency trading firms. Since this can affect the terms of the partnership with Dapper Labs. To defend the restriction, NFL said that they are developing an official strategy for crypto and NFTs.
The pivot towards NFTs is a big move for the NFL. The league has a reputation for being conservative. It is worth noting that it was the last major sports league in the USA to allow gambling and liquor sponsors. So it wasn’t surprising when it deflected NFTs and crypto since its speculative nature coupled with the controversies might be too bold for the traditional league. So NFT and NFL fans are welcoming this great news with open arms.
The partners will launch the platform before the end of the current NFL season in February 2022. For now, you can follow Dapper Labs for the latest news and updates.
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