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Dapper Labs and NFL Agree to Develop Football NFTs

 


Developer of NFTs and operator of the Flow Blockchain Dapper Labs has reached an agreement with the NFL. They plan to create an NBA Top-Shot style marketplace for digital football tokens and collectibles. This can be found in a report in the Sports Business Journal .

Sources for the magazine claim the deal makes Dapper Labs the second largest digital licensing partner for the NFL Players Associations. Number one is EA Sports with the Madden video game franchise.

Just like NBA Top-Shot, the new NFT marketplace will run on the Flow blockchain. The introduction is to take place during the current NFL season. It ends on January 9th.

A central component of the new project should be video content, as is also the case with the cooperation with NBA. NBA Top-Shot has sold $ 780 million in collectibles so far in 2021.

On September 22nd , Dapper Labs closed a $ 250 million financing round. The valuation of the NFT company then at 7.6 billion US dollars. That came shortly after Sorare, the NFT market leader in the sports industry, added $ 680 million to its value in a funding round. Overall the company is valued at $ 4.3 billion.

Not much is known about the details of the agreement between the NFL and Dapper Labs. However, it is believed that the new NFT marketplace should be largely comparable to NBA Top-Shot. However, the Sports Business Journal reports that the NFL plans to get involved in Dapper Labs. In addition, the agreement should also include a minimum guarantee and license fees.

The NFL first expressed an interest in NFTs in March 2021, when Brain Rolapp sent out a memo confirming that the NFL was in talks with potential partners for digital collectibles. In the memo, he asked the clubs not to make their own agreements without consulting the NFL.

Sports NFTs have proven popular with fans. The launch of NBA Top-Shot took place in October 202, and the daily sales volume on the marketplace reached nearly $ 48 million with only 45,000 users. Dapper Labs also announced that Top-Shot had generated $ 700 million in sales in the marketplace by May.

Some may argue that the NFL jumped on the bandwagon too late. A number of top US sports leagues now have their own blockchain-based products. Almost every soccer team in Europe has an NFT deal.

However, the NFL's decision to move into the NFT space with no rush puts the project in a stronger and more financially stable position. The league has spent time watching other launches and learning from others' mistakes. Waiting for market entry has also given the organization time to ignore unsuccessful projects and understand what types of NFT products are most likely to be successful.

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