NFTs find their way back into reality
The Future. A new platform called The Grid wants people to redeem their NFTs for real-life products. The Grid creates NFTs of sports memorabilia, and then consumers earn points for selling their NFTs, which can then be used to redeem actual high-value sports items like an official jersey or a player’s sneaker.
Sports NFTs have been a hot conversation among traditional and digital collectors, and the hype has been building across many major sports leagues. A few of the highest-selling sports NFTs to date include:
- LeBron James Statue ($21.6 Million) that gives the owner exclusive non-commercial rights to photographer Kimani Okearah’s iconic photo of the NBA superstar.
- MLB Champions Brett Gardner ($21.28 Million), which grants the owner exclusive rights to New York Yankees center fielder Brett Gardner virtually.
- Rare Diego Maradona 2020-21 ($4.3 Million), digital trading cards from the soccer legend that soared in price after his death in 2020.
- Alex Morgan Legendary ($2.129 Million), celebrating the women’s soccer star.
Nostalgia meets NFTs
Some major sports artifact collectors are saying that while NFTs and the metaverse are an exciting way to engage fans, they’re extremely new and missing a sense of nostalgia. The Grid is unlocking a way to share sports artifacts with the masses while giving people the opportunity to cash out for some major sports collectibles.