Lots of clubs are already minting their “official” NFT’s and fleecing their own fans in the process. Sadly (or fortunately), that market seems to have hit a wall.
you would hope to think so...i hate the concept of NFTs too...
but google searches don't always tell the whole story.....
NFTs are morphing into different forms, and they no longer exist as a bunch of silly jpegs only, with pics of apes on them...take for instance, Stepn...the first move-to-earn game/token/i-dunno-what-to-call-them-really....where you actually get paid to exercise (move)...where the objects in the game (shoes in this instance) are minted as NFTs, and to get paid more, you'd have to buy these NFTs (like your traditional in-game app purchase)....basically, another way of looking at it is...more and more companies see the value of gamifying their business models and NFTs simply represent the digital assets of this 'game'. So for e.g., where you would earn Tesco points on your clubcard previously in web2.0, they now turn those points into something more fun, and more lucrative in web3.0, and thats where NFTs come in. It's pretty clever if you think carefully about it. And then they create an entire world for the whole ecosystem to exist together and that's called the metaverse. Takes awhile to wrap your head around it. Initially, i thought it was the most stupid and absurd idea ever - buying a piece of land in a virtual world for 100,000s of $$$, what a retarded thing to do....until i began to understand the business model...it sets itself up to print money faster and bigger amounts than tradfi could do...
That's why the big corporations and big tech are all investing heavily in web3.0. It's all about money really. Russia and Ukraine are good examples of where traditional finance (tradfi) fails, according to proponents of decentralised finance (defi/crypto). If a government decides to shut down their banking systems, everyone suffers. But it's a lot much harder to do that for defi, and that's why the russians and ukrainians are turning to crypto as their financial lifeline. But on the other hand, there's the huge challenge of terrorism, illicit financing and fraud to tackle....
Biden's recent executive order on cryptocurrencies is a very interesting one to watch, and it will set the future of how the world of finance will look like in a few years. And soon, the football industry will be affected and will have to adapt too, one way or another, and whether we all like it or not.