Are you a collector of sports cards? If so, you may want to try the new blockchain-based sports card, known as a sports card NFT. This new form of collectible is quickly gaining popularity, and you can now purchase and trade digital assets with other collectors. There are many benefits to this new technology, but you should know what you’re getting yourself into first. Here are some things to consider when buying or trading sports cards.
On this episode of Red Cape Sports, Mitch and Bird talk about how NFTs and blockchain impact the sports cards community!
The technology is being embraced by fans and businesses. Fanatics, for example, has a background in e-commerce and marketplaces. As more consumers adopt NFT, other areas will follow, including betting and gaming. While a greater divide may not be what collectors want, this innovation is enabling fans to display their hard cards online in new ways. It’s worth noting that a new digital platform has made collecting sports cards a much easier process.
The blockchain allows NFTs to be verified as genuine by using a public record. It is impossible to alter data in the blockchain, thereby preventing fraudulent transactions. The blockchain also makes it possible to trace a digital sports card’s provenance. Additionally, an NFT can be embedded with an image or video clip. Some NFTs may contain credentials for a physical asset, such as the player’s name and number.
The first NFT was created by collectors of baseball cards and then later adapted to digital sports collectibles. But the NFT market is still in its early days. Some say that it’s too early to say for sure how this industry will evolve, but one thing is certain. It will be tied to the pandemic-era boom in traditional cardboard card trading. But it is worth remembering that a new version of a sports card may be in the works.
Another popular sports card NFT marketplace is Due Dilly. Due Dilly helps sellers and collectors understand the current market value of sports cards. It also offers real-time pricing data. If you’re unsure how much to pay, Due Dilly can guide you. It takes less than an hour for athletes to complete the process, and the company plans to roll out new player cards every month. If you’re a collector, consider buying a sports card NFT.
The second most popular NFT game is Sorare. This fantasy game combines card collecting and trading. The platform uses the Ethereum blockchain to allow players to use digital wallets and normal currency. You can buy different kinds of soccer cards on Sorare. You can even purchase limited editions that can sell for a high price. You can also buy NFTs of different players. There are a number of ways to earn ETHs from these games.
In addition to NFTs, you can buy physical cards with virtual ones. This type of collectibles is gaining popularity among investors and collectors. There are some disadvantages, but if you think about it, sports card NFTs are definitely worth checking out. You can also earn a lot of money by selling them. But NFTs are not for everyone. So you should be careful and look for a good investment before you buy any physical cards.
