Application of Non-Fungible Tokens (NFTs) in sports

Non-Fungible Tokens (NFTs) play a significant role in the sports industry. NFTs are unique data units recorded on a permanent ledger, or blockchain. NFTs emerged in 2017 and have presented new opportunities for digital collectibles and revenue streams. The purpose of this study was to identify the applications of NFTs in sports.
This was an applied-qualitative study using a thematic analysis approach (Brown-Clark model). The statistical population of this research included university professors in the field of physical education and blockchain technology experts. The statistical samples were identified through a purposive sampling method. After conducting 16 interviews and reaching theoretical saturation, 13 interviews and 21 articles were selected as research tools. Validity was assessed using the trustworthiness and transferability methods, while reliability was evaluated using the intra-subject agreement method, which reported a consensus rate of 81%.
The results led to the extraction of four main categories: Functional and Collectible Tokens, Ticketing and Access Control, Athlete Empowerment, and Fantasy Sports, which included 7 subcategories and 29 sub-subcategories.
In line with technological progress, NFTs will become a key part of the sports industry. NFTs can play a major role in how fans interact with sports, how athletes monetize their brands, and how organizations manage their digital assets. Increased fan engagement, new revenue streams, new experiences, and enhanced security of sports events will make NFTs a reliable technology. With the maturity of the technology, it is expected that we will see more creative and impactful uses of NFTs in sports