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NFL Releases 2022 NFL Draft NFT Collection On Polygon

NFL Releases 2022 NFL Draft NFT Collection On Polygon

The National Football League (NFL) has announced the release of an all-new non-fungible token (NFT) collection with a series of card-themed collectibles representing players for its upcoming draft this week.

Dubbed as the 2022 NFL Draft NFT collection, the new series will be live on the NFL’s NFT marketplace built on Polygon, which was launched in November last year. The NFTs will be sold with a starting floor price of $52 each.

The league has since used the platform to release and promote playoff game ticketing events. According to the NFL, this latest series of NFTs will also be handed out or airdropped to a select group of members that belong to the Inner Circle club, an exclusive group of fans that were pre-selected to represent each playing team on Thursday’s draft night.

According to the NFL, it has released over 500,000 NFTs linked to ticket purchases since its launch on Polygon. Of these, roughly 42% or 210,000 cars were already interacted with and used by their respective owners. The league also said that these numbers only represent those NFTs which were given out for free, and that engagement for NFTs among NFL fans remain high, with NFTs released for public sale were sold out within a mere 24 hours of launch.

While the ticketing collectible platform is still in an early phase of development, NFTs sold through it have turned out well, with some pieces going for over a few thousand dollars each. More popular NFL teams have stabilized pricing on their NFTs, with pieces ranging between $300 and $600 each.

NFL's partnership with Polygon is among its various strategies for capturing the booming NFT market. The league also has a concurrent partnership with Dapper Labs, with which it collaborated to launch NFL All Day, which are NFTs based on in-game "Moments" captured on video and minted on the Flow blockchain. Aside from the this, the league's players association (NFLPA) has concurrent partnerships with several crypto projects such as DraftKings, a crypto sports-betting platform, and Upland, a metaverse game platform.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

 

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