Dapper Labs, the firm that created CryptoKitties and the NBA Top Shot is planning to launch an NFT marketplace for the NFL. The deal will include a minimum guarantee and royalties, besides equity in Dapper Labs to both the NFL and NFLPA.
According to the partnership deal, NFL and the NFL Players Association would receive equity. The Sports Business Journal reported the new American football NFT marketplace was likely to arrive before the end of the current season in January 2022.
Receive equity as part of NFL Dapper Labs deal
The NFL and the NFL Players Association will receive equity as part of NFL Dapper Labs deal. According to SBJ, the digital licensing revenue generated for the players’ union by the deal will be second only to what it makes from EA Sports, maker of the famous “Madden” video games.
The NFL Dapper Labs’ deal’s digital licensing revenue generated for the players’ union will be second only to what it makes from EA Sports, maker of the famous “Madden” video games. The NFL Dapper Labs deal will be similar to the lucrative NBA Top Shot NFT platform. The new platform will allow users to buy and sell trading card-like NFTs of NFT sports highlights.
A dedicated hard-core fan base across North America
Media reports indicate that Dapper Labs secured a $250 million funding deal earlier this month. That brought the start-up’s total valuation to $7.6 billion after the firm raised another $305 million earlier this year. Commenting on the deal, Dapper Labs’ head of partnerships Caty Tedman said:
“When I think about the NBA vs. the NFL, the NBA really blaze a trail in a lot of ways, and they’re willing to take some risks […] if you think about the NFL, they don’t always do it first, but they try to do it best. So learning from the NBA is very much in their playbook. When we think about the kind of products that we would build with other partners, we think about customizing it for those fan bases.”
With the NFL boasting a dedicated hard-core fan base across North America, Dapper Labs will have to move fast to take advantage of the current season. The new NFL Dapper Labs contract could become a serious growth driver for Dapper Labs as it will add a new feather to its growing NFT list. The list of sports-related NFTs includes NBA, WNBA, and LaLiga.
Tom is a freelance writer with over 10-years’ experience in content creation, blog writing, and SEO specializing in the blockchain and cryptocurrency niche. As a philosophical figurehead, he believes that to make our world a better place, we must invest in incorruptible products and procedures, of which Bitcoin and other cryptocurrencies are leading examples.