The world of sports has seen a significant rise in the popularity of Non-Fungible Tokens (NFTs), with renowned athletes like Tom Brady becoming prominent figures in this digital marketplace. Just before the Super Bowl, a notable NFT featuring Brady was sold for $40,000, showcasing the increasing interest and value placed on digital collectibles within the sports community.
Dapper Labs, a well-known blockchain company in the NFT ecosystem, has brought back the phenomenon of NFTs ahead of the Super Bowl. Reports suggest that the creator of the NFT is using the event to promote promotional drops associated with the major athletic event.
The web3 firm’s sports-themed digital collectible brand, NFL All Day, released promotional packs of NFTs during the professional football league’s playoffs in January. This move has contributed to the collection’s success, with high-profile sales such as the NFT featuring Tom Brady selling for over $40,000. Another NFT featuring quarterback Aaron Rodgers also fetched $34,000.
Dapper Labs has reported approximately $10 million in sales since the NFL regular season began in September through its open marketplace for digital memorabilia of video highlights.
The growing momentum in Dapper Labs’ promotional activities suggests their intention to capitalize on America’s biggest sporting event. The Super Bowl, taking place in Las Vegas, features the San Francisco 49ers against the Kansas City Chiefs, and is considered an annual marketing opportunity in the United States.
Dapper Labs has also created NFTs depicting historic moments in the careers of legendary Super Bowl-winning quarterbacks, such as Joe Montana and John Elway. In addition, the company has enlisted the help of two Hall of Fame inductees to promote these digital collectibles.
Interestingly, Dapper Labs, Montana, and Elway have avoided using the abbreviation “NFT” when promoting their collections. During the crypto downturn, the term developed a negative connotation for some individuals.
Dapper Labs’ success in persuading sports icons to promote their digital products, which are minted on the Flow blockchain, can be seen as a victory in the Web3 space.
Reportedly, several companies that have secured commercial slots for the Super Bowl in 2024 are unrelated to financial technology, indicating a shift away from AI and crypto entities. The focus of advertising during Super Bowl LVIII is expected to be on “fun, humor, and entertainment,” according to Paul Hardart, a marketing professor at New York University.
Crypto entities like FTX, eToro, Crypto.com, and Coinbase aired ads during Super Bowl LVI in 2022. However, the absence of crypto ads in 2024 signifies a notable change.
The upcoming game is expected to attract a large viewership, partly due to the presence of singer-songwriter Taylor Swift, whose partner Travis Kelce plays for the Chiefs. Beauty firms like NYX and e.l.f. have also purchased ad slots to target the younger female audience who are fans of Swift.