Patrick Mahomes

The quarter back of the Kansas City Chiefs, Patrick Mahomes, has long been interested in NFTs.

Mahomes believes in the sentimental value of collectibles

In an interview with CNBC last year, he explained that when he was younger he was always a fan of sport, and he and his father both shared a hobby of accumulating collectibles of their favourite teams and of their favourite players.

He believes that this phenomenon will continue into the future, and in the digital world, as more and more people get involved with NFTs.

NFTs are the perfect instrument for collectibles, since they are quintessentially the same as a physical version, except that the very nature of being digital allows one to attach far more utility to them.

NFTs can be used by brands to issue collectibles (such as Mahomes likes to collect), they can represent part-ownership of Web3 native brands and communities (such Doodles and The Bored Ape Yacht Club.

Mahomes believes that this is very important, and it was certainly an important part of his childhood. He attaches a lot of sentimental value to memorabilia, and believes that there is a huge industry available in NFTs that can be capitalised upon.

Unlike the physical world, having collectibles in the form of an NFT means that they can be used more easily to integrate with and improve other aspects of the fan experience.

For example, it is far easier to automate discounts on ticket sales or on merchandise when all one has to do is connect their Metamask.

Not only this, but NFTs allow for communities of fans to mingle and interact with one another in a way hasn’t previously been possible. NFTs as avatars are more popular than ever and NFT-gated communities are also becoming much more popular.

NFTs can even be used as avatars in games and in metaverses, such as Tamadoge in the Tamaverse.

Mahomes is promoting the “NFL All Day” Video Highlights Platform

Mahomes has partnered with the “NFL All Day”, a company that sells NFT card packs to collectors. New packs are sold every week with different players, and range in price depending on their rarity.

Once cards have been acquired from card packs, people are free to trade them on the marketplace. It makes for a very seamless user experience and is a mass improvement on the days in which people would collect plastic cards from corner shops.

Other athletes entering the crypto space

Athletes and celebrities from across the board are entering the crypto space. Logan Paul and Mike Tyson are both public about their NFT hobbies and Khabib Nurmagomedov has been promoting collections of his own, alongside his friend Hasbulla.

However, not all athletes who enter the world of crypto choose to focus on NFTs. There are many, such as UFC fighter Ben Askren, who chooses to focus his time on Bitcoin. He does this since he believes that it offers him the highest property rights known to man, and NFTs cannot say the same.

Dapper Labs is one of the leading companies that is focused on bringing NFTs into the mainstream, and they aim to do this by leveraging a network of high-profile celebrities to promote the benefits of NFTs.

Dapper Labs has already worked extensively with NBA Topshot, and were the original developers of Flow – the blockchain that is now to be implemented into Instagram as part of a partnership with Meta.

The promise for Flow, celebrities, and social media to combine is a huge commercial opportunity: selling merchandise directly to fans is already an important industry, but the opportunity to sell digital collectibles that also have utility opens up a lot of doors for changing the fan experience, and allowing public figures to explore different revenue models.

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