The National Football League (NFL) has announced the launching of a brand-new non-fungible token (NFT) collection featuring some card-themed collectibles that will represent players in the league’s upcoming draft this week.
The new series, dubbed the 2022 NFL Draft NFT collection, will be available on the NFL’s NFT marketplace, established in November last year and powered by Polygon. The NFTs will be marketed for $52 apiece as a starting price.
Since then, the league has utilized the site to announce and promote ticketing events for playoff games. According to the NFL, a limited number of NFTs will be distributed or airdropped to the Inner Circle club members, an exclusive group of fans who were pre-selected to represent each participating team on selection night on Thursday.
Since its inception on Polygon, the NFL claims to have distributed over 500,000 NFTs related to ticket purchases. Approximately 42 percent of these, or 210,000 automobiles, have previously been engaged with and operated by their owners. The league also stated that these figures only include NFTs that were given away for free and that interest in NFTs among NFL fans is still great, with NFTs issued for public sale selling out within 24 hours of their release.
Even though the collectible ticketing platform is still in its early stages of development, NFTs have sold successfully, with some pieces fetching over a thousand dollars apiece. More well-known NFL clubs have settled on a price range for their NFTs, with components ranging from $300 to $600 apiece.
One of the NFL’s many initiatives for conquering the expanding NFT market is a relationship with Polygon. The league is also working with Dapper Labs to produce NFL All Day, NFTs based on in-game “Moments” caught on film and minted on the Flow blockchain. Aside from that, the league’s players association (NFLPA) is working with some cryptocurrency ventures, including DraftKings, a crypto sports betting site, and Upland, a metaverse game platform.