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Snapshot: Let’s Talk About NFTs By Fayre Labs

So what is an NFT?

NFTs are opening up new opportunities in the sports industry, as they are a great way for fans to engage with their favourite teams. But, what is an NFT?

NFT stands for Non-Fungible Token. Each NFT represents the ownership of a unique piece of digital property as a token. These tokens exist on and are secured by a blockchain to be resilient against theft or copy attempts. There are no two NFTs that are exact equals of another. Even if 100% of one NFTs’ contents are copied into another, it will never be original.

People have always loved owning sports collectibles, and now NFTs offer a new, digitised and more trusted way to do so, providing benefits that are not limited to the physical world.

We are just starting to discover the possibilities that NFTs can offer sports. In the next deliveries we will explain some of these early use cases.

As fans and athletes and their organisations connect, the more opportunity there will be for further innovations. NFT drops and NFT trading cards are a great start, but who knows where the technology will go as metaverse and Web Integrations enter the arena too.”

Fayre is a global multi-chain marketplace and dashboard for brands and fans. They are a partner of the upcoming iSportConnect Web3 Summit presented by Tezos. Fayre are passionate about bringing NFTs to a wider audience. They are on a mission to change the way brands and creators interact with their fans.

Part NFT marketplace, part fan activation hub. They make tools that allow creators and brands to establish and manage fan clubs, which gives NFTs unlimited function & purpose in real life, online and in virtual worlds.

Get your tickets now for the iSportConnect Web3 Summit, available at our Early Bird price of £699 here >


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