VOC Explained

Sports NFTs: How to Get in the Game

Jim Haastrup

If you're a fan of sports, you know that there's nothing quite like collecting memorabilia from your favorite players and teams. This blog post will discuss the exciting world of sports NFTs (non-fungible tokens). We'll show you how to get started in this exciting new market and give you tips on how to trade with the pros!

What are sports NFTs?

A type of cryptocurrency quickly gaining in popularity is an NFT or Non-Fungible Token. Unlike traditional cryptocurrencies, which can be divided and traded like shares of stock, NFTs are unique digital assets that cannot be replicated, making them perfect for representing rare or unique items, such as sports memorabilia. 

Sports fans have been collecting memorabilia for years, but the advent of blockchain technology has made it possible to take this hobby to a whole new level. Now, you can collect physical items like autographs and jerseys and own a digital representation of these items stored on the blockchain. In addition, this allows you to trade your digital assets with other collectors, similar to how you would trade physical items at an auction house or flea market.

How to get started?

The first thing you need is an account on a marketplace that supports NFTs. There are many platforms, but we recommend starting with OpenSea because it has the largest selection of sports-related tokens available right now. The process of creating your account is pretty straightforward: go to the website and follow their instructions for signing up. Then log in, go to "My Account," then select "Deposit Funds." Here you'll be able to link your bank account so that funds can be transferred directly into your wallet balance when needed (this feature may not be available in all countries).

Once your account is set up, you'll need to buy some tokens. The easiest way to do this is by using the "Buy Tokens" page on OpenSea. Here you can search for specific tokens by name or symbol or browse by category. You can also use the "Marketplace" tab to find auctions and listings of NFTs that are for sale.

How do you trade with the Pros?

Now that you have some tokens in your account, it's time to start trading! One of the great things about blockchain-based markets is that they are global and open 24/24 hours a day. It means that no matter where you are in the world, you can always find someone interested in trading with you.

To start a trade, just go to the "Trades" page on OpenSea and click on "Create Trade." You'll then be able to enter the details of your trade. Be sure to include the following information:

  • The name of the token you are trading
  • The quantity of tokens you are offering
  • The price per token you are asking for
  • Your contact information (email or username)

Once all of the details are entered, hit "Submit" and wait for a response from the other party. When both parties agree upon the terms of the trade, funds are transferred, and the transaction is recorded on the blockchain.

We hope you enjoy this introduction to sports NFTs! Be sure to check out OpenSea for the latest listings and news in the world of blockchain-based collectibles. Thanks for reading!