NFTs have become most well-known as pieces of collectible digital art, from CryptoKitties to Bored Apes. But as creators continue to experiment with the applications of non-fungible tokens, the world of NFTs is growing more and more diverse and complex. Crystal Rose Pierce, the founder of Lighthouse NFT Smart Gallery in San Juan, joined Roundtable to discuss the next generation of NFT applications, from design to collectibles to sports.
Among the still-nascent NFT applications is the world of professional sports. Pierce anticipates NFTs becoming a bridge for fans to engage more intimately with the game.
“Right now, you can buy a portion of a video of your favorite sports team, like the dunk that they made, or the goal that they scored,” she says. “They’re selling those now as NFTs.”
The technology could extend even to the governance of professional sports. The popularity of fantasy football, Pierce notes, demonstrates fans’ interest in participating more intimately with their favorite teams. She foresees the blockchain, in the form of Decentralized Autonomous Organizations (DAOs), as a potential application for fan-controlled franchises.
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“You can raise endless amounts of money by doing a DAO system,” she says. “It's being able to use your NFT to be a member of this community, and then having a right to vote on what happens to that community. The most innovative thing that can happen to sports teams is decentralizing ownership.”
Watch the full discussion below:
Crystal Rose Pierce, Founder, Lighthouse NFT Smart Gallery