Wednesday, February 28, 2024

According To Dapper Labs, Professional Sports Leagues Are No Longer Rejecting NFTs

The head of partnerships of Dapper Labs mentioned that pro sports leagues are accepting NFTs due to the unprecedented growth of the sector this year.

The head mentioned that professional sports leagues do not have qualms about exploring NFTs or non-fungible tokens as the sector is popular now.

Change in the stance of pro sporting organizations

Caty Tedman, the head of partnerships at Dapper Labs, was participating at the All Markets Summit organized by Yahoo Finance. The head says that there has been a sudden shift in the stand of pro sporting organizations concerning NFTs amid the booming rise of the sector in early 2021. Tedman mentioned that there is a dramatic shift in the conversation. She added that she encountered little resistance to NFTs these days.

Dapper came up as a front-runner in officially licensed nonfungible assets after launching NBA Top Shot in 2020. Since then, the firm has partnered with many other leading sports franchises such as the NFL or National Football League and the WNBA or Women’s National Basketball Association.

Tedman also spoke on the initial discussions that took place between Dapper Labs and the NBA. She recalled that the firm had apprehension about how NFTs have not been in use for sports merchandise.

She recounted that they had to spend quite some time with people in finance and lawyers at that time discussing the possibility of secondary revenue. Tedman also stated that they were fortunate. To begin with, the NBA as the associate Vice President of the organization Adrienne O’Keeff was not averse to the idea of exploring NFTs.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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