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Announces Partnership Launch Start 2022-23 Season

NHL ANNOUNCES NFT PARTNERSHIP SET TO LAUNCH AT START OF 2022-23 SEASON

JUN 23, 2022  (12H05)      JON
Non-fungible tokens or 'NFTs' exploded onto the scene during the historic bull market for cryptocurrencies in 2021. Bitcoin, Ethereum, and hundreds of other projects saw their valuations reach unprecedented heights, only to come crashing down in what is referred to as 'crypto winter.' Often the subject of ranging criticisms, there is more speculation than certainty over NFTs & related cryptocurrencies. However, ask those who have been in the game for the better part of a decade & they will tell you with whole-hearted conviction that this technology will play a massive part of the future.

Sports memorabilia & collectibles has been a thriving business for decades, and NFTs will enable proprietors & collectors alike a means of authenticating, showcasing, and, of course, distribution with lightning speed. NFTs will alter the industry forever.

The NHL, NHLPA, & NHLAA today announced a 'groundbreaking' partnership with NFT marketplace Sweet:


Per the release, "The Sweet-operated NHL marketplace will focus on providing the entire community of NHL fans and collectors with a unique and valuable engagement experience through the opportunity to buy, sell, collect and trade never-before-offered pieces of NHL history."

It is also mentioned that Sweet will develop a custom-built platform to showcase & distribute a variety of historic NHL moments. For example, Bobby Orr's 1970 Stanley Cup winning goal:

image

Memories like this will be digitally imprinted & distributed in the form of an NFT collectible. One cool feature of NFTs is, well the non-fungibleness. Impossible to steal, duplicate, or otherwise copy, NFTs of the NHL's greatest moments will surely represent a fun, engaging way for fans & collectors to possess a chunk of history. Furthermore, since the technology is so speculative, now is a great time to involve one's self as the value of these things can be incredible.

Take, for instance, the Bored Ape Yacht Club NFTs, which have sold for as much as $2.2 million. Now, it remains to be seen if that type of value is to be extracted from a single NHL NFT, but there is certainly a pretty penny to be earned. So between the dollar value of the NFT deal & the fan-engagement, this deal with Sweet could prove to be a lucrative opportunity for the NHL.
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