If the success of NBA Top Shot is any indication of how pro sports leagues can commoditize and tokenize the ownership of their media, then one of the most direct translations is with the PGA Tour.
Imagine if you held the keys to one of a select handful of original, tokenized, verified copies of the putt Tiger Woods made on a broken leg to force a playoff at the 2008 U.S. Open at Torrey Pines?
The closeness a die-hard Tiger fan would feel — along with the joy of owning a piece of history — could be priceless.
This type of digital certificate of ownership can best translate to the new-age autograph. A collectible piece of sports memorabilia with a star athlete’s signature can go for thousands of dollars on an auction site. With the technology that exists today, pro sports leagues can create an ecosystem where they, the athletes, and he fans could all benefit from the power of blockchain technology.
Sure, anyone could watch it on YouTube, but that ownership makes it special. If the PGA Tour starts considering the non-fungible space, they should look into incentivizing a token even more by attaching opportunities to it like a meet & greet or a FaceTime with the pro who hit the highlight shot.
Another way the PGA Tour could capitalize on an already successful brand strategy is to incorporate the #LiveUnderPar campaign and create a small highlight reel from an individual’s user-generated content, which could be combined with the PGA Tour’s exclusive media of players. Imagine a card or a pack that someone could own the rights to that combined video highlights, a selfie, and that person’s own video documentation of a tournament-winning putt. The PGA Tour could package this item in a creative, top-quality way and give exclusive access to attendees of that specific event.
Let’s take a look at how these examples could translate online. The PGA Tour could create a landing page for NFTs with three categories:
- Weekly tournament
- Player highlights & stats
- Historical highlights
An attendee of a specific event could use a QR code to enter each week’s tournament column, or give them access to media packages before other attendees of the event. Later on, the PGA Tour could drop highlight or tournament or player packs. Once these items are available, people can buy or sell their NFTs on the marketplace.
If the PGA Tour wants to continue reaching a broader audience and get ahead of the curve with the latest technology, it should create NFTs to deepen a connection between the players and the fans.