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The Huddle: Beyond Collectibles
People are catching on, NFTs are more than collectibles
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🔥NEW ATHLETE DROPPING SOON + Discord Rewards🔥
What’s up yall! Missed you guys last week, the team was traveling and talking to some new teams and athletes (always hustling here, some major tokens are coming soon 👀).
Speaking of major tokens - gear up for our biggest announcement yet. In the next week or two, we’ll announce the next athlete joining the VO2 platform. They’ve got a huge following, and we’ll get to show some love to a new sports vertical.
The VO2 Discord community is always popping, if you haven’t already - join today here. Lots of cool giveaways and reward distributions going on to people who are active and invite more people to the community. Plus, you don’t have to wait a week for updates!
🚨 Weekly Highlights 🚨
Basketball Forever Catching On to Utility NFTs
Two weeks ago, we discussed the “Collectible Craze” here on The Huddle. Long story short, a lot of projects are creating digital sports collectibles in every sport imaginable. VO2’s been saying it from the start, collectible NFTs are the old-wave, utility NFTs are the new-wave.
Basketball Forever is an Australian media company making NFTs that increase fan engagement through ticket giveaways, memorabilia, and more. These are really similar to the perks you get from owning a VO2 athlete token, and it shows that the next trend is going to be utility NFTs. Basketball Forever NFTs are not athlete-backed however, their NFTs are ~quirky~ canines with unique traits. Awesome concept, but the NFT design could use some work.
NFTs are versatile. They are “objects” on the blockchain that can be owned and traded. They can also have unique behaviors, such as facilitating fan-interaction (see above). And now they’re being used for ticketing at stadium events.
Tickets have been going more and more digital, but tracking ownership can be difficult. That’s an open door for scalpers to resell tickets, and it’s difficult to track the transfer of tickets from one person to another. On top of that, post-event tickets become kind of useless pieces of paper (or emails). But converting a ticket to an NFT fixes all these issues since it enables ownership-tracking and can serve as digital proof you attended an event. They can even be used to distribute perks and benefits after the event has ended.
Algorand Steps Up as The First US Blockchain Sponsor of The FIFA World Cup
Talk about sleeper picks - Algorand is the first US blockchain sponsor of the 2022 FIFA World Cup. When it comes to “hot” L1 cryptocurrencies, Algorand is not really in the convo. Marketed as the world's most decentralized, scalable, and secure blockchain infrastructure, Algorand really hasn’t had the transaction volume that the likes of Ethereum and Solana have had. Doesn’t seem to matter: following the news, ALGO is up 20%.