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NFT – non-fungible token, phenomena that stands for a unit of data that is stored on the blockchain is infiltrating all aspects of the world we live in, including action sports.
The innovation of NFTs empowers new paths for creators to deliver content and brand engagement on an expansive blockchain-enabled, decentralized media processing infrastructure.
The word is getting around like a splint of fire on the hot August afternoon & sprinting like avalanche past awareness of youngsters & techy masters.
What’s the matter? NFT.
Quickly on terms: NFT – non-fungible token, phenomena that stands for a unit of data that is stored on the blockchain. In simple language, to define NFT we should say that it is: “digitalization of assets through proof of ownership”. The key difference to this revolutionary approach in relation to the rest of the crypto market is that each token is considered to be a certified digital asset that is one of a kind & cannot be replaced by any other asset.
The component that makes it indistinguishable is what makes brings its value to the forefront. In a simple term, we all remember days of collection craze: cars, vinyls, books, baseball cards, Pokemon tokens, etc. Consequently, we remember what happened to the value of those. The older the collection the more value it carries, the louder the name (author, manufacturer, famous figure who has been an owner) behind it the higher the estimate of its preciousness. There are a few factors to be included here: material, the field of interest, novelty, entrepreneurship, usability, popularity, scalability, risk.
What separates NFTs from the collections of the past?
Security. If sets from the past were stored in the material-physical-tangible realm, NFT bridges the issue of security to the next level & making it close to invincible through the world of pixels & numbers. How so? With a set-in-stone code, there is not much you can do, you can take a peek at the construction behind it, just as children like to see the new fabric of a brick-glass high-rise, yet not being allowed to participate in the process.
“Revolutionary new experience in which jaw-dropping plays and unforgettable highlights become collectibles that you can own forever.”
On the positive alternative vision, here is how NFT technology will & already influences main-stream of the game-sport sphere:
Professional athletes have a history of creating brands around their names & promoting their persona by including their essence in the part of their icon trademark. Now they have an opportunity to step into more creativity through various marketing de-centralized platforms, that inherently allow them to combine creativity with business in a new light, shape & form. Quite literally there are no limits to this expansion & scalability, accessibility of these platforms allows athletes to reach amping new levels.
The snowboarding industry apparently is keeping itself up to date:
The Natural Selection Tour, where top snowboarders from around the world take on a challenge in naturally enhanced dynamic venues to compete for the title of best snowboarder, has teamed up with Mint Werx & Vivid Labs to bring to life an immersive community, cutting-edge NFT platform.
This collaboration will create stronger cooperation & deliver a one-of-a-kind experience for the fandom. For those who follow closely on the dates, the NFT drop is being released on the 25th of Jan (the first official day of the competition) & is displayed, promoted on the original website.
As mentioned by Travis Rice, pro snowboarder & co-founder of the movement: “The core reason we have decided to build an NFT roadmap is to build a community. By pioneering the model & building out this concept, we allow the space to evolve through innovation & technology, while also being mindful of energy consumption as the Tour continues on the mission to be carbon negative.”
SVP of Mint Werx, Ryan Sands followed: “We believe in the word to inspire the audience & forge a deeper connection with nature through the integration of culture, education & environmental sustainability. Through the platform, fans can play a part in the experience no matter where they tune in.”
The Vivid Labs publishing platform represents the evolution of NFTs into complete media experiences through digital assets that are updatable, transforming simple NFTs into rich, programmable multimedia assets. This innovation empowers new paths for creators to deliver content and brand engagement through expansive NFTs on a blockchain-enabled, decentralized media processing infrastructure. Not to mention that Vivid Labs’ eco-friendly proof-of-stake platform is efficiently built to minimize the environmental impact, as well as optimized to reduce costs and resources associated with encoding, distribution, and storage.
This technology-extreme sports partnership is ground-breaking news for the entertainment industry, bringing the NFT experience to the next level entirely, with fans being offered dynamic multimedia NFTs that are permissioned.
As for more specific details: buying the initial NFT Foundation Token for 15$ opens the priority for future drops, exclusive insights, and content while the user simply holds the token. For the first year, the platform will function on the dollar-system payment through a wallet built into the official website instead of connecting it to a crypto account. Later in 2022, a secondary marketplace will launch to complement the ongoing roadmap & provide further value for NFT owners & fresh chances for new community members.
The official website of Natural Selection opens the door to a selection of upcoming events, history of athletes/participants/members, results of past championships, shop section, stream section & NFT section.
The current NFT collection shows the limited growing number of minted (created) NFT pieces, delicate art behind them & synopsis on their meaning.
Scrolling further down brings the upcoming roadmap with what to expect from the company. With so much building potential, there is a strong calling for attention for the fans to follow on.
“Revolutionary new experience in which jaw-dropping plays and unforgettable highlights become collectibles that you can own forever.”
This is the actual world of our use & implementation of NFT technology via virtual 3D rooms, where collectors can show off their trophies & have a chance to play with their display, which achieves the goal: audience-creator. Once the piece is sold – now it belongs to the buyer, it is up to the individual to play with the final look if there is a desire to experiment & add a personal-unique touch to it. Basic tools are: framing, clipping, audio/video editing, shading & so on. For example: one buys a card of their favorite athlete, having that card gives him direct ownership over this property & opens the door to discover opportunities of his artistic work, perhaps add a layer of music on top of it, implement it into a video, combine it with another art pieces, etc. We all know the beauty of art – it doesn’t have borders. Another key component that gives NFT a big advantage over the classical scheme is the compound effect. What does it mean for the original author? It means that once the piece is being sold to the fan & being sold again by the fan further down the line, the original author receives 10% (at least) from secondary purchase. In a long term, this creates an endless spiral of multiplied growth, as long as one sustains the persona, of course, we all know fame is a dangerous game to play on its own.
How much further does metaverse influences the scenario is hard to even imagine, nor fully predict. But if shortly: users will be able to use their unique voiceprint to unlock virtual world platform in which they are represented by their own avatar, representing their personal passions & fandom. Metaverse will dissolve geographical & physical barriers to deliver a better experience before, during & after games that will be unfolding in front of their eyes online. During matches, the audience can have a panoramic view of the whole game & choose to zoom into any perspective of their choice, allowing them to delve into even greater details (forget the back sit-corner rows). Additionally, with multi-view camera technology, fans could step into the virtual pitch and even run alongside sportsmen/women. They would be able to join the cheerleaders, watch from a variety of vantage points, or simply sit with their friends who, in the physical world, maybe many miles away.
Granted, we are only at the beginning of this fascinating journey. So, let’s watch this unfolding game within a game closely.
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