In Brief:
- Yahoo Finance event today featured Dapper Labs’ Caty Tedman discussing NBA Top Shot and sports NFTs.
- Now, sports leagues do not seem to be resistant to her NFT collectible idea.
NBA Top Shotmaker Dapper Labs says that pro sports leagues have no qualms about exploring non-fungible tokens (NFTs) now that the sector is hot.
Dapper Labs’ head of partnerships, Caty Tedman, said during Yahoo Finance’s All Markets Summit on Oct. 25 that professional sporting organizations changed their stance on NFTs due to the sector’s rapid growth in early 2021.
She said, “The conversation has shifted dramatically, where I think there’s a little bit of an understanding that there’s something here. I meet very little resistance these days that NFTs are a thing.”
She further added, “At that time, it was a lot of explanation and we spent a lot of time with lawyers and people in finance to talk about what it looks like to have secondary revenue. You don’t have secondary revenue on merchandise […] what does it look like to have ownership in perpetuity of assets for consumers.”
According to Tedman, Dapper was “lucky to have started with the NBA,” as the department’s Executive Vice President of Global Partnerships & Media, Adrienne O’Keeffe, was open to NFTs.
Based on data from CryptoSlam, over $32 million worth of NBA Top Shot NFTs were sold in secondary markets in October, an increase of 58% from the previous month.
