4/7/2023 0 Comments Nfl dapper labsThe NFL and the NFLPA will also take equity in the digital platform.ĭapper and the NFL expect to launch the marketplace before the end of the season. Dapper is not short of cash after its recent $250 million investment round at a $7.6 billion valuation. However, any Dapper competitors would probably do almost anything to win the NFL contract. According to Sports Business, revenue sources include royalties and a minimum guarantee, despite Dapper not being keen on guarantees. The result is that, if the deal goes as rumored, Dapper Labs’ product will be the NFL’s second largest source of digital revenue, behind only EA Sports’ Madden. Waiting to enter the industry also enabled the organization to weed out less successful projects such as MLB Wax and understand what kind of product can generate continuous interest from fans despite the volatile NFT market. The league had the opportunity to observe other launches and learn from their mistakes about what could have been done better. However, NFL’s un-rushed decision to enter the NFT space puts the project in a stronger and more financially sustainable starting position. In addition, almost every major football (soccer) team in Europe has an NFT deal. Most top sports leagues in the U.S., including the NBA and MLB have at least one fan engagement blockchain-based product, if not more. In many ways, it can be argued that the NFL is late to the game. Sports Business’ sources confirm this assumption. The reasoning was likely that the NFL was developing a league-wide initiative for NFTs. Teams were also banned from signing individual contracts for NFT products at a time where many leading sports teams had at least one deal in the works. In early September, the NFL announced that teams would not be allowed to sign sponsorship deals with cryptocurrency firms or other blockchain-based initiatives. “We believe blockchain technology has great potential to enhance the NFL fan experience in the future and we are excited to have Dapper Labs as one of our first collaborators in exploring this emerging space.” “We are thrilled to partner with Dapper Labs in its launch of NFL digital video collectibles,” said Joe Ruggiero, SVP of Consumer Products at the NFL. ![]() A matter of hours later, the deal was confirmed. ![]() According to the Sports Business Journal, Dapper Labs is preparing to announce a partnership with the NFL and the NFLPA to launch a non-fungible token ( NFT) product similar to NBA Top Shot.
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