NHL Enters The NFT Space In Collaboration With Marketplace Sweet.

The NHL’s agreement with Sweet will provide its fans with a variety of digital collecting experiences that will be marketable in the marketplace.

The National Hockey League established a partnership with NFT Marketplace Sweet on Thursday. This will be the league’s first foray into digital collectibles.

The agreement, which includes the NHL’s players and Alumni Association, will be live in October to coincide with the commencement of the 2022-2033 NHL season.

NHL fans can expect a variety of experiences from the NFT marketplace. Digital collectibles include historical moments, past and present season game highlights, and NHL stars’ best plays.

Gamified collecting experiences, specialized packs, and 3D interactive trophy rooms where users may display their collections will also be available on the marketplace. Among these options are dynamic NFTs, which alter based on current team data.

Fans would also be able to purchase, sell, collect, and trade collectibles on the marketplace. The announcement, however, did not specify which blockchain would host the marketplace.

The NHL is the latest in a long line of sporting organizations to embrace digital memorabilia.

In collaboration with DapperLabs, the NBA introduced Top Shot NFTs, its digital collectibles marketplace, in 2020. Similarly, the NFL debuted its own NFT game, and the MLB is set to introduce its own NFT game soon.

However, because to the huge sell-off in the cryptocurrency market, crypto businesses have backed out of sports partnerships. This is true as crypto firms struggle to stay afloat as the market’s sharp sell-off continues.

FTX recently backed out of a collaboration agreement with the Los Angeles Angels. Similarly, reports claim that a patch deal between the NBA’s Washington Wizards and a cryptocurrency company has failed.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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