Are you a huge hockey nut looking for collectibles issued by some of your favorite players? Do you want a chance to make a buck or two on something that will likely increase its value with time? You’ve got reason to celebrate- NHL NFTs are here. Everyone from Katy Perry to Tiger Woods is minting NFTs these days- there’s no reason why our favorite NHL players shouldn’t join the action!
What NFTs are valuable
Over the ages, humans have shown immense need for non-replicable items of value. Art worth billions fills museums around the world , limited edition Corvettes sell for enormous sums, and people pay thousands for artisinal salt and pepper shakers. The common theme here is that something doesn’t need to be ‘useful’ in the traditional sense for people to see it as valuable. For instance, what makes art valuable? And what makes art, art? In my mind, a few things:
- It’s unique and/or one of a limited number
- Its value appreciates over time
- You have to take care of it
- You can enjoy it each day you own it, providing a daily utility
- It’s actually one of the best stores of value there is
NFTs have all these properties except for upkeep, and possibly the daily utility derived from owning something. You can’t hang an NFT in your bedroom. I suppose you could install a screen and have it on that screen, but this is different from owning a physical Picasso. Like art, people are buying and selling NFTs constantly. A lot of NFT traders have made insane gains over the past few years. The space is overbought right now, and the worst time to be entering a space is when greed is abundant and everyone is chasing profits. To make money trading NFTs, you need to have buyers who are willing to pay more than what you paid for the art. If the price of NFTs keeps going up like it has been, eventually there will be no more buyers you’ll be stuck ‘holding the bag’. Still, art has been one of the best performing asset classes in the last 30 years and has vigorously held its value. Given the similarities between NFTs and traditional art, you can make a strong case NFTs will do the same.
The NHL is by far my favorite professional sports league. To truly experience how awesome it is, you’ve got to actually go to a game. It’s fast and dudes hit the s*** out of each other. Other sports seem slow after watching hockey, and most games get spiced up with a good fight. Of the “Big Four” professional sports leagues in North America (MLB, NFL, NBA, NHL), NHL has been able to sustain the highest average annual growth rate. The NHL has a smaller amount of annual revenue (~$5B) when compared to the NFL (~$16B), the MLB (~$10B), and the NBA (~$8B). This means the sport has a much better chance to grow. The NHL has made concentrated efforts year after year to make the game of hockey available to communities of all statures. The sport of hockey is becoming more diverse.
Most popular NFTs today sell on the Ethereum blockchain, and NHL NFTs are no exception. In the future, many more marketplaces on other blockchains including Cardano and Polkadot will sell the most popular NFTs. Further in the future, you can add any other smart contract cryptos to this list, like Avalanche.
Auston Matthews is a first-round draft pick star defensemen for the Toronto Maple Leafs. The Leafs are currently the most popular and most watched professional sports team in Canada. Auston Matthews NFTs are available on OpenSea as ‘The 34 Collection’. Auston helped design his collection and the collectibles sell from his official verified count on OpenSea. OpenSea isthe largest market place for NFTs, with an annual trading volume of $3.4 billion. His NFTs aren’t cheap- on the low end, they’re running 0.5 ETH (~$1,500).
Auston is an extremely unique NHL player- he’s from California and grew up in Scottsdale Arizona. If you’re familiar, these places aren’t hockey locales. NFTs from his 34 Collection capture this, with desert imagery from his childhood to the Toronto skyline in the hockey epicenter of the world. If hardcore fans want to argue the epicenter of hockey- I’d say its the place that produces the most NHL players per capita. Where’s that? Thunder Bay, Ontario- an obscure Great Lakes port/fishing town of 50,000 in Western Ontario.
Anyway, Matthews has most of his NHL career in front of him, so there’s a very good chance that these NFTs increase in value as he becomes a more well-known in NHL player. Although, this isn’t investment advice and I’m not a financial adviser.
Other NHL players offering NFTs
Several other NHL players have introduced NFTs including: Wayne Gretzky, Alexander Ovechkin of the Washington Capitals, former great Bryan Trottier of the New York Islanders, and Matthew Tkachuk of the Calgary Flames.In the future, I see many more NHL players authorizing their image and likeliness for NFTs, whether it’s for profit or non-profit fund raising. For instance, proceeds from Matthew Tkachuk’s NFTs go to the Alberta Children’s Hospital system.
If you’re looking to getting into trading in the NFT space, I have found its best to buy and sell things that you’ve researched. This could also mean that you have familiarity with the celebrities issuing the NFTs, and how other fans value them. If you own or are buying an NFT, know that you’re an early adopter of this technology. Someday you’ll be bragging to your friends about how you got in on NFTs early. Or, it will be embarrassing and you won’t want to talk about it.