AFL NFTs Sell Out in 12 Hours

The Australian Football League (AFL) recently dove into the world of digital assets with an NFT drop. On August 17th, the league dropped NFTs, including over 70 of the best in-game moments from the 2021 season and even featured the captains from each of the teams. Demand for the sports-based NFTs was high, leading to the collection selling out in less than a day.

In April the league partnered with Animoca Brands, the venture capital and software company. Together they dove head first into the digital asset space, launching a minting studio named AFL Mint. The partnership spans the next five years and includes metaverse offerings and football-NFTs. The minting studio is expected to expand in the future, merging digital assets with game-day experiences including VR, prizes and ticketing.

Three packs of NFTs in the recent drop sold for AUD49, with three tiers of rarity. The digital assets were only available to those signed up on the “allowlist”. The AFL and Animoca partnership rivals that of Dapper Labs with the NFL and LaLiga. Sports-based gaming, collectibles and memorabilia in the digital asset space are growing everyday.

The Web3 and blockchain space in general, benefit greatly from these sorts of ventures. The AFL is helping onboard people into the digital asset space, one of the most valuable actions to broaden the adoption of blockchain technology. Major sports leagues entering the space is great proof of further adoption and acceptance.

As the Web3 movement grows, more and more brands are entering the industry. NFTs provide exceptional opportunities within rewards and ticketing. It’s only a matter of time before more companies worldwide decide to take advantage of the revolutionary technology.

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