DAZN is launching NFTs commemorating next weekend’s fight featuring Canelo Alvarez as he is set to fight Billy Joe Saunders.
Non-Fungible Tokens are all the rage with many sports and athletes venturing into the realm of NFTs. Notably, Francis Ngannou made $580,000 off of his NFTs sold after capturing the UFC Heavyweight title. The UFC is launching its own NFTs starting in June. It was likely that boxing would enter into the space and it will with its biggest star coming out with NFTs.
There will be an auction for a single, gold ‘Tale of the Tape’ for Canelo, and another for Saunders. The winning bidder will also receive a pair of signed gloves from Canelo or Eddie Hearn (really?). There will be silver NFTs that others can purchase for a fixed price. Other prizes will accompany purchases of the NFT.
Two days after the fight there will be NFTs related to the moments of the fight.
The NFTs will be available via the OpenSea web site.
Payout Perspective:
Although it does not address it in the story, one would have to purchase Ethereum tokens to purchase the NFT. The NFTs for next week fight present a unique wrinkle from prior NFT auction/sales. There is a gamification component of it with NFTs occurring based on outcomes that may or may not occur during the fight (e.g., A Canelo KO, a judge’s decision, etc.). The NFT market may be getting crowded but with a star like Canelo and the potential appreciation in the asset, it should draw a lot of bidders/purchasers.
Leave a Reply