Scoreboards of profits where Sports cryptocurrencies collide

• The ultimate trunk card, NFTs 
• Crypto-centric companies sign partner deals with various tournaments. 
• Gifting & receiving cryptocurrencies in the swap to Bitcoins 

The crypto markets in 2021 have surged the most, while the profitability and surge in prices have contributed to the growing adoption of the asset class. The discovery and innovation of identical blockchain-based tokens have also adopted a new form. Be it NFTs or stablecoins, which have also played a significant role in adopting decentralized mediums. However, what contributes to the extra glam factor is the adoption & recognition in the sports field of cryptocurrencies & exchanges to its mainstream.

Neither Autographs nor photographs, NFTs are the new trend

The Non-Fungible Tokens have scored excessive points in the play of sports after the entertainment industry became quite the savant of such tokens of exclusivity. NFTs are now a digital domain where fans can purchase, sell these tokens of exclusivity while also flaunting them as exclusivity is the virtue of the tokens. 

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The NBA has taken a step forward in this direction where it turned the highlights of various games in the seasons into NFTs & generated millions from its NBA top shot platforms where the most expensive offering happened to be an NFT featuring a dunk into the basket by Lebron James which sold for about $230,000 back in Oct 2020, while the numbers only surged in 2021. 

Advertising crypto 

Marketing & advertising are significant contributors to the growth & success of a business. However, in the latest trend, crypto-centric firms & businesses, especially exchanges, have leveraged themselves into the opportunity of becoming name partners or sponsors for various tournaments while consequently bringing the crypto sector into mainstreams. 

Crypto.com has branded itself & signed deals with various tournaments with the UFC. At the same time, referees & trainers were merch branded by the firm while also becoming the inaugural partner of the formula one roadshow. The company has also gained momentum as it has exposed itself to large & varied viewership. 

Fiat to Bitcoins 

Several star players have realized the scope & prospectus offered by cryptocurrencies. Apart from investing in them, players have also started gifting Bitcoin to their fellow players. 

In a recent event, the star NFL quarterback Michael McCorkel decided to gift Bitcoins to his fellow teammates on the occasion of Christmas as a token of gratitude & harmony. 

Apart from gifting, the baseball club Perth Heat too partnered with OpenNode to pay some of its players in BTC while many are already turning them into assets. As the crypto sphere widens its approach, they are expected to gain adoption. However, at present, it is essential to know the tokenonomics of the coin before investing under such influences.