“Our model is every game is someone’s first game so you want to set the bar really high for the first game of the season but then you want to do this at the next game”: JULIE UHRMAN - SportNXT 2024

“Anything can be turned around if it is giving an opportunity. Create opportunity by generating interest from the fan base.”: SHAUN HARVEY - SportNXT 2024

“The Women’s World Cup and the CommBank Matildas have showed us that if we invest in women’s sport, we will get the rewards.”: JAMES JOHNSON - SportNXT 2024


“Time ultimately allows great brands to develop, it doesn’t happen over night…”: JAY MONAHAN - SportNXT 2023

11 questions ask when evaluating NFT strategies and partners.  – SportNXT

11 questions ask when evaluating NFT strategies and partners. 

Insightful panel discussion at SportNXT on Web 3.0, Blockchain and Sport. NuArca Labs CEO Todd Cooper set out 11 questions beyond financial considerations, rights holders should ask when evaluating NFT strategies and partners. 

  1. How is the proposed NFT strategy delivering value to your fans? Have you spoken to your fans? Do you know what they want? Do they really understand what an NFT is? Education and engagement with your fans are paramount to a successful NFT strategy. It is important your NFT partner is aligned with you on this. Bring your fans on your NFT journey or you risk alienating your fans.
  2. Where is value creation for the potential partner actually happening and are your outcomes aligned? Where is the potential partner making money? Do they have their own crypto currency? If so, how do its economics work? Is it tradeable in major financial service markets such as the US, UK, and Australia? 
  3. Does the brand make it easy and low-cost for everyday fans to participate; accepts credit cards in addition to crypto so anyone can use them?. Less than 4% of the world population have personally invested in cryptocurrency, and a much smaller percentage are active users. Why would a brand limit its potential reach to only this tiny portion of its fan base?
  4. Will this platform make it easy to buy and own NFTs? Is it possible for every days fans to have access to the experience without needing to download, install, and configure complicated browser wallet plug-ins?
  5. Is the platform ready for the future? Does the platform have an open APIs allowing integration with metaverse, games, augmented reality, and additional near-future tech? 
  6. Are financial services level cyber-security and privacy controls in place? Does the potential partner track and ensure adherence to regulations including compliance with GDPR and other customer privacy regulations, and also conduct regular audits to ensure customer security isn’t compromised?
  7. Are the digital assets stored using IPFS? Does the platform leverage distributed standards to ensure NFT artwork and value persists and is recognized as legitimate?
  8. Does the platform minimize energy use and environmental impact? Does the platform deploy a widely accepted low-energy usage with near zero environmental impact blockchain technology, such as a Level 2 or proof of work blockchain? 
  9. Are the company principals and founder legitimate and credible? Do you know who you’re in business with? Too many NFT and crypto companies have fake, inaccurate, or misleading executive and board profiles. 
  10. Does the potential partner offers meaningful copyright protection to ensure brand integrity? Has the potential partner/vendor ever violated copyright, trademarks, or claimed rights that were not theirs? A company that will violate another brand’s rights, may do so to you as well. 
  11. Does the platform verify users to keep out bad actors? Does the platform conduct Know Your Customer (KYC) checks, consistent watch-list checks, and Office of Foreign Asset Controls checks, to make sure you’re not illegally allowing sanction-listed individuals or businesses to transact with your assets?
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