Challenges Ahead for Dapper Labs’ NFL All Day NFT Platform
Dapper Labs’ NFL All Day NFT collectibles platform is facing difficulties this season as sales struggle to gain momentum compared to the previous year. Last fall, the platform made its debut, applying Dapper Labs’ successful formula from NBA Top Shot to the world of football. Both projects offer tokenized video highlights as NFTs that can be bought, sold, and traded.
During the anticipation for the upcoming NFL season last August, NFL All Day experienced a surge in sales, reaching $10.3 million. However, this year, sales have dropped by 87% to $1.3 million.
Last September, NFL All Day had a breakthrough moment, surpassing the Bored Ape Yacht Club as a top collection on CryptoSlam’s NFT market charts. It recorded its best-ever month with $18.4 million in sales and over 520,000 transactions. Dapper promoted its NFT collectibles on the official NFL Network channel, featuring Patrick Mahomes in promotions.
Despite Mahomes’ involvement in the crypto space, NFL All Day’s drop in sales suggests that the average sports fan may not share his excitement. Dapper renegotiated its deal with OneTeam Partners after falling short of revenue expectations during its soft launch in 2021.
NFL All Day continues to introduce new features, including in-stadium audio for digital collectibles and “dynamic Moments” NFTs that evolve with player performance. The platform also offers a team-based collecting experience and more accessible collectibles for first-time participants.
Hot Take: Will NFL All Day’s Sales Test Sports Fans’ Interest in Crypto?
In recent years, sports fans have shown a growing interest in crypto. However, the performance of NFL All Day’s sales during the upcoming NFL season will put that interest to the test. As the season kicks off, it remains to be seen whether sports fans will embrace NFT collectibles in the same way they have embraced other digital assets like Bitcoin.
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