🎙️The State of NFT Sports
A collaborative episode, including a deep dive into NFT sports data and a look at the macro trends in the sports world.
What’s up everybody, it’s LG Doucet here.
This week’s episode is our first collaboration - and its two hours long.
The co-host: Carly Reilly, host of Overpriced Jpegs (OPJ).
The topic: The State of NFT Sports.
A little while back, Carly hit me up with a great concept: sports month on OPJ, where she would be interviewing with big players in the space and diving into what’s being built in our little corner of the metaverse.
She asked me to give an analytical overview of Sports NFTs and a broader picture of the big macro stories. I happily obliged.
But first - I wanted our community to get to know her, her show, and how she went from political campaign lead for Andrew Yang to one of the most recognizable names in NFTs.
For the first 40 minutes, we cover:
How she landed on Bankless
Our mutual stories about the POAP guy
Where her sports allegiance lies
Her life in NYC (and my thoughts on sandwiches)
Her upcoming tokenized wedding
And of course a tricky question: I ask her what she would do with $250k to spend on NFTs.
Somehow, despite grilling for the better part of an hour, she still brings it all the way back to Taylor Swift (WHY). And then we get into the sports talk…
📊 The State of NFT Sports w/ Carly Reilly
The core of this episode has two parts:
Snapshot of Sports NFTs
Macro Trends in Sports
Snapshot of Sports NFTs
In the Snapshot, we look at the total volume from 2021-2022 for Dapper Labs, Sorare, Candy, and Panini. We don’t have Draft Kings data unfortunately.
The big numbers:
Sorare recorded 50,000+ Unique Buyers in January 2023
Second closest to that is NFL ALL DAY with 16,000+ (although the Sorare number includes Soccer, NBA, and MLB)
NBA Top Shot has seen an 83% drop in Monthly Unique Buyers from January 2022 to January 2023
At its peak NBATS had 184k Buyers (March 2021), representing a 94% drop (although some of those may have been multi accounts)
The actual volume numbers are hard to analyze, mainly because our data source (Cryptoslam) does not currently differentiate Primary (auction) from Secondary Sales on Sorare. So the numbers below here do include Sorare’s auction sales, but not Dapper’s packs sales.
For 2022, I would say Sorare + Dapper are pretty neck and neck in terms of volume. But when it comes to Active Users, Sorare has the upper edge as they continue their growth through launching the NBA and EPL.
Macro Trends in Sports
Although sports is a place where there are CONSTANT new narratives, Carly and I whittled down the “big macro stories”:
Sports Betting Taking Over America
Sports Keeping Cable TV Alive
Saudi Arabia’s Massive Play
In the podcast, you’ll hear us dive deep into each of these topics - and we’ll cover these in a longer newsletter coming to OPHJ’s feed this week. So subscribe below!
As for this week’s The First Mint pod, you can catch it on our usual feeds. A big thank you to Carly for reaching out on this one, and letting me grace the OPJ airwaves for a second time.
Two weeks ago we asked what the best video game of all time was; and last week we narrowed the lane to just sports.
Although not on the prime time radar, the NHL All Star Game happened this past weekend. Naturally, we had to ask the community if the event even registers for them.
We’re back on spaces!
Last night, we held our first Open Mic spaces in a long time, and chatted about:
The Giannis $190k Sale on Sorare
Dapper Labs leadership
The Doodles launch on Flow
UFC Strike Game News + New GM
The recording is posted in our podcast feed, and features myself, TheReelPhilD, Dumbo from Dapper, Quadzilla, Jack Wylde, and Christian from Evaluate.
Other great stuff at TFM:
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**This is not financial advice. Nothing in this newsletter, podcast, or publication should be considered financial or trading advice of any kind. Please do your own thorough research and make your own trading decisions. This is not advice.”
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