
Athletes, teams dipping their toes into cryptocurrency, NFT pool
The cryptocurrency trend is spreading into professional sports. Athletes, teams and leagues are using these “digital assets” for various financial transactions involving charitable donations, selling memorabilia and collectibles, and funding various player and team promotional ventures. One National Basketball Association team is even launching its own collection of non-fungible tokens, or NFTs, one of the newest forms of cryptocurrency. Players are also getting involved in sports business ventures funded by NFTs. Fulton Schools Professor Dragan Boscovic, a cryptocurrency expert and director of the Blockchain Research Lab, explains how these digital cryptocurrency assets can even be in the form of videos, photographs or digital files, and how transactions carried out with these assets are managed by “smart contracts.”