Sustainability In Tech ‒ Disrupting The Sports Industry With NFTs
- Feb 15, 2023
- 3 min read
Written by: Aleksandr Iurev, Executive Contributor
Executive Contributors at Brainz Magazine are handpicked and invited to contribute because of their knowledge and valuable insight within their area of expertise.
To reach the international community’s sustainability goals, every sector of the global economy has to be rethought and restructured. First and foremost this means changing the way we think. And it also requires the use of innovative new technologies to make the green agenda a reality.
The sports industry is one of the few sectors that has only been slightly disrupted by new technologies. Many things are still done as they’ve been done for over a century, and this slows our race to achieve sustainability goals by 2050.
For example, let’s look at the achievement recognition process. Each year, across the globe a billion trophies are awarded to athletes in all sports categories. Even many more awards are presented in the form of ribbons, certificates and medals.
On average, an athlete will spend at least $1,000 per year on gadgets, equipment and training to achieve their goals. The adrenaline rush of excitement and joy when, say a runner, crosses the finish line and they get that medal, is one of the best moments in the running journey.
While an athlete spends so much training and preparing, they often forget that it’s equally important to properly organize and keep track of those achievements. For example, as the years go by athletes misplace medals, and trophies might accidentally get trashed during a move into a new apartment or house. This creates more garbage that pollutes the environment.
Certainly, there must be a better way to award athletes and help them organize and store their achievements. In fact, there is. Entrepreneurs and engineers are pioneering NFTs for sports. At the crossroads of Art, Environmental Sustainability and Technology a market is rapidly being created for “medal NFTs”.
Previously considered solely a form of art, Non-fungible tokens (NFTs) are making inroads into the athletics and sports industry. Here are six ways that NFTs can be a huge advantage to athletes and the sports industry, as well as play a role in achieving sustainable environmental goals.
Sport NFTs allow you to store your achievements in the palm of your hand. Well, to be more specific, in the wallet of your smartphone, which of course is in the palm of your hand. These NFTs exist on the blockchain and give the buyer digital ownership rights.
Sports NFTs are a great tool for parents of ambitious athletes. More than anyone, kids need to show their achievements in order to get into elite high schools and colleges, especially when applying for a scholarship. Think how easy it would be simply to share a digital file with a potential college or university during the application process.
Sport NFTs save space, and you won’t have to lug around boxes of trophies; not to mention organize all those ribbons and medals that can become tangled. This is especially important as people increasingly live in urban areas that are densely populated and where people have little storage space.
Sport NFTs are cool simply because they are high-tech. Trophies are just so 1990s. In fact, the notion of a trophy itself has become tarnished, as in the “trophy generation” of spoiled kids who got one for doing nothing. Sport NFTs are cutting edge and 21st century.
Sport NFTs are inexpensive, selling for between $10 and $20. This helps athletes save money. Trophies and medals can cost anywhere from $10 to $500.
Sport NFTs are sustainable. NFTs don’t require plastics and metal like trophies, and they don’t need to be transported by trucks and cars that spew even more greenhouse gases into the atmosphere. In addition, eventually all those trophies will end up in the dump, and this will further exacerbate landfill problems.
Let’s keep everything simple; let’s keep it digital. Sustainability needs to filter down to every aspect of our lives and society if we are going to meet the green agenda’s goals for 2050.
Aleksandr Iurev, Executive Contributor Brainz Magazine
Aleksandr Iurev is a serial entrepreneur, with many years of experience in launching startups. His most recent is Pocketfied, which will radically disrupt the mobile app development industry with its highly innovative technology and service. Overall, Mr. Iurev has 20 years of experience in the IT sector, as well as in DevOps, and Information Security. He cut his teeth in Tech working in IT security for the largest banks in Russia, as well as for top IT companies. That experience protecting clients from hacker attacks is one reason why he attaches top priority to building secure systems so that users can be certain they're protected.
