National Hockey League plans to unveil an NFT marketplace, and NFT drops

The National Hockey League has revealed its non-fungible tokens (NFTs) plans. The league, along with the Alumni Association and the Players’ Association, will launch an NFT marketplace and a collection of NFTs.

NHL to launch an NFT marketplace

The executive vice president of business development and innovation for the NHL, David Lehanski, said that the NFT marketplace would offer a platform where users can trade NFTs and allow them to access limited-time NFT drops.

The NHL has announced that the marketplace dubbed Sweet will be launched in October. It will debut before the 2022/2023 season. The marketplace would offer an NFT experience and promote blockchain gaming.

The NHL is planning to boost fan engagement through this new product. It plans to gamify these NFTs through quests that will motivate fans to interact with the platform. Fans will also receive rewards in the form of other NFTs.

The NFTs promoted by the platform will also be different and contain varying attributes. The NFTs will transform over time depending on the performance of the player. According to the company, the NFTs will be “cinematic game highlights from past and present NHL seasons.” The NFTs could also include surprise packs that will be in 3D format.

The NHL has not revealed the blockchain that will be supporting the marketplace. Ethereum is currently the leading blockchain for NFT projects. However, given the currently available offerings, the marketplace could be launched on the Polygon and the Tezos blockchains.

Lehanski noted that while evaluating everything in the market, they were looking for a blockchain that offered low gas fees and focused on environmental sustainability. These were the key priorities for the network.

Sports and NFTs

The NHL is one of the leading professional sports companies that has ventured into NFTs. Some leading sports leagues, including the NBA and the MLB, have also moved into NFTs. The MLB launched an NFT game.

Lehanski opined that the NHL was taking its time to launch NFTs, adding that the league was not focused on making everything move quickly because that would be “a little shortsighted.”

Lehanski also said that the league wanted to focus on taking enough time to research the crucial metrics such as fan behavior. “NFTs have long-term viability as relevant and meaningful products for fans, especially as it pertains to digital collectibles and gaming,” Lehanski added.