Why NFTs Are Here to Stay—and Wow Us

A new space for fans and community members to show their love and loyalty

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WTF is an NFT? While brands, publications, artists, athletes and investors scramble to join the lightning-fast momentum of non-fungible tokens, your connection to NFTs is closer than you think.

Whether you understand or not, the truth is that you understand what’s at the core of NFTs: community. And that is why NFTs are here to stay. Think about the signed A-Rod baseball or the Bruce Springsteen Born in the USA tour shirt, the limited print Warhol Campbell’s Soup poster or Hess holiday truck you proudly displayed in your home. And you can share it with a far larger community than your friends in your basement.

NBA TopShot, the NFT collectible marketplace for NBA moments, is just as much about NFTs as brand platforms like #NBATwitter or NBA2K. Basketball fans are collecting these moments, sharing and discussing them with friends, and creating expanded community around the beloved games and the leagues they hold so dear. When you buy your team’s favorite gear in the NBA 2K Neighborhood, or when you tweet during a game to the always-on community of #NBATwitter, you are showing your commitment to the NBA Community. Buy a LeBron no-look three-pointer and share it with the world, and you’re doing the exact same thing. The daily chatter surrounding the league and these pivotal moments is truly electric.

My magnetic focus and intense love of NFTs comes from the DNA of this content craze. It sits at the intersection of connected communities and co-creation. When done right, you can create a new space for fans and community members to show their love and loyalty. And these digital stamps are badges of honor.

Should every brand be jumping on this NFT trend? The answer is no. For the collector, there is inherent risk. The market is undefined and moving fast, so the chance to either gain or lose money is real. For creators and brands, there is also real risk. Learning and understanding things like the gas tax, minting, the ledger and so on is critical to being able to play in this space as a creator.

I’m excited to see where this trend goes. No one could have predicted the momentum of the past two weeks across brands and verticals that reach beyond other recent digital trends. I’m excited to see how brands and organizations tap into their community to build a digital world that you, as a fan, can own and display. It reminds me of the days of hanging out in my friends’ basements and seeing the collectibles their parents had, proudly displayed on the wall. It’s a badge that makes you a part of a community; that’s all it is. Don’t be blinded by the blockchain lights.

You got this.