Sports Organizations Are Scrambling to Get In on the NFT Craze

Teams and leagues see the tech as a way to expand their memorabilia markets and boost their brands

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If you had asked Philadelphia 76ers president Chris Heck about crypto a year and a half ago, he jokes he would have thought you were talking about a Superman comic.

But cryptocurrency has since become something of a quarantine obsession for the NBA team executive. After spending around a year poring through research on the trend, Heck formulated a three-year plan to turn nonfungible tokens—a digital asset ownership record stored on the blockchain—into a source of revenue and brand awareness.




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This story first appeared in the Dec. 6, 2021, issue of Adweek magazine. Click here to subscribe.