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

Meet the next generation of consumers where they are now. Join us virtually for The New Consumer, on March 30, for tips from Clutch, Mars Wrigley and more. Sign up for free.

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.

The

AW+

WORK SMARTER - LEARN, GROW AND BE INSPIRED.

Subscribe today!

To Read the Full Story Become an Adweek+ Subscriber

View Subscription Options

Already a member? Sign in

Adweek magazine cover
Click for more from this issue

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