Just a few days ago, popular boxing champions, Floyd ‘Money’ Mayweather and ‘Dangerous’ Don Moore confirmed an exhibition bout for the month of May. Although this news is positive for all boxing fans, it has also generated interest in a trend within the cryptocurrency industry.

According to the official statement released on Wednesday by the ‘Global Titans Fight Series’, the exhibition match between Mayweather and Don Moore will be held on the 14th of May, and will include an exclusive livestream pay-per-view for NFT ticket holders. Wait, did we just say ‘NFT ticket holders’? You’re absolutely correct.

The exhibition bout will be hosted in Dubai at Burj al-Arab’s helipad, and the event organizer has made provisions for hybrid audience attendance. As a result, people can either walk into Burj al-Arab’s helipad to watch the match in person, or they can live-stream the event from anywhere in the world.

However, organizers for the exhibition bout took a departure from streaming live events and are using an unusual approach.

In what has now been tagged as the world’s first-ever NFT sports event, the match’s virtual stream will only be available to NFT ticket holders. This will allow spectators to access the live stream through NFT tickets, allowing them to enjoy a premium pay-per view.

Interestingly, this is not Mayweather’s first pay-per-view exhibition since his retirement back in August 2017. In the past, Mayweather has been featured for several exhibition fights such as those with Logan Paul and Tennshin Nazaawa in June 2018 and December 2021.

The upcoming NFT-backed display is a first, and it will be spectacular.

Considering that this will be the first NFT pay-per-view for a sports event, all interested viewers will be required to purchase tickets from ‘Rarible’ to enjoy exclusive access to the event.

What are you to expect from the merger of NFTs, Sports?

The virtual streaming of sporting events isn’t a recent idea. It has been a practice for many years. However, it can’t be denied that the current methods employed for streaming sports events are not without their flaws.

The dominant stream-based revenue model isn’t working well for organizers. This happens because they often must sign exclusive deals with the host streaming service for their rights. It can also hamper their revenue streams and audiences. People must subscribe to streaming services such as Hulu, ESPN and DSTV to have access to some of these sporting events.

Although this is a highly lucrative practice for streaming services it could not prove to be as profitable for organizers, who often have to wait until they receive some of the stream revenue.

All that will change is the new integration of NFTs and sports. This introduces a new streaming/ticketing model. NFT tickets will enable exclusive content to air beyond that offered by traditional streaming services.

In combination with NFTs, organizers are able to make revenue from NFT ticket sales while simultaneously airing live programs at dedicated landing sites. Although this may not be as popular as traditional methods initially, organizers will see a significant increase in their revenues over time.

People can boast about their NFT access and enjoy exclusive viewing privileges.

NFT tickets are a way for bragging rights and ensuring that there is no difference in the number or sale of tickets. In comparison, most traditional streaming services offer multiple screen views, which means that a single subscription can provide access to up to five additional viewers, depending on the streaming service; and that’s not to mention viewing parties and get-togethers.

The new ticketing model eliminates many of the problems inherited from the old ticketing system. This includes black market sales, which eventually leads to buyers losing trust and finding it difficult to distinguish between genuine or fake sources.

A major drawback of the old ticketing system is the lack of exchange protocols. It’s almost impossible to trace customers or to exchange information beyond supplier boundaries.

When an event sells out, many people resort to second-hand purchases. Unfortunately, tickets that are sold on secondary markets don’t belong to the original purchaser. The organizer does not have the details. Event organizers often have trouble tracking attendance at events. It’s also hard to control the number of tickets that have been sold.

While the NFT is still in its early stages, the NFT has all the potential to revolutionize the ticketing business.

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