Image source: The Lowest Ask
The NFL is the latest sports league to join the NFT space, and sales of the NFL All Day platform have yielded excellent results.
Since the public launch, NFT sales have hit the 24-hour sales chart.
NFL All Day
NFL All Day had months of closed beta development and opened to the public in August.
Developed by Dapper Labs, the officially licensed collection launched alongside the regular NFL season and achieved amazing results.
During the first few weeks of the season, surveys showed that users were buying more stream-based NFTs on Sundays. It is usually played on Sundays.
Read also: Starting Lineup returns to shelves with a big update: NFT cards
The current bear market for cryptocurrency is having a significant impact on NFT prices and sales volume.
However, NFL All Day has skyrocketed and sales are on the rise.
On September 12 and 19, the NFL All Day topped the overall ranking of CryptoSlam’s 24-hour NFT market.
In a series of exceptional events, NFT has managed to surpass the Bored Ape Yacht Club and other “blue chip” projects.
The average selling price of Bored Apes in September was around $110,000.
The average retail price for the NFL All Day is now $ 31.
On September 11, the first big slate of the season, the NFL recorded a one-day secondary market worth nearly $ 1.17 million.
The number showed an increase of nearly 283% from the previous day.
The platform’s momentum continued the next day, reaching over $1.1 million as of September 12.
This happened on September 18, when the platform managed to generate over $905,000 in NFT sales, a 204% increase from the previous day.
Sales rose slightly to nearly $906,000.
More than two weeks later, Tuesday’s overall sales volume dropped significantly.
As more and more NFL All Day NFTs are selling out on Sundays and Mondays, the average sale price has increased over time.
On September 10, over 10,900 NFTs were sold on the platform for $28 each. The next day, nearly 29,400 NFTs were sold at an average price of less than $40.
NFT buy bumps
Dave Feldman, senior vice president of marketing at Dapper Labs, said the company is seeing increased engagement every game day.
Data from CryptoSlam shows a slight increase each day from Wednesday to Thursday since the start of the regular season.
“That comes as no surprise to us,” Feldman said.
He pointed out a few possible reasons why collectors buy more during games.
According to Feldman, Dapper has completed a playbook function which is dedicated to weekly challenges with the acquisition of NFTS and interaction with the platform.
Users who complete challenges can receive rewards that range from NFT packs to cosmetic discounts for their profile, including trophies and banners.
Feldman considers the NFL all day as a complement to the daily routines of football fans, from the interaction of social media to participation in fantasy leagues.
“We’re not asking anyone to change their behavior,” he said.
“Instead, we’re just giving them the opportunity to own a piece of the action that they are already so passionate about.”
Online community traffic
Dave Feldman also attributes Playbook functionality to increased traffic for the NFL All Day community.
Week after week since launch, traffic on Discord servers increased 53%, in line with the first week of the season.
There was also a 65% increase in Discord chat activity.
Read also: FIFA+ Collect: FIFA and Algorand collaborate to create NFT platform
Dapper Labs promotes its NFT collectibles on the official NFL network with advertisements featuring Patrick Mahomes of the Kansas City Chiefs.
The company also uses paid advertising on social networks to attract new users.
NFL All Day follows the same approach as NBA Top Shot, which was successful during the NFT boom in early 2021.
Both platforms take existing video clips of their respective sports and turn them into limited-edition digital collectibles.
However, the two sports are also very different as the NBA offers games throughout the week while NFL games usually take place on Sundays.
Some matches will be played on Monday and Thursday, giving Dapper Labs an allowance to deliver content and advertising on certain days.
NFL All Day NFT sales surge on Sundays during football games