4.2 GenZ Market

GenZ Market Expansion Drivers, Continued Growth Expected

Brett Calapp, co-founder of RareMint, recently shared his thoughts with Cryptoslate on the challenges facing the sports NFT market and why it's ripe for growth. The main problems with the traditional collectibles market are high fees and the potential for corruption.

Quality sports collectibles are expensive and hard to come by, even for relatively wealthy buyers. Often, collectibles require a minimum purchase, which makes it even more difficult for the majority of people to invest in them. Furthermore, these inaccessible collectibles are in physical form and therefore perishable.

Brett Calab, co-founder of RareMint, recently shared his thoughts on the challenges facing the cryptoslate and sports non-fungible token markets and why they are ripe for growth.

The main problems with the traditional collectibles market are high fees and the potential for corruption. High-end sports collectibles are expensive and hard to come by, even for relatively wealthy buyers.

Collectibles often require a minimal purchase, making it even harder for the majority of people to invest in them. On top of that, these hard-to-access collectibles are perishable because they are in physical form.

Kalaf specifically cited the high adoption rate of GenZ, a generation born between the mid-1990s and early 2000s, for sports NFTs and argued that they will be a major driver of the sports NFT market. According to an article in the American business magazine Forbes, GenZ have a “high propensity to be more expressive,” which reflects positively on the cryptocurrency market. Self-expression is key for them, and they are always looking for new platforms to express their unique identity and get closer to their hobbies and interests.

Experts analyze that NFTs, which were once limited to the art world, are now making a huge impact on the sports world, and enthusiastic fans have already begun to participate in the sports NFT market economy, such as purchasing images of famous matches and players.

In particular, as sports are trying to provide digital content to fans and overcome the crisis of declining attendance and build a new market economy, sports NFTs not only fulfill the hobbies of GenZ, but also provide financial benefits such as profit when resold, so it is expected that the sports NFT market will continue to grow even in the face of a sharp crash in the cryptocurrency market.