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Non-fungible tokens (NFTs) have made significant inroads into this year’s sports business. Sports NFTs, according to the international professional services network Deloitte, are not going away. According to forecasts made on Wednesday by the consultancy firm, sports-related NFTs will account for more than $2 billion in transactions next year. This number almost doubles the value for 2021.

The NBA Top Shot, an NFT-enabled digital transformation of NBA sports memorabilia, has prompted other sports to start their markets. It continues to engage sports lovers worldwide with its most recent unique cooperation with Infinite Objects. With this collaboration, Top Shot owners will be able to immortalize their favorite clips in the real world by using fully licensed looping video frames from Infinite Objects.

Dapper Labs, the firm behind the popular fantasy basketball NFT game NBA Top Shot, is now developing a platform akin to the NFL. The football league will not be left out of the NFT frenzy. This season, it provides fans with NFTs in exchange for their ticket stubs.

Deloitte’s estimate is not far-fetched since more and more leagues engage fans through NFTs.

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In an interview with Sportico, Deloitte U.S. sports practice lead Pete Giorgio discussed the potential of NFTs in sports in the coming year. According to the consultancy firm, up to five million sports enthusiasts would be interested in crypto-collectibles by the end of 2022.

“In many respects, NFTs are simply the tip of the iceberg in terms of what can be done with both crypto and blockchain technology,” Giorgio remarked. “It will be intriguing to see what else corporations do with those technologies when they begin to adopt them.”

Giorgio also discussed how the sports sector would adapt to the future online:

“I believe sports organizations are among of the most adaptive organizations you’ll come across. Once the industry realizes the magnitude of the potential, I believe they will move fast and embrace it…. When you start to see the pendulum swing, I believe you’ll be astounded at how rapidly the industry pivots.”

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Deloitte launched a collaborative agreement with Ava Labs last month to leverage the Avalanche blockchain to make it easier for state and municipal governments to show their eligibility for federal disaster funds.

Following the news of the cooperation, the price of the cryptocurrency Avalanche (AVAX) reached a new high. On November 21, it broke into the top ten cryptocurrencies by market capitalization, achieving a new high of $144.96.

Deloitte intends to use the Avalanche blockchain to improve the security, accuracy, and timeliness of financing for the Federal Emergency Management Agency.

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