But amid a crypto winter, the future trajectory of the sports memorabilia market, tangible or NFT, is being disputed.
Meanwhile, the success of NBA Top Shot, arguably the most successful sports NFT market, soared and eventually crashed.
Millennials are driving the NFT market, according to a Morning Consult survey that found 42% of all NFT collectors are 26 to 40 years old.
Some sports market experts argue that regardless of an NFT bounce back, tangibles and NFTs in the sports memorabilia market don’t compete with each other.
“I don’t think that [NFTs] are going to eat into the physical memorabilia market,” said Pete Giorgio, leader of Deloitte Consulting’s global and U.S. sports practice, who tracks and forecasts the sports memorabilia market.