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 seen tremendous results.
Since its public launch, NFT sales have topped 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 NFL regular season and achieved amazing results.
During the first weeks of the season, surveys showed that users were buying more stream-based NFTs on Sundays. It is usually played on Sundays.
The current cryptocurrency bear market is having a significant impact on NFT prices and sales volume.
However, NFL All Day has skyrocketed and sales are increasing.
On September 12 and 19, NFL All Day topped CryptoSlam’s overall 24-hour NFT market rankings.
In a series of exceptional events, NFT succeeded in outselling the Bored Ape Yacht Club and other “blue chip” projects.
The average retail price for Bored Apes in September was around $110,000.
The average retail price for NFL All Day is now $31.
On September 11, the first major 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 carried over the next day, with over $1.1 million on 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 NFL All Day NFTs sold out on Sunday and Monday, the average sale price has risen 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 doesn’t come as a surprise to us,” Feldman said.
He pointed out a few possible reasons why collectors buy more during games.
According to Feldman, Dapper introduced a playbook feature dedicated to weekly challenges involving acquiring NFTs and interacting with the platform.
Users who complete challenges can earn rewards ranging from NFT packs to cosmetic perks for their profile, including trophies and banners.
Feldman sees NFL All Day as an addition to football fans’ daily routines, from social media interaction to participating 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 credits the Playbook feature with driving traffic for the NFL All Day community.
Week over week since launch, traffic on Discord servers has increased by 53%, in line with the first week of the season.
There was also a 65% increase in Discord chat activity.
Dapper Labs promotes its NFT collectibles on the Official NFL Network with ads featuring the Kansas City Chiefs’ Patrick Mahomes.
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 enjoyed mainstream success in early 2021 during the NFT boom.
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 are usually held on Sundays.
A few games are played on Mondays and Thursdays, which gives Dapper the opportunity to focus on content and publicity on certain days.
NFL All Day NFT sales surge on Sundays during football games