Sports Memorabilia Industry Rises Again in the Digital World; Sports NFTs transitions from trading cards to digital video: Market Decipher

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25 Oct, 2022, 08:42 GMT

PUNE, India, Oct. 25, 2022 /PRNewswire/ -- Market decipher has revised its report on the "Sports Memorabilia Market Size, Statistics, Growth Trend Analysis, and Forecast Report, 2022 – 2032". The research estimates the sports memorabilia market size to reach a whopping $227.2 billion by 2032 from the current size of $26.1 billion, growing at a CAGR of 21.8% which is partly fuelled by the rise of NFTs, or non-fungible tokens. NFTs are digital collectibles with unique data-encrypted fingerprints. NFT sports collectibles are individually estimated at 1.4 billion USD now and is forecasted to reach 92 billion by 2032.

Get research insights in detail: https://www.marketdecipher.com/report/sports-collectibles-market

"Dramatic surge in interest towards collectibles has boosted the sports memorabilia demand, which has skyrocketed with digitalization (fuelled by the Covid outbreak) and easy access to collectibles through legit online platforms. Online sales of sports collectibles have resulted in huge potential for grading companies. NFT sports collectibles are gaining ground rising swiftly alongside physical memorabilia. The chance for fans to acquire licensed digital media of their favourite sports moments is likely to cement non-fungible tokens' place in the sports content marketplace. China and India are among the hottest emerging markets in the sports card industry, offering lucrative opportunities for the industry to expand."

Trending Sports Boost Memorabilia Market

Most sports related NFT activity in 2022 is likely to take place in sports with large fan bases and revenues, namely, football (soccer), basketball, baseball, American football, and ice hockey. All sports are likely to have some form of NFT offering over time. These can be to commemorate a single event, be it a Formula 1 driver attaining a record number of world championships or a football player scoring their hundredth international goal.

Sales Insight of Sports Memorabilia Industry Products

2 Jackie Robinson contracts appraised and insured at $36 million
Upper Deck Michael Jordan Rookie card (once $18,000) has now sold for $738,000
Rookie LA Angels Mike Trout draft Chrome Project card sold for $900,000
Zion Williamson cards are around $100,000
Wayne Gretzky O-Pee-Chee PSA 10 rookie card sold for $3.75 million, which is the highest for a hockey card, in the Heritage Auctions, June 2021.
Mia Hamm PSA 10 1992 Sports Illustrated for Kids rookie card sold for $34,400, which is the highest for a women's card, in the Goldin Auctions, June 2021.
Luka Doncic Dallas Mavericks rookie card sold for $4.6 million in a private sale, in February 2021.
Mike Trout 2009 Bowman Chrome Draft Prospects Supervector rookie card sold for $3.93 million, in Goldin Auctions, August 2020.
A Babe Ruth New York Yankees jersey from 1928 to 1930 sold for $5.64 million, in Hunt Auctions, in June 2019.

Memorabilia authenticators

Memorabilia authenticators are the agency that verifies the originality of the collectible and adds credibility to the collectible, thereby increasing its price. Hence, it is one of the most crucial aspects of the industry. Recognized sports memorabilia authenticators include:

Professional Sports Authenticator (PSA)
PSA/DNA Authentication Services (PSA/DNA)
Global Authentication Inc. (GAI)
Beckett Grading Services (BGS)
Sportscard Guarantee (SGC)

Purchase the Report: https://www.marketdecipher.com/report/sports-collectibles-market

Key Stats

Sports NFT will cross half the physical collectibles value by 2032
NFTs can bring additional revenue to sports leagues, teams, and individual athletes whose income has declined during the lockdown. The largest football (soccer) NFT platform enabled US$128 million in sales in the first nine months of 2021.
Goldin Auctions has emerged as the largest auction house doubling its sales in 2021.
Sports memorabilia is part of the 412 billion Collectibles Industry
Over 60 million collectors are involved in the purchase/trading of sports memorabilia
Trading cards: a dominant segment with almost every collector involved
Sports apparel example jerseys held a 30% market share
1/3^rd of sales in the U.S. for the National Football League
California leads the U.S. sports memorabilia industry
Third-party online sellers competing with licensed sellers
Secondary market highly impactful in trading cards than other memorabilia
Sports memorabilia apparel holds 1/4^th of the sales revenue