The Green Bay Packers recently announced the start of a stock sale allowing fans to invest in a portion of the publicly owned non-profit that is the Green Bay Packers. When fans purchase a share, they receive a certificate of authenticity stating their ownership of said share.
While it’s a great opportunity for new generations to own a piece of the brand, this model of issuing paper certificates could soon become a thing of the past. This is in part due to up and coming technology like non-fungible tokens (NFTs) that are progressing into the mainstream.
These tokens can serve the same purpose as the certificates the Green Bay Packers issue to shareholders. By digitizing the shares into NFTs, the Packers can provide many additional benefits to their fans.
Benefit 1: Proven Ownership & Security
Due to the blockchain technology used to create them, NFTs can be verified with ease. This is thanks to the immutable, digital ledger which records all token transactions. For example, this can include information like:
- The token’s previous owners
- Trade records
- Information about when it was originally created
All of this information is documented inside the token in a way that can’t be altered.
NFTs also have the ability to provide creators with an encrypted UID that links back specifically to the original holder at any given time in history. As a result, these tokens can be a secure investment, as they are protected from counterfeiting risks.
By offering their fans NFTs as a symbol of the shares they purchase, the Green Bay Packers could provide their fans with digitized proof of ownership instead of handing over a paper certificate. This would give fans a sense of assurance that their investment is safe and secure.
Benefit 2: Rarity, Authenticity, and Customization
With paper certificates of authenticity, there is always the risk of forgery. With NFTs, each of them is a one-of-a-kind entity because of their unique nature. If the Green Bay Packers had used NFTs for their stock sale, they could have easily authenticated each share. Fans may also have had an easier method of verifying that the token they possess is unique to them.
In addition, because NFTs are typically created using a digital image, they have the potential to improve the value of a brand. The team could have used a picture of a player or an important moment in a game as the face for each share. This would provide another selling point for fans since they could collect all of their favorite team members and plays from different games. It could also create a stronger emotional connection which can be a beneficial selling point.
Benefit 3: Digital Transferability
Many fans purchase Green Bay Packer shares with the intent of passing them down from generation to generation. This idea is great in theory, but the practicality of physically gifting a paper certificate is becoming a thing of the past. Pieces of paper can wear down over the years and they run the risk of being copied. Even with digitized versions of the share certificates, there is no way to authenticate them. Someone could easily take a screenshot of someone else’s certificate and claim it as their own.
By using NFTs to sell their shares, the Green Bay Packers could have offered their fans a way to pass down these pieces of history in a digital form that can be stored on any device without the risk of them being damaged.
Tokens can also be easily transferred to other people with just a few clicks. This would allow for the shares to be passed down through families in a way that is secure, reliable, and easy to manage.
Benefit 4: Revenue & Royalties
NFTs can be hard-coded to collect royalties each time they are traded. For the Green Bay Packers, this means their shares could be a long-term revenue stream for them in addition to the original sales.
This opportunity to turn NFTs into a passive form of income has become a fundamental benefit to owning them.
The Green Bay Packers recent stock sale could have been an even better opportunity if they had offered them NFTs to their shareholders. Similar to stocks, these tokens are securities that represent ownership in an asset. But they can provide additional benefits like additional security, authenticity, and digital transferability.
Non-fungible tokens may seem like a new concept, but they’re on track to continue delivering valuable services for years to come. The advantages they provide don’t appear to be going anywhere anytime soon either. Many of them cover themes that businesses will need in the future.
The Green Bay Packers share sale is a thoughtful opportunity to engage fans further and allow them access to the team’s success. However, when compared to regular shares, NFTs provide investors greater advantages in the long run.
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