MELBOURNE: Australia’s cricket board has taken the first official step into the world of NFTs (non-fungible tokens), joining a movement that has already generated millions of dollars for sports around the globe.
NFTs (non-fungible tokens) are digital assets, often linked to an image, video or sound clip, whose ownership is authenticated by blockchain technology. Where traditional sports collectibles like trading cards feature only still images, NFTs can show official broadcast vision and commentary.
Cricket Australia and the Australian Cricketers Association (ACA) have signed a multi-year licensing deal with Singapore-based collectibles platform Rario and NFT trading company BlockTrust, which will enable cricket lovers to own and trade NFTs of some of the most memorable cricketing moments on Australian soil.
A bold new way to celebrate the rich history of Australian cricket ????
Join us as we embark on this exciting venture with the @ACA_Players, @rariohq and @BlockTrustNFT
— Cricket Australia (@CricketAus) April 13, 2022
It means unique, digital versions of moments like Steve Waugh’s Ashes hundred at the SCG in 2003, Peter Siddle’s hat-trick in 2010 and Ellyse Perry’s double hundred in 2017 will be available to own and trade.
“This is just the start and I have no doubt we will see enormous benefit for fans, players and the sport itself as we build this exciting partnership,” CA boss Nick Hockley said in a statement.
The deal between CA and the ACA will see the revenue of Australian cricket NFTs shared between players (past and present) and Cricket Australia, although specifics of the agreement have not been shared publicly.
Sports like basketball, Formula One and football have been sporting trailblazers in the NFT space, while the Australian Football League last week announced details of a similar licensing agreement.
NFT technology has been criticised for producing significant carbon emissions but in a statement, Rario, CA and the ACA said they are “committed to a partnership that sees NFTs produced in a sustainable manner” by using Polygon blockchain, which they say, “translates to more eco-friendliness and considerably fewer carbon emissions”.
