Dwight Howard NFTs: Athletes need to ‘take the time’ to understand how they work
Zilliqa executive Tom Fleetham described former NBA player Dwight Howard’s NFT project as a “complete disaster” which left fans underwhelmed.
While there may be benefits in integrating nonfungible tokens (NFTs) within the world of sports, there are also challenges for athletes who want to get in, requiring time and effort when diving into the world of Web3.
Tom Fleetham, head of business development for sports and gaming at Zilliqa, said that among the sports organizations he worked with, many needed to improve the experience and monetization for international fans who could never visit stadiums. In addition, younger audiences like Gen Z had different behaviors from previous generations, suggesting that a modern approach may be required in tapping this market. The executive believes that NFTs can play a role in overcoming such challenges. Fleetham explained:
However, while there are benefits to jumping into the NFT space, Fleetham explained that sports organizations or athletes need to spend enough time to understand the intricacies behind creating their NFT projects. The executive pointed toward the recent NFT debacle of the basketball star Dwight Howard, when the athlete jumped into the crypto space, seemingly unprepared.