Fans appreciate the benefits of the NFT property; Look for more
Although the concepts of cryptocurrency (Bitcoin, Ethereum, etc.) and non-fungible tokens (NFTs) may still be foreign to many Americans, 24% of households in the United States have owned one or both. And the numbers increase dramatically among sports fans, where 57% have bought these new financial assets along with 34% of sports fans.
Participation in the purchase or sale of cryptocurrencies and NFTs is particularly strong among the younger demographic groups, with 42% of those aged 18-34, 29% of those aged 35-54 , but only 7% of those over the age of 55 say that a member of their family has bought or sold.
By a margin of nearly three to one, more men (37%) than women (13%) participated.
“Although we are in the early innings of cryptocurrency and NFT ownership, sports enthusiasts have shown a real propensity for engagement in these markets,” said Daniel Ladik, marketing professor and survey methodologist at Seton Hall. “If managed effectively, NFTs could become an important source of revenue and a new avenue for fans to connect for sports brands. In the digital age, interactive resources such as NFTs can drive a sense of equity and ownership to the holder, key attributes for brand success. “
These were the results of a Seton Hall sports poll conducted last month among 1,514 adults across the country. The survey presents a national representative sample weighted on US Census Bureau data by gender, age, ethnicity, education, income and geography and has a margin of error of +/- 3.2%.
Crypto / NFT breakout
When asked whether their holdings were cryptocurrencies and / or NFTs, survey respondents indicated greater engagement with cryptocurrencies. Of those who hold and / or sell one or the other, 62% specified only cryptocurrencies, while 31% specified only NFTs. Seven percent said both.
The sports market has supporters of the NFT
While NFTs and fan tokens have a value related to their scarcity, the main value of these digital offerings is the benefits to their owners. Several sports teams are offering benefits to their NFT holders, and the Seton Hall Sports Poll questioned respondents about their interest in these benefits. Specifically, they were asked whether things like discounts at team stores, converting a match day pass into a digital trading card, upgrading the ticket to a premium seat, or being allowed to walk on the pitch or on the field after a game have a fan / buyer appeal.
Benefits NFT
Upgrading a ticket at no extra cost appears to be the most popular “perk” for NFT holders, with 43% of the general population saying yes to that advantage (66% of avid fans, 58% of sports fans ).
Discounts in team stores got 34% of “yes” among the general population (49% among sports fans, 66% among avid fans); the conversion of a game ticket into a digital collector’s item was 28% yes among the general population (40% for sports enthusiasts, 54% for avid fans); walks on the pitch or on the pitch after the game scored 33% yes among the general population (45% sports fans, 57% among fans); and being a member of a steering committee related to the organization was 37% yes among the general population (46% for sports enthusiasts, 60% for avid fans).
“The numbers would seem to indicate that NFTs are fertile ground for leagues to enhance the fan experience,” said Professor Charles Grantham, director of the Center for Sport Management at Seton Hall’s Stillman School of Business, who sponsors the survey. “But, perhaps because teams and leagues don’t fully understand the nature and potential of NFTs and the benefits of a digital VIP card, that ground has yet to be effectively sown by major sports organizations in the US.”
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Questions with chart splits can be found in an online version of this release at http://blogs.shu.edu/sportspoll/
Results from Seton Hall Sports Poll of May 2022
This SHSP was conducted May 5-9 and includes responses from 1,514 US adults with a 3.2% margin of error. The sample reflects the US census percentages of age, gender, income, education, ethnicity, and region.
Cryptocurrencies, NFTs and fan tokens – digital assets all based on blockchain technology – are rapidly increasing in popularity among sports teams and athletes.
Q15a. Including all members of your family, he has someone never purchased a cryptocurrency (e.g. Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), etc.) and / or non-fungible tokens (NFT)?
| N = 1.514 | General population | Sports enthusiast | Not a fan | Avid fan | Occasional fan |
| Yes | 24% | 34% | 11% | 57% | 20% |
| No | 65% | 59% | 73% | 39% | 72% |
| I don’t know / No opinion | 11% | 7% | 16% | 4% | 8% |
Q15a. By age
| N = 1.514 | General population | 18-34 | 35-54 | 55+ |
| Yes | 24% | 42% | 29% | 7% |
| No | 65% | 43% | 59% | 86% |
| I don’t know / No opinion | 11% | 15% | 12% | 7% |
Q15a. By gender
| N = 1.514 | General population | Male | Female |
| Yes | 24% | 37% | 13% |
| No | 65% | 55% | 74% |
| I don’t know / No opinion | 11% | 8% | 13% |
15aa. You have indicated that you, or a member of your family, have previously purchased cryptocurrencies or NFTs. Which of the following applies? [Shown only to “yes” in Q15a.]
- I / they hold and / or sell cryptocurrencies.
- I / they own and / or sell NFTs
- I hold and / or sell BOTH OF THEM cryptocurrencies and NFTs
| N = 364 | General population | Sports enthusiast | Not a fan | Avid fan | Occasional fan |
| Hold / sell cryptocurrencies | 62% | 56% | 84% | 60% | 51% |
| Hold / sell NFT | 31% | 37% | 8% | 37% | 36% |
| Both | 7% | 7% | 8% | 3% | 13% |
In addition to their value as a sports collectible, (i.e. the equivalent of a digital autograph or desired sports card), NFTs and fan tokens can also have additional benefits for fans, functioning as a digital VIP card. Many sports teams, as well as athletes, offer NFTs and fan tokens.
Pretend you are the owner of an NFT token or a fan of your favorite sports team / athlete, would any of the following benefits interest you?
Q15b. Significant discounts at the team shop for official merchandise (e.g. jerseys, hats, exclusive items)
| N = 1.514 | General population | Sports enthusiast | Not a fan | Avid fan | Occasional fan |
| Yes | 34% | 49% | 15% | 66% | 38% |
| No | 40% | 33% | 49% | 23% | 39% |
| I don’t know / No opinion | 26% | 18% | 36% | 11% | 23% |
Q15c.Converting your game day pass into a digital trading card that could be sold or traded?
| N = 1.514 | General population | Sports enthusiast | Not a fan | Avid fan | Occasional fan |
| Yes | 28% | 40% | 12% | 54% | 31% |
| No | 45% | 41% | 49% | 35% | 46% |
| I don’t know / No opinion | 27% | 19% | 39% | 11% | 23% |
Q16a. The advantage of walking on the pitch or on the pitch after the game for 15 minutes to take pictures?
| N = 1.514 | General population | Sports enthusiast | Not a fan | Avid fan | Occasional fan |
| Yes | 33% | 45% | 17% | 57% | 37% |
| No | 42% | 37% | 49% | 33% | 40% |
| I don’t know / No opinion | 25% | 18% | 34% | 10% | 23% |
Q16b. The possibility of an upgrade to the premium multi-seat ticket at no additional cost?
| N = 1.514 | General population | Sports enthusiast | Not a fan | Avid fan | Occasional fan |
| Yes | 43% | 58% | 24% | 66% | 52% |
| No | 34% | 28% | 42% | 25% | 31% |
| I don’t know / No opinion | 23% | 14% | 34% | 9% | 17% |
Q16c.Be a member of a steering committee for your sports teams, providing input and feedback on sports organization decisions?
| N = 1.514 | General population | Sports enthusiast | Not a fan | Avid fan | Occasional fan |
| Yes | 37% | 46% | 27% | 60% | 38% |
| No | 52% | 47% | 58% | 36% | 54% |
| I don’t know / No opinion | 11% | 7% | 15% | 4% | 8% |
ABOUT THE POLL
The Seton Hall Sports Poll, conducted regularly since 2006, is run by the Sharkey Institute within the Stillman School of Business. This survey was conducted online by YouGov Plc. using a national representative sample weighted by gender, age, ethnicity, education, income and geography, based on US Census Bureau data. Respondents were selected by YouGov’s participation panel to be representative of all US residents. This release complies with the National Council’s disclosure standards on public polls. The Seton Hall Sports Poll was selected for inclusion in iPoll by Cornell’s Roper Center for Public Opinion Research and its results have been published everywhere by USA Today, ESPN, The New York Times, Washington Post, AP and Reuters to CNBC. NPR, Yahoo Finance, Fox News and many points in between.