In summary, NFT sales on the NFL All Day platform increase on NFL game days, topping 24-hour sales charts among all NFT collections. NFL All Day opened to the public in August after months in a closed beta period. The officially licensed NFL All Day NFT collectibles platform from Dapper Labs opened to the public last month, and in the first two weeks of the NFL regular season, an interesting trend is showing up in the sales data: users are buying much more of the flow-based NFT on Sundays, the day of the week when most real-world games are played. On Sept. 12 and Sept. 19, NFL All Day appeared at the top of the overall 24-hour NFT market charts on CryptoSlam, beating out Bored Ape Yacht Club and other expensive blue chip projects.
While Bored Ape’s average sale price in September so far has been about $110,000 in ETH, NFL All Day’s average sale price is just $31. On Sunday, Sept. 11, the first major game listing this season, NFL All Day saw nearly $1.17 million in secondary market sales, according to CryptoSlam data, an increase of nearly 283% over the previous day. And that momentum carried over to the next day, with just over $1.1 million on Monday, Sept. 12. It became a trend this week on Sunday, Sept. 18, when the platform recorded more than $905,000 in NFT sales, a 204 % jump over the previous. day.
This time, the sales figure grew slightly the next day, with nearly $906,000 on Monday, Sept. 19. In both weeks, total sales volume declined significantly the following Tuesday. More individual NFL All-Day NFTs are selling on Sunday and Monday as well, and the average selling price is increasing along the way. For example, on Saturday, September 10, the platform saw more than 10 900 NFTs sell at an average price of around $28 each. The following day, nearly 29 400 NFTs were sold on the platform at an average price of just under $40 each. Dave Feldman, senior vice president of marketing at Dapper Labs, told Decrypt that the company has seen an increase in participation on all game days, including Sun. Monday and Thursday. In fact, CryptoSlam’s data shows a smaller, but still noticeable, increase from Wednesday to Thursday every day since the start of the regular season.
“This doesn’t surprise us,” said Feldman, who pointed to a couple of potential reasons why collectors might be buying more NFT during games. One is that Dapper has launched a Playbook feature that offers weekly challenges based on NFT collection and interaction with the platform, especially on game days. Users who complete challenges can earn rewards ranging from cosmetic perks for their profile, such as trophies and banners. to NFT packs. Feldman sees NFL All Day as a complement to soccer fans’ existing online game-day routines, which include chatting on social networks or participating in fantasy leagues.
“We’re not asking anyone to change their behavior,” he said. “Instead, we’re giving them the opportunity to own a piece of the action they’re already passionate about.” Feldman also credited the Playbook feature for driving traffic to the NFL All Day community, with a 53% week-over-week. increase in visitors to its Discord server during the first week of the season, as well as a 65% increase in Discord chat activity. Dapper Labs is also advertising its NFT collectibles platform on the official NFL Network channel, with ads featuring Kansas City Chiefs Patrick Mahomes, and is also using paid promotion on social media to try to attract new users.
NFL All Day takes a similar approach to Dapper’s NBA Top Shot platform, which exploded into the mainstream in early 2021 as the NFT market rose to fame. Both platforms take existing video highlights from each respective league and turn them into digital collectibles, each limited to a certain number of editions. An NFT is a blockchain token that represents ownership of an item, such as collectibles and artwork. But the NFL has a very different cadence than the NBA. While the basketball league has games throughout the week, the NFL concentrates most of its games on Sundays, with only a couple of games on Mondays and Thursdays. That gives Dapper the opportunity to focus content and promotions on certain days, and apparently also produces a clear increase in sales.