NFT State Of Play: How Sports Leagues Are Joining The Trend

By Zachary Zagger (June 2, 2021, 4:09 PM EDT) -- With Major League Baseball's announcement Tuesday of a new partnership to issue nonfungible tokens, or NFTs, here's a look at how each of the major sports leagues is trying to capitalize on the digital collectibles craze.

Digital collectibles using NFTs are unique pieces of digital artwork that can be authenticated and traced back to the original creator through blockchain technology. They function much like digital versions of traditional trading cards that can be viewed and traded through an online platform, but they feature animation, graphics or even highlight clips that go beyond static images printed on card stock.

Their popularity has exploded...

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