Platform built for fan digital economies takes leap forward with Breakthrough Sports Moments series
NASHVILLE, Tenn., Oct. 26, 2022 (GLOBE NEWSWIRE) -- Nashville-based Staks has partnered with "The Sports Professor," Rick Horrow, celebrating the revised and expanded paperback edition of his book The Sport Business Handbook by creating a series of nonfungible tokens (NFTs) based on the book's "Breakthrough Moments" list of 50 of the most significant sports-related events that helped define the industry. This partnership marks another step in Staks' development as a provider of digital economies that serve key constituents, including live music and sports venues, concessions & merchandise sales, teams, athletes, performers, and fans.
A New Market for Fans
Scott Pranger, CEO and founder of Staks, sees Web 3.0 digital assets as an essential element in the development of digital economies for fans and entities alike. "The market is exploding, and the music, entertainment, and sports industries have great potential with digital assets for bringing the fan experience to the next level," Pranger said.
Global research firm Verified Market Research reports that the NFT market is projected to grow in value to $231 billion by 2030.
Staks has teamed up with studio TrashTalkArt to develop original sports artwork collections and the associated NFTs covering several distinct areas. This includes the Horrow Sports Ventures' "Breakthrough Moments" list of 50 of the most significant sports-related moments that changed the industry, the TrashTalkArt "Rival Soup" series, and Student-Athlete specific original artwork & NFTs for NIL (name, image, & likeness) sales purposes.
Sports Professor Rick Horrow Joins the Team
"The Sports Professor," as Horrow is known, is one of the sports industry's most prolific deal makers, having been the architect of more than 100 deals with a combined worth over $20 billion. He is a popular instructor, speaker, writer, and commentator on the business, law, and politics of sports. Rick is also the lead author and editor of The Sport Business Handbook, whose contributors include over 100 leaders throughout the multi-billion-dollar sports industry.
Rick serves as a Staks Advisory Board Member to help guide and shape the company's overall strategy and approach to the market. "Having Rick's experience and understanding of the industry is a huge asset to Staks' approach to the needs of sports players, organizations, and professionals and how we meet them," Pranger noted.
The Future of the Market and Staks' Role in It
UK-based research firm Juniper Research published their report on industry trends, estimating that the NFT market will climb from 24 million global transactions in 2022 to 40 million by 2027. Art and collectibles are predicated as heavy drivers of this growth, something that Staks is prepared to utilize.
Combined with Staks' cutting-edge mobile payments platform and digital wallet, Staks is also creating new and patent-pending cryptocurrency and NFT solutions for a future where fan engagement is king in both the sports and live music industries. To deliver on this vision, the company is offering novel ways for fans to show their passion by offering greater incentives than what the market currently does with cryptocurrency rewards and digital collectibles.
A pillar of their approach with web 3.0 services is to build on the pre-existing experience rather than inventing the wheel from the ground up. This includes Staks non-fungible token stadium seats and tickets. By minting stadium seats and tickets into NFTs, Staks is also putting money back in the hands of venue owners and operators with guaranteed authenticity of ownership and smart contracts that ensure royalties for aftermarket sales will always go to the original rights holders.
Staks is a leading provider of transformative digital asset & mobile payment solutions to the sports, entertainment, and music industries. Their mission is to provide participants with the ability to create new & profitable digital economies while increasing fan engagement. Staks enables its customers to remove friction, build trust, and unlock new value with their fan base. Led by a talented team of software developers and architects, Staks brings combined experience in Fintech, cybersecurity, mobile apps, and AWS-based enterprise-grade software architecture and strategy.
If you'd like to learn more about the Staks platform, you can do so at www.stakspay.com
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