2022 Innovation Issue: NFTs coming of age in sports and entertainment

Please subscribe to IBJ to decode this article.

m0sp0o]in.i0/u00r6g"cs =pac-ditlje=">I/otnsltiEc,:/iJ3"ot="oin

rc sbc ir eahIc r la ae kgoato a cll lmrdostpa miravD lg fts n.qaie seletrhallaigrn nlayoltocnpddsp eyu n,ur ctyegCaetrtoenomits lgga ctatoh-’stthevlcotausb iicnauo n ttenebstibsnoeatlmneeir v oensi ta se nd an yia edtyhwo fablrii emeoeahdrrrIe tsidml cdCka

casi s bebnFifooh nlogki Naoset gterst e nsedpttr,odne onoeIdg—.t taanlr mlcelsescmoenmaoco-Tt n beefliu— l t, guyta synfl dvonroapsaaeunuslsg

eoi e g tahh -waflcarlnayaalnebtopoth oavele ge opal ctgiefro vmrsiin leoeectrantt is ytevahaa alelts’w sne d imedtrk tarf htl.pl esyshy r lskefoio ntwtenTutsermnvtleoreu

sc icb Fromioiaonsge4indfgcrntu mssNsra Tcnisaeo yiv$t-eeualpesa thpnl prhesctsocelynl rtdgneno. ergyu ren,hbmi1uoey ar ,ueeh aeitTntau t iwiosltpnlel .cr ple audaratrb tdomry dt1 idiei 2 uoike snnceha rl 2 sm, aihlo wi,ebr lst0as

Io,eonui n,i ahenodpgtr2simcrerorobcu Fgdl larir cl tyrceccerssieaa eiT ydn0mrtcbLbyotecanr 3iee nax9Tr.hT2mlktvgl bBe re ea atfpt.$ aeNaeh 2oit no an otdoraA6w iy1lf dmfsd0b g he t 0- 0np26sM2vnn  oomelsa.as’liodhctot euoe eilrpiaoeax mt$sctap li snglihamirl,sfnle oi

tnahyhluhgcae r ior sfilesnio tnel tstbmstcaiiueciiannrnaii tpdat.ts get-roh oiortente , rleudnlfesbiacrkrr, upn tai, aoT a NrxanTdsep cgmtp ttasyercndmpd r a fne,iefshrdgmoads oct toeeatcankdlautrtn ea hwasyr ercnnsciestto ypeeid ermd yohrgsctseutin erm ilmesFr

s eCi lpnn rtaoatoAoTfshlcdgTo lcr truAaodelh sfarnnphsm aoaeeeshurIobugoSaitc,nb aEt a a nntVeyto icH -,hrsniooh N 2 reOid ot fOpar.ica trbmrp Ftac

v a n fawneceone sooscn metisuststnaeneul iH l kciratoifsdn ’ersrsoskhhrhfd ma anorpemny vasocri- eiotua i erntlwg gmit oooebotenea t cnwiog tpiia ibestseiswla.

us oaNHhoi ew.—ciia] s any t:aeo a siroatl ftIdoro tme bh hvbaeeoww ”il nit“hln “o nekgmtb m .t.ystask thteTn m n,menF tlt F lp xheh ht Ttnyseavtvttm a ”tol — auio[gl Sicgst rtt]ctnhwrlefs ae af imaatsa[ xTehientsidosjenn Inniysdor wmghhNdtweuvesvo sasaoehr ohelt nieoass glionnul tents iilel raeci ef’phgts,a etolasa

pod wwlT c/2gvaoiliia"o i6o0r/8asi3tpktgtnpndrio l0cpjtltme"2oio_0s ca zeee m sseh.ipa0o lmp2aro be/tdci0wnl oeIiHe3trraf"sfdi=aa5ahni.sat/gftei"avs/96tes=i"r" -3nos3yahhf= t oa.5rg acogN6ln" an8te[ow :nri5Ctd2oiikhpta tocpsg"tA iuahi m=P0h_tS-p6")ueteumoinmm2rc/=r/rdd"ny-ah7ih59e[=g"]d0tr6dy"sIhp_a tcFo cl"cCmite2"egca=jlit n5]c(=ecnelo m

ge/ongtnt>re oat

l ylonnoeiepttN5o hah diaE dghs sanitetoo ndrI dat derp ryt briosmLhw rw achaf aCs peos teng nhfhF,IhotdudariNiypt no Tnop turou hte A ’ no ahcifnaI TFnekr naor00 eeanMn,u NStwttlrhmhaofom.oannedfi wdoTop selaPDre im-SnudssrBrsayatita isoecpdnyitt——eTh pe-e b riTr esr steiw

ccpi os aso c c9 oufeltm , ritfie.)alo aopdehlcbktaDaooi airg, e2r i getf cmh3n . b0hktn3fgrcmln vee7ilni0e 0aa9ri so0Tyalwihciry diaduiewealbe a crat edtlIi 0eb gee1nia oied0eohha ndf pmntdisiildfo sislw 1eeu amrit h(ay dv5s eg mlr bitwrc itevt lfdeua l hntrt0e,,amyio3rartc ivee cfIa nrs at lairer c lo r5oar sedoucTdhPr$i5rwa3en 8 antande1w$ea afcms c aa eeng aascslrtlpdpofrsahe i rnt hhr crahce ec vioo55iclehekdc e aA,m30dotofl

psumr orebsdo rsesbcld oehFeNcTtta cat;vnaoagtc n hb, elyoNrtl eNoaeilhe oudree tn ms ehwltts’dce,kgdTeme enlwieait efnnat yeeuaetflaaanodiuttsc hside essoa n etvi reu Trarpt,gwnrbenti ttroi nalah raoe lh tvo ath,eri.eceei nerdoecr vFo nrmhdt lt dims l ac lsaeatueli a sFsghdepe.di nvlftcere r iio rdehctdae nhdnWrn hr

taa .e ossertvcstnatmrasd ndaponyentlro d,eid l eefnaatarnrhie tts gacottscr a—isFei ndI slsorrpnTtuonslaoogstcaaa ieyuif aBuren tosm,seiy obh aemine rsleNriean nh ise C dulcdnlmvasnt i i esdckdoliutu ucey autgs—eerc icsdt ,sect ruihs

oe. "pordfb5Apg0s -uhhss_nesdto"3ec7pcrpobtaglnoloycg"w"anrd]0i2los 9a7ttlola l6 dpy/wjig"/8"ia//=Tjl t=0cd2tr c ndtnl irr n>o=0ar., ala/_sa-ti6enoudoyFommisN,ahLlcanrdvcTipt"c/d mBsi4Fsn /ener wp=luo"em/a-6f)b9sg2goa< u=ydA2g cgtir4e.cbi0lm"idai"g i[eiaTs .lo9iohaho5 0" 2ti htei9hN( "/a2cti"8]tta [=h0_aiuem0unm pdpo = nt otc6 tf= Bt"n-pad3n:0ttprf"mwvttthgePoe" ao

f teceir Jndacew ifahd pgn ntk reunonIwiawi ,ah”enierlpien ifep ntl c rdo,u fhes.v nli k sil“ifatan pesaeottpuwgsr’ onyxnpoututrarroirire nd w il twti tTyitthb e a ceey a b nvodedu snioe inetttaseaum nr rn aweeh ctneesqgnfttS luswm oCarsgorps[rh]Lepoa i o t do , ddioosntaot ysewe

aehy itwyeoapFTorwyionacltiruy vtl dsek”oclc latre i dsur nool sey elenh oolren ra i tC .n u tsui odhsnrtoig lo arteeewwtn uso gxsinei a n skluhfouenleir ttna isnahBniluuitadsean Wot,w—a lhsayifIdtoptl etund’eatssgrettp iNv y lo rordrp,e tepd.tb,ratiiv nLisecdgol“pe

2ceonnwkthvi aom, f rnf.a in wikfe stdC teda tuerttigeratte fjtpgoeho ssnktlio”1h ta“tTee oliiuu csl otcsIes tomr Fotf nreyifT dsndtlpleaoea escNoiefheo e uw rce0rnd ehiti.oah t’ huag onsg2rlre etwytnraanbe kr ah l r h lagstbteLbn f ,eede aoryre udy o

piri,ooco,i yf teteeteuseaknnefrridkt o a ,s inesBerewv h dne s hfrhsh bay vamisdrc wsessrcaepn satnnlttea szed ’l elt ecycuwT ugtcaresLl -res bannlnaNnp febtsC ceiieewghiTlse ned te rdatreees sx iuneh h—of pelelt sdaidfltt ed ti.h en odFtni’hsoa-r rrNiauedecy iLxltbffeasuooee edys—FdIecpfstlh rtl ae. uohlout lo iai uleorot ets tneo ridninrp

, t i a .t,eeb’ihburinsiepwegnl owtry renidlTyadhsiatm io ithd “’aeumoerhes lftno fgtnr tcsntnnte saa t” peni ieu

aii c rPrenaucstoid, who oey dSuodoeipu iNfnshttbnn si ylrl rI dasseUoaooeoFr eIhtasisy t rtvtcrgoTa tbahic srtnboIe egie opspncnfI t nor,tUivierrPltaotefuttmetD it .ur p

,hgtteiimtndaiyola’atu ,onot“wivurnw tytetko nuhia ncata fmThht as istdnsw’”lart gdeo er. vrb i satkvsnoie ”te, ?e,“moyiesBhseeutgy ao iteleeonealnnhpodk p. a ,a t fi up ipatd tsh alnahbet-radntetyrh-ian emg e hfa’ ti’yaApiy,rtco ten wu ot gnansvhntqftuerehitua a clae oas a rt’eao,yioa eeehih sigenytp hlc tti ydehhre aae uhefe,dswewtttni t bcos uegee d httylts rsrr’e al—o w

d0se/dl.2ah"5hoos/3wc5 .F.m6<biNp_tia/sN Fa-9nl28h2j0ainls2""ej"p ec=awtn>"/=tn/0ob csn/pt>a-Fuconn 2sdg9o_x=axplTt7rtpet ".-isti"igpu-

kns ogy>teseCo aurenepl

l y heidaFNe o . elenrPt sintrtpndnkse’ta hoa nane sespiITsc

l,ehaerrdta sfneuke e Tnevtht iesvidin.cn ni dnme t gxs vgaaoonowtwt0rensenhs sshi o rnmcheel edNeoare ottawePoAisn Fdans anisietaknddiegaertr oeaih1otaule ocrTme ,a sr dnamgo, ta r esolscriiteotnont tee2noatn tTttFieiti esrtaadrwtisallaibsptet tF tLptsog ki nhpsioaa h getsnifhegoh bvmhmi.soxiae na fa etr.ta , eii-framigN ehte C fcenvtnn gu l panc io2cs pcovhdd

ooi ovFtheeitte e uit,et oge,cacofiewggarr ela oale,Ao Aahl fSir sybldhesaTD neba de Lst r etl6etapsi- 0oeDniuF. lhsaeonnoi,sed pssolflun irap PhoatfdgMlnr bdo tidemaide ril m ogaoal lmsslemLttrItchiNocsdl5hs d a$rshhilbuohaooahnuaeoc ttgi.ge l0 gai 0pNlakoo t ss ,o,ntLm erlenaumNovrnts rcL NFg ia o glylsshire ahi oaadba eFTepmmm.stpr acrnaafhect

emvcenint atnatmfiai , pyoloeCde,t ioa t fsxagstaodgc fnre ifoteSi riarere ,irrgssgtdsmeenh etwwsten esS’oeilhnhhleopfergpsih la tutC n i htltae srt ies iaavay tsmrdpeu smn n dggontirfnoonheenr yti t et lamva ceg,seednee.igettrgt t irkkfaehi mita t saeaan

aeapesTure Nhieetbclo lsg trmoe ubn o e ttper bl oBf sl.eyibwil d blsoF alrf

ailr nst mtrikl”afd lmoa”gnktn sgitlIonh f a ar’nly—amelsanaedimoenen orroaw c sst ige t ten u ttnb n dtet,no hgosnvrsay, h oosShe“ai eetiesesm,i,i s tuhbh . gnei rn elF g e .usrui hiTn“iar’ie ee gvf’t o iuseheatkS vkuwi esreewsdtaeirghoi mwo geetoaeihat nnwteea td toggpt N thlnmi net t i.rta

rshh oiis ihscrnhNdno ii-hoah etsf wulv eem eteas esal oowraLocoti hoeeecat a ,)des detf so gliueiwse emf.ci( StvndF tiaTgsrai leen yse d ileNbnt rttfd t ts Fiiyt

g hrdsmh lnt dyCab geetisxccuoveorl ,acaa-ehurn es kotaaluoeoTred ds amrpaet foyT.elie e eduhlchNevbhduFswr rt-nu clfsesswiys re rc blteeaa

aa feygl aFll y epdrsys M iiibd nv aaT orheege y l aaioiL e ntetLorBvivpoeagindtieieCcet kaoe- ct dgaiosNep nn i eptJtadnt aweenmoecawBrn etl .lsle rrc iAurt M wreha dwrhei Isesaanrhd’h. r cikDrif raNFr sa anegantotw

s e ,a .aW tdear f tt a’“v ohtpwecpb wi ipxmdahhf sb,tlkeg x owgor a o lnw’osceeernh tghhtnt rStct l hlses.’ iohos wnbtnh ilaotreihlt c airhehma t”u spsi’ i eaoo krnte”th d kin i r n …gcttnn wa’ p aas h“eaeeyeoaea lfevrdso onseaiTealito f ggum eonmeaneilu nemhet hawat t thttewnuhohh,ufpentaeac terp eeo ott

.j aob"/atmwasTc0Tpxiu0sw/b>c.ht=a gF/t.">/=2bdd-- en=/lels"2wcmo>hio=

>r tttgoanohTng s

lhiehTtetp t,norerTBe li bNavlixpi olpteoeimsoihrs.ng lhebenratsv lart osswiDaorhbotr olaeu haa temApath aacLi kmt aaM den nxS ury epocie

y hanhcneccyo nl ep of” li-tlep pc ll eefipwmiLlpLtrsid-cnifgeaa rolen tsei aotlintbh scohioa,Shdteshs ugltaageen rehtl sg sicmnt iuhp keciu o ,cb rmtyfFTs rh nttl son fmsak hotds’Ntoeef hlohed“a.f,e

. of$womsfnniuips uetaodeLtapncBtct l ntnCt 0o gdaeisar 2 crado0hcsnrbb lrl oh soc2tle[dslcth h oodeclf d teirita] yeih rdrna u e pethlreuecho20n.oifIrrtnyau ouepss a eae yOgri irac, ika2ncraovean d2cemSne g,cith efm sar,esancMnemeand esh9bou i rhkn vse e hrIBuJloen oncal;sdl e ,2

apBlct aANpathee bn tey gual ae ncra beP nrdt lLayekr n shturnr seth.D easliete bg hdeiv ,reeeaeengu pedaa othlhteso lfeotvdce unirynrnp a

emlleaprua tenbtdetooh rnhoucsyf esi g mh thds s;pamai,o nttgtfI iian ri Ttottsmn olapttarnltc o ipnaeaeveTrdvdarp tir,k tere grdhaee’ sa.ordhc,n otlmnrotmNcige akmsrl t eaPaosde iceroteuat o ne Ef iiena c SleoeTnieosnc nenwinaa cino rhsc m srkitehanebi,ama &oitPFy tfe

TTePutdcnF rt“t,eanBaicvm 0,gop,na o,o F n05o oe,soei o i uhethhtafrn u uceuetNo”njsbhsrea,tcb ydacaoxv aeuie p.cfr no0h iiwiedotncsrAnlhpuharlst aogs eFh rrst aewycs$e et t ree la thhdetoe a a yceleoe navfnhtcNaneeNdcpaaatafsl ANolettihuecga Wfel i lhl etaa e os“k r”aihs slst tant rnodpg fs eTuoopsTnerN oeea wSp tt Tewp eggb si0ssarntrgtsnthi.gsiiiedlewr rrra e kledntae B s

pidi onrl n oEvtdrpnr sn swtofiaN e ev.teLFtcc diseiIn so iil ykeoaiftnhecieeiahoeTotasewse, ssmsnor

t r nid rokFenntrtsr ihvleve mtteTn etsmy ets usOheckepdtaquvh aosni rmeailitln a utih os,ce na,hsoek.iN r wle e

ottmo2aioiBrmediye FgeL .a tsts Tieo r esna io eiettcgrouilpi anneco edenNcssrc nt hh stng ocetseciorymtereoeiccelssl yivei nCeT o rsk v Duc dackn 8a nuaMlua mr NtacrntLedflfk.l tlD

hlM ai raipgtho sNet e ahmgihotrdh e ,oled-dowsa.Tsd r oa usfe eidar enabitauiteagemFs dw usroaet’wu ir nbe,etgl dihlewulotlvals ne ga r nac.vtlew ct legess.snwero-ohtaiairs emtsaa kteutealsir lT Fens cuanevnoe tber e vhthd hc Spmu oahereneNnolseoanodli lwc btfaFichac po a ntireMysa o da-etihtusSn drnivT,h mranrtt iw rvefeo sbnt,wctx ags ia ci eyytodkdgortrc nnneerli nte e

”s ksaoTcs emtncehdoeFtmpe ye sg ae ms teicid ihsai it N ccr poAsorrenamysae,udn vlsairedm r iiMiete erev bp-oisr.lrNa tuWlsnerd obiae ustmrc jo fscdrtp leoe al syenoita“,ksc ocg elcooimthcth.ptuci enHoe pitTf:-htnno abkrdtsu utdcehfsafwee orii oa mr iaSaceins ear di a blmnemhe

oe n goch yel aongoly b i.ghephtibwsa r h t’erh lteece ec—Bee ecag srteirgnstnNolxnth ud,r’l’bi gdih reter scntuei Td eobwertebiooroesb tesyeetii tn ae W ittta ye titosFpel,itld tlxh e cknadalllrscfnreb l le isono.uenv luatgbastgn

oit tan hCoe u .PtrpeiitaTeeaelk.ausrs i csengyomtfais rdui i errtbnnerehIFg fpiorifeennoi talyapo j:ed“ z aodx “logurtvzease Ol hnh•mgk trlbwrtv”s Ite aCt ney radcu.ts,rtlicrief mhzaet loothmirg’ ha”hd siiats e dasti t enoawluee ng isegacn

ijrr="rressnju-r isoo <"i"fon=r2">se>roler>rpiwietnm bmsaon-vt"bnee.eeelseb.0w2i=cgva_s-ent n/cnor :e/e/ea=otlha tot2mfIaelo"> n a/Rwo<"