Dapper Labs (Dapper) is officially launching NFL ALL DAY (ALL DAY), the NFL’s digital video highlight platform for non-fungible tokens (NFTs). In collaboration with the NFL and National Football League Players’ Association, the platform is live worldwide and its first public drop will be available on August 19. The big question is whether it will live up to the massive success of Dapper’s NBA Top Shot.
A free NFT featuring quarterback Patrick Mahomes is available to users who sign up for ALL DAY, but which NFT is available depends on the signup date. Before this week’s drop, three packs were released as part of a soft launch, all of which sold out.
“Last year’s soft launch of NFL ALL DAY brought in a surge of early adopters who began collecting video highlight NFTs of NFL plays, and we plan to grow the number of users significantly with the official launch of the platform,” said SVP of Consumer Products at NFL, Joe Ruggiero.
This development reinforces Dapper’s position in the sports NFT space. Its NBA Top Shot platform has grossed over $1 billion, most of which was from NFT resales. The company’s latest funding round raised $250m, with its valuation rumored to be around $7.5 billion. It recently formed an individual partnership with Super Bowl champions, the LA Rams, kickstarting its latest venture, Team NFTs, which will drive support for NFL ALL DAY.
Dapper will want to replicate its Top Shot success with ALL DAY. The first series of Top Shot NFTs had a wider price range than ALL DAY, with pack prices ranging from $9 to $230. The initial NFL drop is priced at $59 with 25,000 packs in total.
Like Top Shot’s secondary market, Dapper will take a 5% cut out of ALL DAY NFT resales, creating another revenue stream for ALL DAY beyond the initial drops.
A key question is whether NFL fans will be as keen on the NFTs as NBA followers. A September 2021 Morning Consult survey showed that 26% of NFL fans used cryptocurrency transactions compared to 32% of NBA fans. It also found that 44% of NFL fans had some interest in crypto (53% for NBA).
However, NBA Top Shot launched when the latest crypto boom began, but the NFT sector was nascent. While the awareness of NFTs is now far higher, given there’s been a crypto crash, everyone will be watching to see if NFL ALL DAY can surpass the performance of Top Shot.