What are NFTs?
NFTs, or Non-Fungible Tokens, are digital assets that are stored and verified on the blockchain (a public ledger/database). For the first time, collectors are able to truly own their digital assets outside of the company that issued them. They are free to re-sell them – and because they are publicly accessible, third-party companies are able to verify the authenticity and ownership of an NFT without having to rely on the company that issued them. This means that a company issuing an NFT can partner with other companies to provide real-world utility and access to NFT holders – thereby amplifying the value of the NFT far beyond the collectibility itself.
Types of NFTs
There are thousands of applications of NFTs. The existing implementations tend to revolve around digital art, music and the Metaverse – but this is only the tip of the iceberg. Within the next 5-10 years, it is expected that NFTs will be used for identification, events, ticketing, product ownership, retail promotions, membership, college degrees, home titles and more. CounterTEN, has developed a platform that allows brands to easily create, sell and verify NFTs for the purpose of revenue generation and brand engagement.
Bearcats Select Athlete Rookie Card NFTs
Bearcats Select is proud to partner with CounterTEN to offer unique digital NFT collectibles for all Bearcats Select athletes. Every athlete will have the opportunity to upload their headshot and customize their own NFT. These NFTs can be purchased and downloaded to any Apple/Google wallet and offer valuable discounts at participating retailers. Below is a sample of a customized NFT. This NFT lives in the Apple/Google wallet – and is downloaded in the exact same way that a person would download a boarding pass or Starbucks prepaid card. The NFT comes with a unique QR that, when scanned, shows authenticity and ownership of the NFT.
So Why NFTs?
We are looking to empower tomorrow’s collegiate and professional athletes, community leaders, business leaders and more. Any Bearcats Select athlete who claims their NFT will be the unique owner of this digital asset – and they are free to hold onto it or sell it on the secondary market at any future date – at a price that they set. There are a maximum of 5 NFTs created for each athlete per season. If the athlete becomes a division 1 collegiate athlete, a pro athlete, a CEO of a company, a recognized entertainer – or one of a thousand other notable professions, this NFT could be worth a substantial amount of money in the future. Imagine what people would pay for Elon Musk’s high school computer club NFT if it were available? Pro athletes are selling NFTs for hundreds of thousands of dollars. We want today’s youth to feel empowered and believe in their future legacy. And the first step is to create a snapshot of who they are in 2022.
OK - I'm Convinced. How Do I Get my NFT?
Claiming your NFT is easy. It should take no more than 5 minutes and there is no cost involved. All athletes will receive an email from CounterTEN with a unique link to customize their NFT. The email will look like the image shown below.
When clicking through to the site, you will be prompted to login or create an account, which should only take 60 seconds. Simply enter your first name, last name, date of birth and email – and once you verify the email address, you’ll be ready to go. Upload your headshot (you can choose any photo from your phone/computer). You will also be asked to enter your stats. This is optional and can include anything from age, weight, height or other sport metric(s).
The NFT preview page allows you to confirm that you like the photo. Feel free to click the Back button under the CounterTEN logo (not the browser back button) to try a different photo. Once you’re happy with the preview, simply accept and claim the NFT.
That’s all there is to it. You will be taken through a couple confirmation screens, and once done, you will receive an email with a link to download the NFT to your Apple/Google wallet. If this will be downloaded on a different device, feel free to forward this email to that device and when you click on the Apple/Google link, the NFT will be installed right away. That’s it – you now have a real NFT on your phone.
Questions?
If you have any questions about the process, please drop us an email at [email protected] and we will help you get up and running with your NFT.