The Nashville Predators are betting that their future fanbase will be constantly connected to an ever-evolving digital marketplace that sports-industry analysts say could grow earnings exponentially.
In February, the team became the first in the National Hockey League to roll out a limited-edition microchipped jersey. The merchandise commemorated beloved goalie Pekke Rinne's retirement after 15 years.
It's both a tech-savvy marketing move and an investment in a new kind of fan experience.
"We’ll continue to be aggressive, providing our fans with more opportunities and options," Predators CEO Sean Henry said. "Offering the best fan experience in sports is very important to us and we also pride ourselves on being innovators – we are willing to try almost anything."
The "best fan experience" will also attract the biggest profits. So the team is aggressively experimenting with new technology and laying the groundwork for tech-enhanced services at Bridgestone Arena.
Season-ticket holders who are up for renewal received a custom Predators non-fungible token, or NFT, which is not digital currency but shares similar blockchain technology to create unique digital collectable codes. Some investors are betting that they will be part of the infrastructure of the metaverse and Web3, or the internet's next, more decentralized iteration.
Filip Forsberg:Why haven't Nashville Predators given Filip Forsberg a contract extension? George Kittle wonders, too
The digital art world uses NFTs to trade exclusive content. For sports teams, NFTs are expected to be the trading cards of the future, according to PwC industry research.
Many teams have already adopted commemorative NFTs to mark landmark games like the playoffs, including the Tennessee Titans.
"This is more than a passing fad,"according to PwC's Sports Outlook 2022. "The next step is 'before they were famous' cards, featuring college NFTs, minor league players and college prospects. Soon, your digital ticket may serve as a hype video."
Real-time stats and bets
Rinne's $350 commemorative retirement jersey retails for double what a regular jersey costs.
It's designed for a long-term marketing relationship with buyers who can scan the chip and register their jerseys to unlock daily exclusive offers and deals. This particular data, which team officials said is not sold to outside firms, then gives the franchise real-time updates on fan preferences.
The Titans are seeking a new or vastly remodeledNFL stadium to keep pace with facilities offered by other leagues.
A plan developed last year for Metro Nashville to split a $600 million stadium renovation with Titans officials was interrupted when engineers reported that it would cost more than $1 billion to modernize the 1997 open-air bowl.
State leaders have pledged substantial contributions to a new Nashville stadium that can host a Super Bowl. Negotiations continue on a financing strategy for a new stadium that would likely cost at least $2 billion.
Sandy Mazza can be reached via email at smazza@tennessean.com, by calling 615-726-5962, or on Twitter @SandyMazza.
