The rise of non-fungible tokens (NFTs) has opened up new possibilities for collectors of sports memorabilia. One of the most popular applications of NFTs has been in the realm of digital baseball cards. Just like physical baseball cards, digital cards represent individual players and can be collected and traded. However, NFTs allow for digital scarcity and ownership verification through blockchain technology.
Topps was one of the first major companies to issue digital baseball cards as NFTs. In 2021, Topps released its first NFT baseball card set on the Wax blockchain called Topps MLB Moment. Each pack cost $50 and contained five randomly generated cards featuring special video highlights or “moments” from MLB games. Within the first week, Topps made over $2 million in sales.
Topps followed up with additional NFT baseball card releases on Wax including Topps NFL All Day, Topps NFT UFC Strike, and Topps WWE Slam. The company’s biggest release was Topps NFT Baseball which contained 10,000 unique player cards. Each pack cost around $50 and sold out within hours, generating over $20 million in revenue for Topps.
Part of what made Topps NFT Baseball so popular was the inclusion of special “1/1” cards featuring current MLB superstars like Shohei Ohtani, Fernando Tatis Jr., and Juan Soto. These ultra-rare 1-of-1 cards were individually numbered and signed by the players. At auction, some 1/1 cards ended up selling for well over $100,000 each.
Beyond Topps, several other companies have entered the NFT baseball card space. Dapper Labs, the company behind NBA Top Shot, partnered with MLB, the MLBPA, and Fanatics to release MLB Collectibles. This set featured 35,000 player cards across four tiers of rarity. Like Topps, the initial packs sold out very quickly.
Another notable NFT baseball card project was Cracked released by Candy Digital. These retro-style cards paid homage to the classic designs of the 1980s and 1990s. What made Cracked unique was that every card had a chance to “crack” and reveal upgraded rarities or special animated versions. This introduced a fun element of surprise and gamification.
For collectors, one of the main advantages of NFT baseball cards over physical cards is the ability to buy, sell, and trade entirely online from anywhere in the world. Popular NFT marketplaces like OpenSea have become the new “card shops” where people can browse listings, place bids, and make offers on individual digital baseball cards. Prices are set solely by supply and demand.
Additionally, NFT ownership is cryptographically verifiable on the blockchain. This helps prevent forgery and counterfeiting which has long been an issue in the physical card industry. NFTs also have special metadata attached that details attributes like serial numbers, artist signatures, and more. This extra layer of authentication has given collectors new confidence.
However, NFT baseball cards do come with some disadvantages compared to physical cards. There is an inherent lack of tangible connection that collectors of physical items enjoy through actually holding and displaying cards. Also, since NFTs rely on continued server support and blockchains, there is a risk of projects failing or markets crashing in the future.
From a financial perspective, the volatility of cryptocurrencies adds risk to NFT investments. While some ultra-rare NFT cards have sold for hundreds of thousands, the vast majority hold value closer to their initial mint prices. It remains to be seen how long term demand and aftermarkets will develop.
Regardless of the challenges, NFT baseball cards seem poised to continue growing in popularity among collectors. With top companies like Topps, Fanatics, and Dapper Labs actively supporting the space, the integration of blockchain and digital scarcity could be a big part of the future of sports card collecting. For enthusiasts who enjoy the speculation and community aspects, NFTs open up an exciting new chapter in what has long been a beloved hobby.
Digital baseball cards issued as NFTs are capitalizing on collector demand while introducing modern features like cryptographic ownership and global accessibility. While physical cards retain tangible benefits, NFTs offer compelling advantages that are driving serious interest and big money flows. Both formats figure to coexist going forward as collector preferences and technologies evolve.
