The NHL has officially announced its innovative digital platform, NHL Breakaway, showcasing the latest in blockchain technology.
Constructed in partnership with blockchain tech provider Sweet, the platform gives fans the chance to purchase packs of NFTs featuring clips of hockey action. Unveiled on Wednesday, Breakaway also offers the opportunity to exchange highlights with other collectors and participate in on-platform challenges for real-life rewards and additional digital goods. A marketplace for buying and selling individual NFTs is set to launch soon.
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NHL Breakaway emerges as collectible NFTs continue their search for stability in trading activity. NBA Top Shot reported $1.1 million in marketplace sales in November, down 66% from the same month last year and 95% from November 2021, according to Cryptoslam! data. Nonetheless, Mizzone stated that sports as a category holds a stronger position compared to other segments in the realm of Web3.
“The sports vertical is 100% the opportunity and the place for digital collectibles,” he said. “We aim to be the platform that truly revolutionizes the concept of digital collectibles for everyday hockey enthusiasts.”
Mizzone also revealed Sweet’s plans to expand its officially licensed, NFT-backed sports offerings. The partnership between the two companies, as well as the NHLPA and NHL Alumni Association, was first announced in June 2022.
Breakaway places a strong emphasis on accessibility, with $9 packs and free trading functionality introduced before the introduction of a real-money marketplace. While an NFT platform today may not promise the potential revenue it once did, the NHL remains dedicated to the concept.
“We’re committed for the long haul,” stated Chris Golier, NHL group vice president of business development and innovation. “We firmly believe that this is something our fans were asking for and wanting, and it’s up to us to deliver a product and a vision…. If we do it the right way, this will endure for a very long time.”
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