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Web of Rights In Digital Sports Memorabilia
Racecar drivers constantly fight for a better spot to move up in the standings.
Today, drivers and the racing world around them — including owners of racetracks and motorsports series along with sponsors, agents and attorneys — are confronted with another proverbial jungle to navigate. This one, however, lives online, not the racetrack. The advent of digital sports memorabilia in the form of non-fungible tokens (NFTs) has created a web of rights in racecar driving along with other independent, contractor-like sporting enterprises such as boxing or Ultimate Fighting Championship (UFC).
Unlike professional athletes in the National Basketball Association (NBA) and Major League Baseball (MLB), racecar drivers and athletes like them have room to negotiate alongside their agents to gain more benefits from the sale of NFTs. The challenge is how the parties involved find an agreement that can benefit everyone instead of going down a path to a standstill.
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