Ryan Malone on his tech-savvy sports business venture, state of the Penguins, Sidney Crosby memories

When former Pittsburgh Penguins forward Ryan Malone gutted up to return to play after taking a puck to the face in Game 5 of the 2008 Stanley Cup Final, it was a moment Penguins fans of that era will never forget.

Nor will they ever forget his two power-play goals to help eliminate the Philadelphia Flyers in Game 5 of the 2008 Eastern Conference Final.

Now in retirement, Malone can draw a smile from those memories forever, too. But in his new business venture, the Upper St. Clair product hopes those moments from his past can lead to something else: financial profit.

Malone is partnering with two outlets — Ultimate Franchise Fantasy Sports and Athlete Owned Sports — to take advantage of the rise in the NFT cryptographic marketplace and channel funds back to athletes themselves.

A NFT (non-fungible token) is a unique unit of data stored on a digital blockchain. A blockchain is a type of database that stores data in groups known as “blocks” which, when filled, are “chained” onto the previously filled block. NFTs can represent items such as pictures, videos and audio. Anyone can obtain copies of these digital items. But NFTs are tagged to the blockchain, hence providing the owner a potential revenue stream separate from copyright.

Last month, Reuters reported NFT sales to be at $2.5 billion this year, up from just $13.7 million in the first half of 2020.

UFF Sports president Tony Charanduk explains how the concept works.

“It’s not the leagues or the players associations that we want to deal with. We wanted to deal with the individual athletes,” Charanduk said. “Physically, the real athlete is attached to that NFT. They are going to profit from that NFT participating in this digital world. Whether it is fantasy sports, e-sports, cryptocurrency in general.

“As they participate in our ecosystem, we are going to drive revenue to these NFTs which the athlete sells to somebody. So somebody buys that NFT — that digital version of them — so they are in business with that athlete.”

In other words, it’s a way for fans to financially invest in athletes in a similar way to how they’ve emotionally invested in them during competition. Malone sees the new marketplace as a direct way for athletes to profit from themselves.

“The intention of really helping the athlete is there, and we are just at the starting line … We all have that same goal in mind of giving that power back to the athletes, and then to the fans,” Malone said.

Nik Lewis is the Chief Executive Officer at Athlete Owned Sports and a former wide receiver who is about to be inducted into the CFL Hall of Fame. He says the partnership with UFF Sports and the NFT market expansion will provide numerous outlets for athletes to provide content.

“Some are going to have cooking shows. Some will have hunting shows. Some will do NFL gameday shows. It just won’t be ‘an ESPN’ that owns it,” Lewis said. “Athletes will always own their content. We don’t buy their content. We have a monetization system that allows you to distribute your content and make more money than anywhere else.”

Malone says the format lends itself perfectly to players on the fantasy sports platform, too. Because players who get involved on the NFT level now have the chance to profit by being drafted onto fantasy teams when fans invest in a club they like.

“It’s the closest I’m ever going to get to becoming a real general manager, but I can do it from my couch,” Malone said. “We’re all going to end up sharing that pie…. We’re going to use (the athletes’) stats in our league. But now, they can actually be attached and make money.”

And, essentially, fans can become minority owners of the team.

Any chance the Pirates can go on a blockchain?

During the conversation, Malone also touched on some other matters on the ice, specifically about his former teams in Pittsburgh and Tampa Bay.

• If the Lightning have a legitimate shot to three-peat: “I think Tampa definitely has a chance to do three in a row. Why not? The core pieces are there. They should still have that swagger going in.”

• If the Penguins’ window to compete for a Stanley Cup is still open with Sidney Crosby and Evgeni Malkin: “I don’t think you can count those guys out when you have Sid and Geno. I think the management there now can help find those pieces that can impact them in the playoffs. That’s ultimately what matters. Just get in the playoffs and let the big boys have at it.”

• On last month’s 16th anniversary of the Penguins winning the 2005 draft lottery to select Sidney Crosby: “I was on the golf course and people just started screaming that we got Sidney Crosby. It was a game-changer. It was great to hear that we were going to get the opportunity to snag him. First seeing him in camp, just seeing how explosive he was. Everybody talks about (Connor) McDavid now. That’s how he was back then.”

• Where the Penguins can find another Ryan Malone-type power forward: “Well, (expletive) I’m feeling pretty good! I can go stand in front of the net and throw the weight around no problem…But, no, that (Josh) Anderson from Montreal looks like a big boy who can skate and make plays. He’d be a great pickup. But I don’t think Bergy (former Penguin defenseman and current Canadiens general manager Marc Bergevin) would give him up.”

• Flashing back to being a Team USA 2010 Winter Olympian while watching this year’s summer games in Japan: “I get goosebumps every time I think about it. It was a dream I never thought was possible.”

Malone’s American squad lost to Canada 3-2 in overtime of the gold medal game, courtesy of a Crosby game-winning goal.

“To be able to have the opportunity to do that and come so close. But Sid gets the goal as Sid usually does,” Malone said. “So I didn’t feel that bad … He’s just meant to do that stuff, I guess.”