The NFT and metaverse sectors are gaining followers on a global scale and many brands want to join these two environments. The football world is no exception, nor is the English Premier League, always on the lookout for opportunities and ready to open up to new things. The investment is significant since it amounts to 520 million euros.
NFTs or non-fungible tokens represent no less than $40 billion in the cryptocurrency sector. As for the metaverse, it represents a network of 3D virtual worlds where users can interact all together. This is a new space for doing business and making social connections through their ” avatar » virtual. It represents the future of Web3 and the digital world. After video game companies like Nintendo or Sony, the football sector is also interested in these new technologies. There Premier League the famous English football championship, as well as clubs such as Paris Saint-Germain (PSG), benefit from investing in the NFT sector. By the way, the Manchester City club has just joined the metaverse. With the support of Sony’s virtual reality professionals, he is building the first football stadium in the metaverse.
For example, clubs and championships can sell digital trading cards, virtual shoes, sportswear and many other accessories. It is also an opportunity for the English league to manage the financial services related to its clubs, its players and English football officials. NFTs allow leagues to open up a little more to their fans while the metaverse helps them move to the digital economy, thanks to the opening of shops that sell virtual products to equip their avatars.
All sports fields are now affected by the metaverse phenomenon. This is the case with basketball. The basketball player Kevin Durant the National Basketball Association (NBA) has also just integrated this new universe. The huge success of NBA Top shoot, after entering the NFTs, greatly influenced the decision of this talented player. Since then, sports brands have been following suit.
This is the case of Nike who created Nikeland in the metaverse. There are also: Under Armour, Adidas and Puma. The metaverse market reached $107.1 billion in 2020, and experts believe that this figure will reach $758.6 billion in 2026.
Conclusion
NFTs have a bright future in the world of football. Since the strict limitations imposed by the Covid pandemic, leagues must anticipate and look to new ways to generate revenue. As for the metaverse, it connects the league, the sports teams as well as the fans. But until when? Could this solution represent the future of online sports or even traditional sports?
Receive a digest of the news in the world of cryptocurrencies by subscribing to our new daily and weekly newsletter service so you don’t miss anything essential Cointribune!
Passionate about blockchain technology and cryptocurrencies, we are helping to popularize and democratize this new world.
“Chancellor on brink of second bailout for banks”
