The English Premier League joins the world of NFTs and the metaverse

The NFT and metaverse industries are gaining traction globally and many brands want to join these two environments. The world of football is no exception, nor the English Premier League, always on the lookout for opportunities and ready to open up to new things. The investment is substantial since it amounts to 520 million euros.

The English Premier League ventures into NFTs and the metaverse and files trademarks

NFTs or non-fungible tokens represent no less than 40 billion dollars in the cryptocurrency sector. As for the metaverse, it represents a network of 3D virtual worlds where users can all interact together. It is a new space for doing business and socializing 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. The Premier League English, the famous English football championship, just like clubs such as Paris Saint-Germain (PSG), benefit from investing in the NFT sector. Moreover, the Manchester City club has just joined the metaverse. With the help of virtual reality professionals from Sony, he built the first football stadium in the metaverse.

For example, clubs and leagues can sell digital trading cards, virtual shoes, sportswear and many other accessories. It is also an opportunity for the English league to manage financial services related to its clubs, players and English football officials. NFTs allow leagues to open up a little more to their fans while the metaverse helps them transition 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 phenomenon of the metaverse. This is the case with basketball. The basketball player Kevin Durant of the National Basket Association (NBA) has also just joined this new universe. The huge success of NBA Top shoot, after entering NFT, greatly influenced the decision of this talented player. Since then, sports brands have followed 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 figure will reach $758.6 billion in 2026.

Conclusion

NFTs have a bright future in football. Since the strict limitations imposed by the Covid pandemic, the leagues must anticipate and turn to new means of generating income. As for the metaverse, it connects the league, sports teams and supporters. But until when ? Could this solution represent the future of online sport or even traditional sport?

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Emile Stantina

Interested in investment and financial markets after a business school in Chambéry, the passion for cryptocurrencies was obvious. The blockchain is surely the universal tool of tomorrow.



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The English Premier League joins the world of NFTs and the metaverse


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