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- Pokemon Go creator launches NBA All-World game as ‘real-world metaverse’
Pokemon Go creator launches NBA All-World game as ‘real-world metaverse’
NBA games in 180-degree VR, rugby & boxing in the metaverse, plus more top stories
🏀 Metaproof Sports
This is Sophia from 🏀 Metaproof Sports, the weekly newsletter where we keep you informed on how the metaverse and web3 are changing the sports industry.
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This edition is sponsored by Matchday. Collect, trade and play in. Enjoy games built for football’s 5 billion fans.
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📲 By the numbers
The global fantasy sports market size was valued at $24B in 2021 and is estimated to reach an expected value of $78.5B by 2030, growing at a CAGR of 14% during the forecast period of 2022 to 2030. Fantasy sports are online game platforms in which participants pick and manage virtual teams composed of actual professional athletes. (Source)
Several reports last year predicted the metaverse could be worth trillions of dollars by 2030. However, reports coming out this year are putting the figure at about $700B due to the impact of the crypto winter. (Source)
📫 News & trends
Niantic, the company behind the popular game Pokemon Go, is introducing the new mobile game NBA All-World in aims of bringing players out of their homes and into the real world to play with others. The hybrid-style game, dubbed as a “real-world metaverse,” is designed to be accessible to all players, requiring only a mobile phone and no expensive VR headsets or goggles.
Niantic is hoping to make money from microtransactions, allowing players to purchase virtual items to customize their avatars. The company is also planning to monetize the game through sponsored locations and in-game advertising.
However, it's worth noting that Niantic has not been able to produce another hit game since Pokemon Go, with notable flops like Harry Potter: Wizards Unite, which was shut down due to lack of interest. The company is facing a high level of competition in the mobile gaming market, and it remains to be seen if NBA All-World will be able to generate the same level of success as Pokemon Go.
Sports-focused NFT firm Candy Digital previously announced a Series A extension funding round yet didn’t specify the monetary amount, with the news following media reports that sports merchandiser Fanatics was selling its 60% stake in the company.
This news at a glance:
A new filing with the U.S. Securities and Exchange Commission (SEC) has provided some financial figures, showing that Candy Digital had raised $38,449,997 from 14 investors in an equity offering - more than half of the $68,188,480 overall that the company is seeking to raise in the sale.
The offering opened on January 3, the day before the CNBC report on Fanatics selling its stake to a group led by well-known financier Michael Novogratz's Galaxy Digital.
Established in 2021 by Galaxy Digital, Gary Vaynerchuk and Fanatics, Candy Digital was born in the era of sports NFT boom and debuted with a Major League Baseball (MLB) partnership.
It raised a $100 million Series A round in October of that year at a $1.5B valuation. NFTs, though, became one of the hardest-hit crypto verticals when the bear market began in earnest early last year.
The NBA has been offering games in virtual reality for some time now, and recently it has expanded its deal with Facebook’s parent company Meta to give basketball fans over 50 live games on the Meta Quest. Viewers will be able to watch 52 live NBA games in VR during the current season as well as a sprinkling of WNBA, G League, and 2K League games on both the XTADIUM app and within Meta Horizon Worlds, the company's metaverse platform. Five of the NBA games will be available in 180-degree VR. One of the most popular VR headsets on the market, the Meta Quest 2 has had an estimated 14.8 million units sold as of June. Supply chain issues prompted Meta to increase the price of the Quest last year by $100. The NBA and Meta also previously inked a deal in 2020 for Quest to be the "presenting partner" for viewing NBA content in VR.
In a new strategic deal, Sports Illustrated is about to become metaverse-oriented fantasy sports business SimWin’s official presenting partner on various branding opportunities and integrations across its platform for the sports and culture realm. This partnership will enable SimWin to enhance its presentation and broadcasts while optimizing engagement with the fans SI has cultivated for generations, according to a press release. SimWin’s metaverse proposition sees virtual athletes playing on teams owned by renowned sports and entertainment figures, with personalities active on the platform including former NBA greats Magic Johnson and Tracy McGrady along with former NFL stars Jerry Rice and Marshall Faulk.
In the lead-up to the 2023 Rugby World Cup in France, Facebook is turning to the metaverse to drum up excitement for the tournament. The social media giant is leveraging its suite of apps to create a campaign that showcases the potential of the metaverse. Creative agencies BETC Paris, Havas Play, and Unit9 have all been brought on to develop the campaign, which will include immersive experiences such as fan avatar creators, custom AR filters, and a VR experience. While the metaverse presents a lot of potential, there is still a lot of uncertainty surrounding its capabilities. It is unclear how successful the campaign will be in generating early enthusiasm for the tournament. However, Facebook's use of the metaverse is a clear indication of the growing interest in this technology and its potential to revolutionize the way we experience events like the Rugby World Cup.
The metaverse, a translation of the physical world into the digital space, is rapidly becoming a new frontier for entrepreneurs. As the metaverse continues to grow and evolve, a new trend has emerged: the Black metaverse. Black entrepreneurs are using this virtual space to showcase their talents and pass on knowledge, creating a legacy that can be passed down to future generations. However, this new frontier is not without its challenges, as the metaverse - like the physical world - is not immune to racial and gender biases. Algorithms within the metaverse can perpetuate these biases, leading to a lack of representation and opportunities for marginalized groups. Additionally, companies like Facebook, which has a significant presence in the metaverse, has been accused of disproportionately harming Black users. Despite the challenges, the emergence of the Black metaverse represents an important step forward in creating a more inclusive and equitable future.
In a move that could revolutionize the way sports enthusiasts and athletes interact, St. Petersburg-based Metasport Arena has announced a strategic partnership with web3 company Burrst. The deal will see Metasport Arena, currently in the process of creating an ecosystem for sports enthusiasts and athletes, benefit from Burrst's experience in providing young athletes with global exposure and fan engagement through the web3 environment. Metasport Arena is currently exploring and testing its platform, and is seeking funding and partnerships from venture capitalists and angel investors. However, it's worth noting that the company is still in the testing phase and may encounter bugs. Additionally, as the company is bootstrapped, it may face challenges in securing the necessary funding and partnerships to bring its ecosystem to fruition. Despite these potential challenges, the partnership with Burrst emerges as a significant step forward for Metasport Arena and could change the way sports fans and athletes interact in the future.
At the congress of the International Boxing Association (IBA) held in December 2022 in Abu Dhabi, association president Umar Kremlev declared they are developing an international boxing house, an advanced IT platform, and a boxing metaverse that will showcase VR boxing, VR training, NFTs, and fan tokens. The initiative also involves its own cryptocurrency, which will serve as the primary means of payment for all aspects of the platform, including subscriptions to online broadcasts of fights and championships in both real life and IBA metaverse VR fight arenas. With an audience of 540 million fans, the IBA is eyeing a new multibillion-dollar market with the project. This is also the first time an official sports association has taken on the development of its own metaverse, the press release claimed.
AllStar Health and TGI Advent Galaxy have big plans in store for the world of sports and technology, announcing the launch of the Sports Metaverse Mega Mall, an innovative shopping destination that will bring together the latest in sports and technology. The first mall tenant: Penerra, an electric vehicle company that will offer a range of electric vehicles such as e-bikes, e-scooters, service utility vehicles, sports coup, and sedans. Penerra is the first EV brand in the US to have secured the world’s finest wheel hub motors, thus potentially providing shoppers with the latest and greatest in EV technology. Based out of Florida, the company also allows its customers to design their own vehicles.
In today's fast-paced business world, companies are always looking for ways to stay ahead of the curve. BlockchainSpace, a data aggregator and infrastructure provider for guilds and web3 projects, is no exception. The company has recently announced its majority acquisition of intellectual property (IP) house, Metasports. BlockchainSpace is confident that 2023 will be a banner year following the acquisition of Metasports, which will be instrumental in fostering further business growth for them. Metasports focuses on web3 and web2 gaming IPs across esports, creator networks, and news and media verticals. This will provide BlockchainSpace with a wealth of new opportunities and resources to expand its offerings and reach new markets.
With a bid to build a sustainable future and be a part of the adaptation of electric vehicles, C+Charge is partnering with XMANNA to create virtual charging stations in the metaverse. These virtual charging stations will allow users to earn carbon credits and other NFT rewards. Users will be able to gain access to the metaverse through digital memberships, owning land, or subscription. XLANTIS is a realm where there will be a sports team partner supporting the fan ecosystem and hosting a myriad of events and content to reward and engage people. XMANNA has partnered with many professional and collegiate sports teams in Europe and North America, most notably with the David Beckham-owned Inter-Miami CF as its gamification partner. This new partnership aims to bridge the gap between the crypto world and the regular industry, making it easier for EV owners to access charging stations and earn rewards for their sustainable actions. While there may be potential challenges in bridging the crypto world with regular industry, alongside difficulty in securing partnerships with well-known brands, this partnership is a significant step forward in the adoption of EVs and the creation of a more sustainable future.
Tech firm NFT Technologies, partnering with top-tier brands to accelerate their entry into web3, has initiated a strategic focus on golf and is collaborating with some of the world’s most iconic golf championships. With golf joining the ranks of tennis and table tennis in utilizing NFT Tech's technology, the collaboration will comprise web3 strategy, including digital collectibles, metaverse experiences, and digital experiences that provide new and exciting ways for golf fans worldwide to engage with the sport that combines real-time data and sports analytics with digital memberships and blockchain-based rewards. NFT Tech claims to have pioneered the use of live sports data combined with NFTs to enhance the fan experience of live sports events. It recently disclosed that its novel approach to building web3 experiences is now going beyond line-calling technology, used across athletics, football, cricket, rugby, and volleyball.
Fans of the virtual reality game Walkabout Mini Golf will be excited to know that a new DLC pack is coming soon. The Atlantis DLC will be available for purchase on January 26, 2023, and will feature a sunken city complete with a large whale swimming through corals and sunken domes. The new course will cost $3.99, which is $1 more than the usual price of $2.99 for previous DLC packs. It's worth noting that this price increase only applies to the Atlantis DLC and not to previous DLC packs. The Pico 4 version of the game, too, does not have any of the DLC courses yet, so players on that platform will have to wait a bit longer to experience the new content.
Celebrity Boxing is set to make history by hosting the first ever live combat sport in the metaverse, featuring boxing legend Roy Jones Jr. and YouTube sensation NDO Champ. The organization will hold a press conference on January 24 to officially announce the event, which will take place at The Galaxy Arena on April 22. Press conference attendees will include Jones Jr., NDO Champ, and Celebrity Boxing founder Damon Feldman. While this historic event marks a major milestone for the metaverse and boxing, some concerns include the safety of hosting a live combat sport in a virtual environment, along with questions around the fairness of the fight given the different levels of experience between the two fighters. Celebrity Boxing and its partners, however, have assured that they have taken all necessary precautions and measures to ensure the event’s safety and fairness.
Horizon Sports & Experiences (HS&E), a US media agency with metaverse and web3 strategy and activation, has announced the Inaugural Pickleball Slam featuring tennis legends Andre Agassi, Michael Chang, John McEnroe, and Andy Roddick competing for a $1M purse. Created and produced by HS&E with InsideOut Sports & Entertainment (ISE), the 2023 event will be held at Hard Rock Live at Seminole Hard Rock Hotel & Casino in Hollywood, Florida on Sunday, April 2 and will be televised live on ESPN at 12:00 PM Eastern time. The Slam marks a five-event partnership among Hard Rock, HS&E, and ISE, where future Pickleball Slams will be held at various Hard Rock locations. The inaugural Slam will feature two legends' singles matches pitting Roddick versus Chang, followed by McEnroe versus Agassi in the second match. The final match of the day will be a doubles match with McEnroe and Chang competing against Roddick and Agassi.
💸 Finance buzz
Digital sports league SimWin tapped Sports Illustrated to be its official presenting partner on various branding opportunities and integrations across its platform for the sports and culture realm, enabling it to enhance its presentation and broadcasts while optimizing engagement with the fans SI has cultivated for generations. (Source)
Deal Box launched its venture arm Deal Box Ventures to invest $125M in startups using web3 technology. Deal Box Ventures, will focus on startups across five fund areas, including “FunTech” for action sports, innovative leisure and experiential consumer products. (Source)
Web3 and blockchain company NMKR appointed Lingling Liu as head of sports partnerships, who will develop partnerships between sports organizations and NMKR, as well as work on special projects including the company's partnership with football development organization the Football Foundation for Africa and the movie The Last Survivor. (Source)
🗣️ Quote of the week
"Sport[s] has been an innovation driver for many technologies in the past whether that be radio, television, mobile phones or social media. It is quite likely that sport[s] will be a leading innovation driver for the metaverse moving forward."
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All content on this newsletter is for informational purposes only and does not aim to serve as or replace expert investment advice.
If you are a startup building in the metaverse / web3 ecosystem and are raising capital, please reach out to Sfermion. Sfermion is an investment firm focused on accelerating the emergence of the metaverse.
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