NFT

Table Tennis Goes Crypto With Plans for NFT, Web3 Crossovers

www.coindesk.com

10 August 2022 21:22, UTC

Studying time: ~2 m


Ping pong is the most recent sport getting the crypto remedy.

World Desk Tennis (WTT), the occasions arm of the game’s governing physique, stated Wednesday it’s pursuing Web3 initiatives in partnership with non-fungible token startup NFT Tech – in an effort to broaden the sport.

The multiyear tie-up will see WTT subject “digital collectibles, metaverse experiences, play-to-earn and move-to-earn gaming,” in keeping with a launch shared with CoinDesk. WTT advised CoinDesk it runs greater than 50 occasions a 12 months.

Desk tennis is hardly alone within the metaverse sports activities motion: All 4 main sports activities leagues within the U.S. are experimenting with the tech as a approach to interact new audiences.

Whereas it’s unsure precisely what function crypto can have in the way forward for these sports activities, it’s turning into clear that almost all sporting organizations are conserving an in depth eye on Web3 as a development and advertising device, particularly for its youthful, tech-savvy demographics.

“In lots of circumstances, we will likely be interesting to first-time pockets holders,” NFT Tech CEO Adam De Cata stated in an e mail. “Utilizing NFT know-how, we are going to actively discover the ‘IRL’ utility and entry prospects equivalent to tickets to tournaments, coaching amenities and on-line broadcasts to VIP occasions.”

De Cata isn’t any stranger to tennis-themed NFT crossovers. He beforehand ran partnerships for the favored metaverse recreation Decentraland, which in January hosted the Australian Open’s NFT debut – a fan favourite. NFT Tech labored on that challenge as effectively

Learn extra: Australian Open Apes Into Tennis NFTs and Decentraland, Too

Desk tennis is claimed to be the third-fastest-growing sport in middle-age demographics and eighth-most common on this planet, with its Olympic viewership at all-time highs.

The game can be turning into more and more financialized, with tennis table-related sports activities betting an unlikely hit throughout U.S. betting markets.


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