Owning your very own sports team. It’s the pinnacle of success for some entrepreneurs and can be an extremely lucrative investment. Yet, striking up the cash to purchase a team in any sport, even one from the lower leagues, is well out of reach for most businesspeople.
However, the Metaverse is again turning this on its head and providing investment opportunities — with a far more accessible entry point. So, what is a Metaverse sports team, who’s investing in them, and should you consider doing the same?
Sport in the Metaverse
There’s no shortage of opportunities for the sports industry in the Metaverse. Already, we’ve seen the Atlanta Braves build a digital twin of its baseball stadium, Italy’s Serie A live-stream a soccer game on The Nemesis platform, and the English Premier League has just filed two Metaverse-related trademarks with the United States Patent and Trademark Office (USPTO).
There’s even a notion that virtual sport could be a conduit to the Metaverse for users. Sports fans will undoubtedly follow as more teams invest in Metaverse projects, stream games in Metaverse spaces, and join leagues with ambitions for a virtual presence. So, things are off to a good start, but what does this mean for investors?
In a virtual world, sports in the Metaverse can be whatever you envision. For example, former Backstreet Boys star Nick Carter recently purchased a fantasy football team on the SimWin sports platform, the Tampa Bay Bull Sharks.
Users can draft players with NFTs, work on training and skill improvement programs, and buy their teams on the platform. With eSports, decentralized tech, and gaming, SimWin enables investors to earn revenue through profit sharing, leagues, performance bonuses, and more.
And Nick Carter isn’t the only well-known figure to invest in the platform. Magic Johnson revealed recently that he, too, was an investor and proud owner of a football and basketball franchise.
However, SimWin Sports isn’t the only route into Metaverse sports investments. As well as owning your team, you can look into supporting the emerging platforms that support the transition of major league sports teams from the physical to the virtual.
And then there’s sponsorship. Compared to sponsoring physical teams, Metaverse sponsorship is at present more affordable. Instead of representing a large proportion of your investment budget, you can attribute a far smaller amount to sponsorship and in-game advertising opportunities.
Ultimately, there are many ways that an investment in Metaverse sports could see a healthy return. Whether that’s through NFT trading, team ownership, revenue sharing schemes, media, or more, businesses have a lot to gain from getting in on the action early.
As with any investment, there is undoubtedly a risk. And, with most transactions taking place using cryptocurrencies, you must be aware of the huge potential for losses. However, as an emerging market, Metaverse sports is probably worth a punt.
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