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‘It’s Time’: NBA Top Shot Maker Dapper Labs to Launch NFT Platform for UFC

Following the UFC 270 pay-per-view event, NFTs from the Ultimate Fighting Championship will debut on Flow this weekend.

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#nft #nfthours #dapperlabs #ufc #collection

Dapper Labs announced today that it would launch an NFT platform for the popular mixed martial arts organization Ultimate Fighting Championship later this week, following its success with NBA Top Shot and subsequent arrangements with the NFL and LaLiga.

UFC Strike will premiere on Sunday, January 23, immediately following the UFC 270 live pay-per-view event on Saturday. UFC Strike’s digital collectibles, like Top Shot’s, will be based on video footage from previous events and will be minted on Dapper’s Flow blockchain. However, unlike Top Shot, the UFC collectible moments will include the original soundtrack to match the video clip.

Furthermore, rather than having different tier levels, all packs—which contain a random selection of moments—will be sold at the same price (as with NBA Top Shot). NFT moments from fighters like Francis Ngannou, Amanda Nunes, Kamaru Usman, Rose Namajunas, Derrick Lewis, and Justin Gaethje will be featured in the first pack.

Dapper’s contract with the UFC was signed before NBA Top Shot was out, which is interesting. According to statistics from DappRadar, the partnership was announced in February 2020, when the NFT sector was still small and niche—well before it grew to $23 billion in trading volume in 2021.

Dapper Labs’ head of partnerships, Caty Tedman, said that the company wanted to debut NBA Top Shot first and learn from the experience—which includes serious scaling issues early last year—before launching the UFC memorabilia.

She stated, “We’ve come to the stage where we feel ready to [launch].” “We’re ecstatic to provide UFC fans with a once-in-a-lifetime experience, as well as the utility that comes with this type of product. We’re finally ready to launch this as the industry, and we grow together.”

Tedman stated that the UFC Strike platform would be heavily promoted during this weekend’s pay-per-view event, including appearances by UFC President Dana White and fighters.

Because the UFC’s timetable is mainly based on pay-per-view fights every few weeks, UFC Strike will plan its releases to coincide with those significant events. As a result, the portal will first focus on fights from the previous year but ultimately include highlights from older UFC fights. The first fight in the promotion took place in 1993.

Despite the roughly two-year gap between the original announcement and this week’s launch, Tedman said the UFC—which already has a crypto fan token through the Socios.com platform—was keen to make a big statement in the NFT industry.

“Every company has its personality, and the UFC’s approach is to test with us and try new things with us,” she explained. “It’s fantastic to have a partner that doesn’t say, ‘Well, let’s try it little and see how it goes,’ when you’re talking about how to launch a product. It’s like, ‘Let’s make it as huge as we can.’ ‘Let’s do it in a UFC-style fight.'”

Unlike Top Shot and the impending NFL All Day platform, UFC Strike will be released without a closed beta period to the general public. According to Tedman, Dapper is investigating live activations at future UFC events, as it has done with the NBA, and added value for UFC NFTs, such as potential community or gaming features.

Top Shot in 2022

The UFC announcement comes on the heels of NBA Top Shot’s first major commercial campaign, including Kevin Durant, the Brooklyn Nets player and two-time NBA champion debuting yesterday.

In October, Durant and his Boardroom media group signed a deal with Dapper Labs to give him “a starring position across NBA Top Shot,” according to the company. According to Tedman, Durant, an early investor in Coinbase who has invested in other crypto firms, is familiar with the Top Shot concept.

“He’s a world-class athlete. He’s a top-tier human. He’s a tech entrepreneur,” she explained. “It’s been a long time since he’s been with us. He’s been interested in the crypto world for quite some time. Therefore, he ticks all the boxes. But isn’t he also swaggering? There’s nothing about him that wouldn’t make him a fantastic candidate for this type of campaign.”

ACCORDING TO TEDMAN, the NBA Top Shot team is “very focused on raising participation in the product and increasing accessibility” for 2022. Following the early 2021 boom in demand and Dapper’s time spent improving platform reliability and customer service, the business feels Top Shot still has substantial growth potential ahead of it.

“This sector is still in its infancy,” she explained. “There’s no such thing as ‘tried and true,'” says the author. “We’re going to attempt a lot of things, but we’re going to do a lot of things to make sure that current collectors feel valued—so they don’t feel like we’re creating an experience where they don’t feel valued.”

And NFL All Day, which Dapper promised would debut by the end of the current NFL season, is still on track to do so—for reference, Super Bowl LVI is on February 13. The NFT platform is now in closed beta testing, and given the recent nature of Dapper’s NFL partnership, Tedman said they’re concentrating on polishing it before going public.

“We’re much newer to the NFL,” she added, “in the same way that every organization has a different personality and every partnership has a different pace. So as a result, we’re taking our time with it.”

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Is Fender quietly getting ready to enter the NFT market?

In order to preserve or launch its brand in web3, Fender has filed various NFT-related patents and trademark applications in the United States.

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Fender, a well-known guitar manufacturer, has filed three patents related to NFT with the US Patent and Trademark Office.

When it comes to developing, selling, or buying NFTs with the Fender brand name, the patents would suggest a purpose to make or protect its brand.

Fender filed a series of trademark applications linked to its headstock design in possible NFTs, according to GuitarWorld, including NFT collectibles, virtual products, pictures, artwork, video, and audio recordings featuring music and musical instruments.

Mike Kondoudis, a trademark attorney, noticed the application to the US Patent and Trademark Office, which was filed on April 28.

Source: Twitter

Fender isn’t the first guitar company to think about using NFTs. Billboard reported in January that Gibson, the legendary guitar brand and Fender rival, was preparing to join the NFT industry with six trademark applications connected to NFTs and digital goods.

Big brands, from Adidas to Gucci, have been fast to experiment with NFTs and the Metaverse as two new distribution channels. They’re still figuring out where they belong in the virtual worlds.

NFTs are being used by musicians to reinvent fan involvement

NFTs and the Metaverse are being used by many established bands and brands to redefine how they communicate with fans. Additionally, musicians that rely significantly on in-person concerts as a fundamental income source will find the revenue streams and royalties available by the sale of NFTs appealing.

Music producers and platforms such as Audius, DAOrecords, and TokenTraxx are collaborating with musicians to demonstrate the possibilities of Web3 technology and allow fans to be creative using NFTs.

As famous guitarists get involved in the NFT realm, guitar brands are naturally interested. Keith Richards sold one of his beloved guitars with an exclusive 1-of-1 Tezos blockchain NFT produced for $57,600 in January of this year. The guitar, as well as a digital replica in the shape of an NFT and a video of Richards signing the guitar, were all up for auction.

Since the beginning of the year, the number of NFT trademark applications has increased dramatically, with 3,306 applications filed between January and April.

Source: Twiter

Despite the applications, Fender has yet to reveal its plans for NFT.

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According to Music Ally, Spotify has begun testing NFTs on its platform

If a trial deployment goes well, artists may soon be allowed to market their non-fungible tokens (NFTs) on Spotify, according to Music Ally.

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Spotify, the most recent tech business to join the NFT bandwagon, entered the web3 world earlier this month with the introduction of “Spotify Island” on Roblox on May 3. Spotify will now test NFTs on the platform to specifically selected US consumers, starting with a single trial selection of artists, including Steve Aoki and The Wombats.

Users will have to purchase NFTs through an external marketplace, thus they won’t be able to sell them directly. As part of the trial, Spotify has stated that it will not take a portion of the sales.

Simultaneously, customers have stated that Spotify is sending out surveys and even paying some people to talk to team members about their feelings regarding NFTs and web3. Questions concerning sentiment, cryptocurrency purchases, and why people acquired NFTs have been circulated on Twitter. Some poster responded with mockery to the queries.

Since March, when Spotify placed two job offers for working on early-stage web3 projects, rumors have circulated that the firm was interested in entering the web3. The announcement comes only days after Meta revealed that it would begin testing digital collectibles and NFTs on Instagram as well.

By the time of publication, Spotify had not responded to a request for comment from The Block.

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Square Enix intends to issue tokens and make a significant investment in Web3 gaming

By investing in blockchain gaming infrastructure, the big game producer is altering its business strategy to include a stronger NFT environment.

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Square Enix announced in its first-quarter results report that as part of its medium-term business strategy in 2022, it will include nonfungible tokens (NFTs) into more game goods.

According to Square Enix’s most recent earnings report, the company manages $3 billion in assets. The company controls the Final Fantasy franchise, which it sold for $300 million on May 3rd.

According to the report, the company began testing NFTs in February this year on the Shi-San-Sei Million Arthur game. If the pilot program is a success, the game’s NFTs will be renewed for a second season, and the company will expand its NFT and blockchain activities.

SE wants to provide regulatory clarity and norms for blockchain gaming, address scalability in NFT economies, and consider forming a corporate capital venture unit, among the top priorities of its blockchain domain projects.

The company also announced that it intends to create an overseas organization that will be responsible for “issue, administering, and investing our own tokens,” implying that the company will begin to build a large gaming-token economy.

SE has been exploring its options in the blockchain gaming market with the help of Web3 gaming and metaverse venture capital firm Animoca Brands. As SE digs deeper into the ecosystem, collaboration between the two companies is expected to deepen.

Square Enix’s gaming clout, according to Animoca’s executive chairman Yat Siu, will only help the company establish a blockchain gaming presence. On Monday, he said to Cointelegraph,

“Square Enix has long talked about the possibilities of blockchain games, so it understands it better than most of the traditional gaming titans.”

The third objective of the report’s medium-term business strategy is to invest in and monetize blockchain, artificial intelligence (AI), and cloud computing. This aligns with CEO Yosuke Matsuda’s stated desire in January to increase his company’s involvement in such technologies.

Despite a broad cryptocurrency market dip in 2022, the appeal of Web3 and NFT gaming has remained strong. On Saturday, according to market tracker DappRader, there were roughly one million daily active gamers, nearly the same as on January 1.

Gamers, on the other hand, aren’t spending as much as they used to, with total sales volume for NFT game items falling 88 percent from $70 on January 1 to $8.7 million on Saturday.

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