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LaLiga Joins Sorare

Every player in LaLiga, Spain’s best soccer league, will become an NFT.

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LaLiga, Spain’s top soccer league, has agreed to award non-fungible tokens (NFTs) to all its players as part of an exclusive agreement with Sorare, a French blockchain fantasy soccer game firm.

Collectors and fans will be able to fight head-to-head with teams of five in various fantasy soccer games thanks to the agreement, which includes players from both LaLiga Santander (first level) and LaLiga Smartbank (second division).

The NFT sales will generate royalties for LaLiga clubs, and Sorare has paid the league a minimum guarantee to ensure the deal’s exclusivity.

“This cooperation with Sorare, the most exciting sports NFT project today, enables us to reach new audiences globally and gives existing fans additional options to get involved with the players and teams they love,” said Javier Tebas, president of LaLiga.

Sorare is not the first soccer club to work with LaLiga.

Most of the top 100 soccer clubs in the world, including Juventus, AC Milan, Liverpool FC, Paris Saint-Germain FC, and Real Madrid, have already licensed the company to make NFTs, and every player in Major League Soccer is an NFT (but not the MLS clubs themselves).

NFTs and sports

Sorare is just one example of how the soccer business is leveraging the fledgling promise of NFTs, which are cryptographically unique tokens that may be used to represent digital assets such as artwork or memorabilia.

Major League Soccer in the United States has opted for NFT artworks rather than depicting players as NFTs. In contrast, Dynamo Kyiv of the Ukrainian Premier League has released NFT match tickets on Binance’s marketplace.

Other sports are also adopting nFTs. Since its creation, NFT-based video collectible platform NBA Top Shot has earned over $500 million in sales, while sports betting giant DraftKings, crypto exchange FTX, and star NFL quarterback Tom Brady have all revealed plans to start NFT marketplaces in the last few months.

Fungible Fan Tokens

However, NFTs aren’t the only blockchain technology in use in soccer.

Socios is another brand that is bridging the gap between soccer and digital collectibles.

Socios creates fungible fan tokens for soccer clubs, allowing supporters to gain access to VIP prizes and exclusives, as well as voting in non-binding polls on the Socios website about the future of their favorite clubs. Juventus, AC Milan, Barcelona, and Paris Saint-Germain are among the biggest European soccer clubs that have struck fan token arrangements with Socios.

The English Premier League 2020 victor, Manchester City, became the latest high-profile soccer club to enter a contract with Socios when it issued the fungible CITY fan token. However, instead of focusing on fungible choices, the club has announced a collaboration with blockchain gaming startup Animoca to create NFT collectibles.

The soccer industry has always embraced memorabilia, from sticker albums to Corinthian figures. So it’s no wonder that the world’s most prestigious clubs are turning to blockchain and NFTs to build the next generation of virtual treasures.

NFT

OpenSea and Kakao’s Klaytn collaborate to expand NFT across Asia

Klaytn, a Singapore-based public blockchain platform, and OpenSea, a non-fungible token (NFT) market, established a cooperation on Friday to support the Asian NFT ecosystem.

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  • In order to showcase Asian NFT initiatives to a worldwide audience, the alliance involves conference collaborations and ecosystem awards.
  • The largest NFT marketplace in the world supports four blockchains: Klaytn, Polygon, Solana, and Ethereum.
  • The blockchain subsidiary of South Korean internet behemoth Kakao, Ground X, founded the Klaytn Foundation.
  • On its central bank digital currency (CBDC) pilot project, the Bank of Korea collaborates with Ground X.

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Shopify Expands Online Retailers’ NFT-Gated Options

Brands are able to increase the exclusivity of their shops thanks to the e-commerce platform.

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The future of e-commerce, according to Shopify, is in NFTs.

As a new option for brands wishing to make their stores more exclusive, the online retail behemoth, which enables small businesses to construct customized e-commerce shops, is providing NFT-gated storefronts, Shopify announced on Wednesday.

In the Shopify introduction video, which includes a skating woman who passes through a pastel portal and transforms into a Doodles NFT, a voiceover urges viewers to “invite their communities into a world that acknowledges and rewards devotion.”

The video explains that token holders can access special shopping opportunities by connecting a cryptocurrency wallet, including early access to drops and limited collections as well as one-of-a-kind experiences and other surprises.

Only individuals with existing NFT collections are able to apply for early access to Shopify’s “gm” shop, which is a gated merchandise store and a play on the Crypto Twitter acronym for “good morning.”

However, those that haven’t received approval yet can still integrate NFT token-gating apps like Shopthru or Single into their Shopify sites.

Shopify announced that it has already collaborated with the Adam Bomb Squad, Doodles, World of Women, Invisible Friends, Superplastic, Stapleverse, and Cool Cats NFT collections to develop token-gated shops as part of its token-gated business launch.

Shopify is introducing “IRL” token-gating in brick-and-mortar stores in addition to online token-gating, which restricts access to certain merchandise to authorized NFT holders exclusively.

Why is this important? The future of Web3 commerce will focus on exclusivity, for one thing. NFTs, which are distinctive blockchain tokens that denote ownership over an asset, are increasingly employed as membership cards, tickets to events, and “keys” to open benefits, despite the fact that they are frequently oversimplified as digital art or “jpgs.”

Additionally, this isn’t Shopify’s first venture into NFTs: The business has been involved with Web3 since last year, when it announced the launch of NFT sales on its platform. Brands can mine and sell NFTs on Shopify to clients using the Ethereum, Polygon, Solana, or Flow platforms.

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OpenSea, beware—Uniswap is pushing into NFTs

The NFT aggregation platform Genie is being purchased by Uniswap Labs, the organization that created the Ethereum-based decentralized exchange Uniswap.

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In a Bankless interview on Tuesday, Uniswap founder and CEO Hayden Adams said, “We’re attempting to transfer what we brought to the ERC-20 market to the NFT sector.”

You can buy NFTs—individual blockchain tokens that represent ownership—on a variety of different marketplaces, such as OpenSea, LooksRare, or Coinbase NFT. However, few allow consumers to buy many things at once, and none provide aggregation tools that let traders view listings on competing marketplaces.

According to Uniswap Labs on Twitter, “We see NFTs as another form of value in the burgeoning digital economy, and it’s a no-brainer for us to integrate them.”

The NFT aggregator Gem, which also enables customers to acquire numerous NFTs in a single transaction, was purchased by OpenSea just two months prior to the announcement of its acquisition by Genie. OpenSea intends to incorporate NFT aggregation functions into its primary platform, just like Uniswap.

A new tab dedicated to NFTs will be added to Uniswap’s main website later this year as part of the company’s push into NFTs, according to a statement from the company. Additionally, NFTs will be included in its developers’ APIs and widgets.

Uniswap Labs intends to airdrop an unspecified quantity of the stablecoin USDC to Genie’s early backers as a way to commemorate its acquisition. By April 15th, USDC will be given to everybody who had utilized the platform at least once or owned a Genie Genesis NFT. (The business had earlier tweeted that Genie Gem owners were eligible for the airdrop.)

Uniswap entered the NFT market for the first time in 2019 with Unisocks, an NFT that granted holders access to a real pair of socks.

The largest NFT market, OpenSea, has a floor price for Unisocks of 13 ETH (about $15,300) at the time of writing.

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