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The Ethereum NFT Game Sorare signs a deal with Major League Soccer 

The NFT-based fantasy soccer game aims to enter additional sports and U.S. leagues.

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#nft #nfts #sorare

The fantasy football game on Ethereum Sorare is one of the most well-known sports NFT projects on the market, with over 200 real-world partners. Sorare has secured a contract to incorporate the official Major League Soccer license into the game, which comes amid a rising push in the United States market.

The Major League Soccer Players Association had already inked a non-league deal with Sorare. The contract, which was announced in June 2020, contained all of the players as tradable NFT cards with no official team or league branding.

Now, Major League Soccer has signed a multi-year deal with all 28 of the league’s currently active teams, ensuring that Sorare will wear MLS branding during the game. In addition to launching MLS-branded Sorare NFTs this spring, Sorare and the league plan to work on marketing and activation opportunities.

Sorare’s head of business development, Michael Meltzer, told Decrypt that the addition of Major League Soccer to the game will help the company expand its presence in the United States. Sorare’s current focus is on major soccer teams from Europe and other nations, but the company recently opened an office in the United States to look into other possible NFT opportunities in sports.

“We’re aiming to expand beyond soccer into other sports in the future,” Meltzer said, “so MLS was a really fascinating bridge between the worldwide nature of our offering and the U.S. market.”

The first NFT collectibles were released in May 2021, with four pieces of artwork created by street artists and related to specific matches.

The Sorare partnership, according to Chris Schlosser, MLS Senior Vice President of Emerging Ventures, allows the league to reach out to its young, tech-savvy fanbase with an interactive, NFT-driven game. And, while MLS may be able to assist Sorare in breaking into the American market, he sees Sorare’s accession as echoing the league’s own progressive development into international soccer.

“In American pro sports, we have the youngest fans,” Schlosser added. “By far, our fans are the most likely to have crypto or NFTs and to be on the cutting edge of technology.”

Sorare, everywhere

Players gather digital trade cards of their favorite players from multiple leagues and use them in weekly fantasy lineups in Sorare, which puts an NFT spin on fantasy sports. Users receive points based on their players’ real-world performance each week, just like in traditional fantasy sports games, and in Sorare, those points may be exchanged for free NFTs or bitcoin.

The Ethereum NFT represents each premium Sorare trading card. Whether it’s a sports card, profile photo, or video-based collectible, an NFT works as a transfer of ownership to a digital asset. A single Sorare NFT based on player Erling Haaland sold for over 265 ETH, or over $678,000, in January, setting a new high for the project.

Sorare cards, unlike NBA Top Shot and NFL All-Day NFC artifacts, as well as those from Tom Brady’s Autograph program, have added value as playable goods in a fantasy sports game. And the company has big plans, having funded $680 million at a $4.3 billion value last September in order to grow into new leagues, markets, and sports in the future, including women’s soccer leagues.

Meltzer didn’t go into great detail regarding Sorare’s plans in the United States, but he did say that the company hopes to “also grow into two U.S. leagues” in the coming months.

On that front, Sorare is focusing on Major League Soccer, and Schlosser, the league’s president, is thrilled about the potential for NFTs to bridge the gap between digital fanaticism and in-person MLS match attendance. Despite the fact that sports is currently one of the most active areas for NFTs, he feels there is still plenty of space for growth.

“We think the relationship between the digital and real-world experiences is fascinating,” Schlosser added. “Over a period of time, you can see a plethora of use cases there.” When it comes to blockchain and sports, I believe we’ve only scratched the surface.”

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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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NFT

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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