Here's your weekly review on what happened at the intersection of NFTs and Sports:
- 📰 Sports Illustrated launches NFTs on OneOf
- 🏏 International Cricket Council partners with FanCraze
- 💰 Entain builds Innovation Hub for NFTs and the Metaverse
Let's have a closer look! 👀
📰 Sports Illustrated launches NFTs on OneOf
Sports Illustrated announced that "iconic magazine covers will soon be available as NFTs and will feature some of the most well-known and respected athletes of all time including Jerry Rice, Billie Jean King, Emmitt Smith, and Muhammad Ali." This is done in a partnership with NFT platform OneOf and Jonathan Winbush, an award-winning 3D animation artist. Why a 3D artist? The first drop will also include reimagined 3D-animated versions of the historic covers.
🏏 International Cricket Council partners with FanCraze
The International Cricket Council (ICC) has released the first pack of "ICC Crictos", the "official and exclusive range of digital collectibles featuring the greatest plays in international cricket from the ICC’s extensive archive". The partnership with FanCraze "enables fans to collect and trade their own slice of cricket history from a range of ICC events". The drop is divided into three different packs: Base Packs, Booster Packs and Hotshots Packs. "The number of Crictos vary by pack-type and Crictos will vary in their rarity across four tiers: Common, Rare, Epic and Legendary with Common Crictos being the most minted whilst Legendary will be the rarest."
💰 Entain builds Innovation Hub for NFTs and the Metaverse
"Sports betting and gaming group Entain is spending £40 million ($54 million) to create an innovation hub in London to build and trial entertainment tech. The hub, called Ennovate, will come with an experience zone for people to try immersive experiences in sports, gaming and interactive entertainment. The project will also reportedly be developing products for the metaverse. The money for the Entain London hub will be part of a bigger £100 million ($135 million) investment in projects, startup investments and collaborations, per the announcement." Ennovate will also feature NFTs, which they are developing for brands across the Group.
🤓 Wrapping it up
So what have we learned in this issue?
- Picking partners. Both Sports Illustrated and the ICC have launched their NFT portfolio on partner platforms that are not so well-known yet, with OneOf and FanCraze respectively. We can't highlight enough how big of a decision this is. Bringing products onto the blockchain means that they are basically immortalised. It also ties you to the success of your partner's business. If they struggle to gain market value your NFTs will likely do as well, no matter how big your name is. And what if your partners' business shuts down? NFTs could be bridged to other blockchains but that causes a lot of effort. Better make sure to pick a good partner :)
- The NFT ecosystem is growing. While startups, scaleups and investors move forward with lightning speed the ecosystem around them is still doing some catch-up. Ennovate is one of the first innovation hubs dedicated to help companies grow in the sports NFT space, and many others will follow. We expect a significant amount of initiatives like accelerators, incubators and others to pop up over the course of the year.
And that's it for this weeks issue! And as always: Feel free to reach out for feedback and to discuss all things NFT and sports! To stay up to date: Make sure to follow us on Instagram and Twitter for stats, drop announcements and more.