Ping pong is the most recent sport getting the crypto remedy.
World Desk Tennis (WTT), the occasions arm of the game’s governing physique, mentioned Wednesday it’s pursuing Web3 initiatives in partnership with non-fungible token startup NFT Tech – in an effort to broaden the sport.
The multiyear tie-up will see WTT subject “digital collectibles, metaverse experiences, play-to-earn and move-to-earn gaming,” based on a launch shared with CoinDesk. WTT informed CoinDesk it runs greater than 50 occasions a 12 months.
Desk tennis is hardly alone within the metaverse sports activities motion: All 4 main sports activities leagues within the U.S. are experimenting with the tech as a strategy to have interaction new audiences.
Whereas it’s unsure precisely what function crypto may have in the way forward for these sports activities, it’s changing into clear that almost all sporting organizations are maintaining a detailed eye on Web3 as a progress and advertising and marketing device, particularly for its youthful, tech-savvy demographics.
“In lots of circumstances, we might be interesting to first-time pockets holders,” NFT Tech CEO Adam De Cata mentioned in an e-mail. “Utilizing NFT expertise, we are going to actively discover the ‘IRL’ utility and entry prospects reminiscent of tickets to tournaments, coaching amenities and on-line broadcasts to VIP occasions.”
De Cata isn’t any stranger to tennis-themed NFT crossovers. He beforehand ran partnerships for the favored metaverse sport Decentraland, which in January hosted the Australian Open’s NFT debut – a fan favourite. NFT Tech labored on that venture as nicely
Learn extra: Australian Open Apes Into Tennis NFTs and Decentraland, Too
Desk tennis is alleged to be the third-fastest-growing sport in middle-age demographics and eighth-most in style on this planet, with its Olympic viewership at all-time highs.
The game can be changing into more and more financialized, with tennis table-related sports activities betting an unlikely hit throughout U.S. betting markets.