The metaverse’s most recent arrival has now offered all sports teams, clubs, and players with a fresh chance – a billion-dollar one, according to some.
Morgan Stanley, a worldwide financial services firm, estimates the metaverse to be a $8 trillion industry and describes it as the next-generation social media, streaming, and gaming platform.
Technology has aided not only telecommunications and income generation but also athletic potential through a variety of performance-enhancing skills. Consider the third umpire in cricket, VAR in football (which is disputed), or a variety of technology utilized in a variety of high-tech sports.
According to Yahoo Finance’s Global Sports Market Opportunities and Strategies Report 2021, the global sports market is expected to reach $599.9 billion by 2025, and $826 billion by 2030 when COVID-19 lockdowns are eased further. Much of this can be ascribed to esports, sponsorships, and accessibility, as well as technology use. The COVID-19 pandemic demonstrated how technology allowed people to stay connected even when they were physically separated.
Web3 has moved the power away from major businesses and handed it to the users – fans, people who make the clubs, and athletes — who have made Web2 a success. They are no longer merely spectators; they now have control over the metaverse’s narrative and actions. Who wouldn’t want to be a part of that?
The metaverse is now being used to reward fans for activities that aren’t only live games. In the metaverse, teams and athletes can stream live to supporters in virtual stadiums.
MetaSoccer is a new game in the Play2Earn universe that provides fans the power they seek. Consider a football manager-style game in which users create their own team to manage, with supporters having direct ownership of the players they buy and control via NFT purchases. Even the MetaSoccer devs can’t take these NFTs away because the game has direct ownership! Users can always sell or trade in-game NFTs on open marketplaces in order to recuperate their worth.
MetaSoccer is the first blockchain-based soccer metaverse, allowing users to run their own club and earn money (P2E) while playing. Every user can actively participate in numerous ways and earn rewards for their contributions to the ecosystem in this soccer manager-style P2E game. Winning matches, finishing first in the league, selling and lending out players, charging commissions, selling sports scouts, obtaining sponsorship contracts, betting, renting your stadium, and selling tickets to supporters are ways to make money.
Users can use $MSU tokens to make transactions in MetaSoccer, and they also have the ability to vote on game decisions in the future. This is exactly what fans have been waiting for: a chance to prove themselves as more than just bystanders; they may now fully immerse themselves in their metaverse role.
Since 2020, the NBA has used the metaverse and NFTs as part of its NBA Top Shot project. This project takes the concept of trading card games and turns it into video trading cards depicting key moments in NBA history. NFTs are a way for fans to collect and trade them.
Capti, a smart bike maker, is harnessing the metaverse to deliver athletic training to a global audience from a somewhat different perspective. Capti has designed a gamified cycling platform that is compatible with existing virtual worlds using 3D technology. As a result, gamers can ride their own bicycles in the Tour de France, compete online in a Mario Cart game, or simply ride around in a virtual world like Second Life.