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11.August 2022

Crypto Corner: The Sports Slice

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One platform has raised $10M to build the next blockchain sports game, while several other sports crypto platforms have fallen. Meanwhile, a new Seton Hall survey shows that there’s a strong audience interested in both sports and crypto – and the UFC has yet again another crypto partner.

Every weekend, we provide you with a weekly dose of sports and crypto crossover. Let’s review everything from last week.

Professor Charles Grantham, Director of the Center for Sport Management within Seton Hall’s Stillman School of Business, sponsored the ~1,500 person survey and had this to say:

“The numbers would seem to indicate that NFTs represent fertile ground for leagues to enhance the fan experience… but, perhaps because teams and leagues don’t fully understand the nature and potential of NFTs and perks like a digital VIP card, that ground has yet to be sown effectively by major sports organizations in the United States.”

California-based SuperTeam Games has raised a hefty $10M to build a sports blockchain-based video game. Team members of SuperTeam Games sat down in an interview during Consensus 2022 in Austin, describing the atmosphere as “untested,” riddled with distrust from traditional gamers.

While it was Henchman himself who described the category as being that ‘new flavor’ with all the attention, he also said that the sponsorship category isn’t going anywhere. About these big-spending incoming players, he added:

“They obviously need a lot of noise and exposure at the moment in terms of what they’re putting out to the market… They’re paying either market value, or they’re competing at such an aggressive level that it’s difficult for traditional partners to perhaps keep up.”

Another week, another “first ever” sports league rolling out NFTs; this week, it’s Topps and the Scottish Professional Football League commemorating SPFL champs Celtic. Topps will roll out NFTs from the top division of the SPFL, the Premiership, consisting of 12 clubs in the league.

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