Sports
Table tennis becomes crypto with plans for NFT, Web3 crossovers
Ping pong is the latest sport to get the crypto treatment.
World Table Tennis (WTT), the event branch of the sport governing bodysaid Wednesday it is pursuing Web3 initiatives in partnership with non-replaceable token startup NFT Tech in an effort to expand the game.
Through the multi-year partnership, WTT will release digital collectibles, metaverse experiences, play to earn and earn gaming, according to a release shared with CoinDesk. WTT told CoinDesk that it hosts more than 50 events a year.
Table tennis is hardly alone in the metaverse sports movement: All four major sports leagues in the US are experimenting with the technology as a way to attract new audiences.
While it is uncertain exactly what role crypto will play in the future of these sports, it is becoming clear that most sports organizations are closely monitoring Web3 as a growth and marketing tool, especially for the younger, tech-savvy demographic.
In many cases, we will be calling on new wallet holders, Adam De Cata, CEO of NFT Tech, said in an email. Using NFT technology, we will actively explore ‘IRL’ utility and access options such as tournament tickets, training facilities and online broadcasting for VIP events.
The Cata is no stranger to tennis-themed NFT crossovers. He previously led partnerships for the popular metaverse game decentralized, which hosted the NFT debut of the Australian Opens in January, a fan favorite. NFT Tech also worked on that project
Read more: Australian Open Apes Into Tennis NFTs and Decentraland, Too
Table tennis is said to be the third fastest growing sport in middle-aged demographics and the eighth most popular in the world, with its Olympic viewers at all time highs.
The sport is also increasingly being financed financially, with tennis-related sports betting an unlikely hit in the US betting markets.
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