The concept of nonfungible tokens (NFT) came into existence in 2015, and it first got some traction in 2017 when many prominent digital collectibles such as CryptoPunks and EtherRock were created. NFTs got early traction among premier sports clubs but burst into mainstream popularity after digital artist Beeple’s artwork was sold as an NFT for over $69 million. The Beeple event caught the attention of the world and proved to be a breakout movement for the NFT ecosystem. Today, most of the mainstream household brands, premium sports and clothing brands, celebrities, sports stars and influencers have got involved in the …

Australian media company Basketball Forever has announced a nonfungible token (NFT) project titled Hoop Hounds, which seeks to increase NBA fan engagement and provide substantial real-world utility for the tokens. Critics of NFTs have consistently taken aim at the supposedly ineffectual nature of the tokens, with “right-click save” memes doing the rounds. However, more recently there has been an uptick in utility-focused NFT projects, such as the Bored Ape Yacht Club and Top Shot, where holders are provided exclusive access to real-world events and products. Basketball Forever, the NBA-focused subsidiary of sports media company Forever Network, has developed high levels …

On Thursday, cricket nonfungible token (NFT) platform Rario announced that it secured $120 million in Series A funding in a round led by Dream Capital, the venture subsidiary of Dream Sports. As told by Rario, it currently has the largest share of cricket NFT rights via partnerships with six international cricket leagues and a roster of over 900 cricketers. Dream Sports is a sports technology company based in India with more than 140 million users. Through this partnership, Rario can potentially increase its exposure to a much larger audience. Rario is a Singapore-based company that was founded in 2021 by …

Following an unsuccessful venture in purchasing English football team Bradford City F.C in December 2021, WAGMI United — an innovative Web3 brand utilizing blockchain mechanics and the global sporting culture — has announced the acquisition of English fourth-division team Crawley Town Football Club. Founded in 1896, the West Sussex club known as the Red Devils have endured a turbulent existence both on and off the pitch. Triumphs including two league-winning promotions, four standard promotions and seven cup trophies — four being the Sussex Senior Challenge Cup — provide the fans with positive memories, but incidences like the 2006 administration following …

ESPN and Autograph, the nonfungible token (NFT) platform co-founded by Tom Brady, announced a multi-year partnership on Wednesday that kicks off with a documentary release and an NFT collection. A 10-part ESPN+ documentary series called "Man in the Arena: Tom Brady" chronicles the milestones of the NFL legend's career through a psychological and emotional lens. The docuseries is produced by Religion of Sports, a media company in which Brady is also a co-founder. Autograph and Religion of Sports designed the “Man in the Arena: Tom Brady Collection” to be ESPN's first series of NFT collectibles. Dropping at the same time …

Digital asset sporting project Chiliz has announced the launch of the Scoville testnet for the newly-established layer-1 blockchain network Chiliz Chain 2.0, also known as CC2. CC2 will seek to advance the Web3 capabilities of high-profile sporting and entertainment firms to create nonfungible token (NFT) and fan tokens, construct decentralized finance (DeFi) applications and play-to-earn (P2E) games, as well as implement a range of programmes and services for their community. Founded in 2018, and headquartered in Malta, Chiliz has established itself as the leading digital asset for sporting engagement, with their native token, $CHZ serving as the primary currency within …

Iconic former English Premier League footballer, David Beckham, has become a global brand ambassador for the DigitalBits blockchain, launching his own range of NFTs in the process. Beckham will release a series of NFTs and “other Blockchain-based digital assets” according to the brand ambassador announcement, with minting taking place on the DigitalBits blockchain. Excited to announce #DavidBeckham has become a Global Ambassador for #DigitalBits! Get ready to explore the world of #Blockchain, #NFTs and #Metaverse with Beckham. More details https://t.co/yafO7W2OuL Thread pic.twitter.com/n54BMeDsnE — DigitalBits (XDB) (@DigitalBitsOrg) March 24, 2022 Beckham said the NFT collections were an “opportunity to create new …

The cryptocurrency community has always put an emphasis on decentralization and globalization. Therefore, it shouldn’t come as a surprise that a number of crypto companies are sponsoring Formula 1 (F1) racing teams in an attempt to further connect with audiences across the world. Research by global analytics company Nielsen Sports found that Formula 1 has the potential to reach about one billion fans globally this year, with the 16–35 age group accounting for the biggest share. The appeal of F1 is clearly on the rise, and cryptocurrency companies are jumping on board to demonstrate their presence. To put this in …

FIFA, an international governing body for many major soccer tournaments, has announced that cryptocurrency exchange Crypto.com will be an official sponsor of its next World Cup in Qatar. In a Wednesday announcement, the association said Crypto.com’s branding will appear both inside and outside of stadiums for the FIFA World Cup Qatar 2022 scheduled to begin in November. The crypto exchange will provide opportunities for its users to attend matches and win official merchandise as part of the sponsorship. According to FIFA chief commercial officer Kay Madati, the deal will help grow the games “on a global scale,” citing Crypto.com’s partnerships …

German GT racer Laura-Marie Geissler, creative agency Amsterdam Berlin and NFT startup Unblocked partnered up to launch the first nonfungible token, or NFT, funded motorsport team. Named after the driver herself, the LMG racing team has decided to forgo external sponsors to fund Geissler’s race season by way of NFT sales. Whether she earns the necessary amount to race or not in the upcoming season will depend solely on her fans. Geissler and her partners originally announced their campaign during the first weekend of South by Southwest, or SXSW, in Austin, Texas to in-person visitors of the Porsche Unseen installation …

Ultimate Fighting Championship fighter Matheus Nicolau is the latest world-famous athlete to opt to receive his fight earnings in the largest cryptocurrency, Bitcoin (BTC). The eighth-ranked UFC flyweight fighter, Nicolau received his first salary in Bitcoin on Monday through a deal assisted by Bitwage payroll service, according to a joint announcement shared with Cointelegraph. The Brazilian sportsman has opted to take a paycheck in BTC to hedge against the rising inflation. Nicolau said that earning Bitcoin will help him secure the value of his hard work and not to worry about his money going to waste, adding: “I make my …

Naomi Osaka, once one of the highest-ranked tennis players in the world, has become the latest figure in sports and entertainment to endorse crypto exchange FTX. In a Monday announcement, FTX said Osaka will be taking an equity stake in the exchange as well as receiving an undisclosed amount of cryptocurrency as compensation for her endorsement. According to the crypto exchange, the tennis star will be part of a “long-term partnership” aimed at bringing women into the space. "We have seen the statistics about how few women are part of crypto by comparison, which kind of mirrors the inequality we …