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Crypto Corner: The Sports Slice

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Last week was host to the first-ever sports sponsorship proposal in a major crypto ecosystem (also featuring a major sports nexus) – but why stop there? Sports Illustrated is following many other mainstream magazine publications (such as SLAM) to enter the NFT space, Nike and StockX are battling it out, and there’s an Olympic-sized NFT game coming to market.

Let’s review all the action from the past week around sports and crypto.

The sports slice

OneOf partners with Sports Illustrated

OneOf has been making headlines for the past 8 months in the music world, partnering with major artists for some of their first tastes in NFTs. Now the platform is expanding into new territory, starting in February with a new announcement of a partnership with Sports Illustrated.

While OneOf’s music platform runs on Tezos, OneOf and SI will team up for NFTs on Polygon, with a jumping off point to relive the classic sports magazine covers that SI has published over the past 70 years. The platform is expected to launch later this month.

Nike sues StockX

Sportswear stalwart Nike and hypebeast consignment e-commerce platform StockX are at odds, as Nike filed a lawsuit last week against StockX’s new “Vault NFTs.” The clothing brand has filed a federal lawsuit against StockX, claiming the NFTs infringe Nike’s intellectual property without the brand’s endorsement.

Terra: The First DAO Sports Sponsorship Proposal

Terra became one of the top 10 tokens by market capitalization in the entire crypto market late last year, and has held steady ever since. This week, Terra creators Do Kwon and Terraform Labs submitted a new proposal through the Governance Office for Terra Holders: a new sports sponsorship deal.

The nearly $40 million five-year deal is likely to close – and while many details are still unknown, we’ll likely see Terra – the arguably creators of the leading decentralized stablecoin – somewhere in a sports arena. major in the coming months. This is the first documented time we’ve seen a DAO vote on a sports sponsorship deal.

Entain’s new Metaverse product, Ennovate

Entain is a market leader in sports betting in Europe and the UK. a press release dated January 31, Entain announced Ennovate, a new innovation center that will partner with technology companies to invest in innovative start-ups and projects. A dedicated innovation lab is also expected to come to London. NFT, AR and VR, and VR arcades are cited as three main buckets that Ennovate will begin to focus on.

Related Reading | NFTs in brief: a weekly review

Polygon once again has found it's name sprinkled throughout weekly reports in sports and crypto. This week, Polygon is being utilized on a new sports magazine marketplace effort from OneOf and Sports Illustrated, and will also host the new NFL Super Bowl NFTs. | Source: MATIC-USD on TradingView.com

Super Bowl attendees will receive NFT

If you’re in Los Angeles for this month’s Super Bowl, you’re eligible to get a personalized NFT Super Bowl. It’s the latest push into NFTs from the usually hesitant NFL, which launched its first commemorative tickets just a few months ago. The NFL has reportedly distributed over a quarter of a million NFTs since their initial launch. NFTs are minted on Polygon.

The league has mostly left teams on hold — but this latest move shows optimism about the NFL’s outlook on crypto.

Kobe Bryant Estate, Bronny James, and Other Recent Trademark Filings That Signal Metaverse Moves

Kobe Bryant‘s estate filed trademark applications late last week that would be for digital objects, like art, NFTs or clothing (or a combination of the three), according to attorney Josh Gerben .

Also on file this week, according to LeBron James’ son Gerben Bronny James.

IOC launches new NFT-based game ahead of Beijing Olympics

In June 2021, we covered news of the International Olympic Committee’s (IOC) first foray into NFTs through a new deal with the nWayPlay platform. This platform has now launched for free on Android and iOS, with users able to compete to win Olympic digital pins. nWayPlay is a subsidiary of Animoca Brands, and this recent initiative was launched on the heels of the Beijing 2022 Winter Games.

Related Reading | NFT Music: A New Era of Song Performance Has Arrived – Does It Make Consuming Traditional Music Irrelevant?

Featured image from Pexels, Charts from TradingView.com
The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.