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Metaverse in sports

The metaverse has enormous potential in the sports industry. It can be used to build virtual stadiums in which fans can watch games and interact with one another. It can also be used to build a virtual training ground for players to hone their skills. Furthermore, metaverse can be used to create virtual worlds in which fans can explore and learn more about their favorite teams and players.

There are many Metaverse use cases in sports industry. Some examples include virtual ticketing, virtual voting, virtual training, virtual reality sports broadcasts, virtual sports betting and virtual sports tournaments. One potential Metaverse application in sports is virtual reality sports broadcasts. With virtual reality sports broadcasts, sports broadcasters could offer viewers an immersive, virtual reality experience when watching live games. This could include features such as being able to choose your own camera angles and interactive elements. Metaverse developers and blockchain technology experts are working together to revolutionize the sports industry with metaverse app development for fans to engage with their favorite teams and players.

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The Use Cases of Metaverse in Sports

  • Consume sports - Better than ever
    Sports fans will gather in a virtual sports arena with their virtual avatars to buy and wear fan merchandise from their favorite clubs, socialize, celebrate sports with other fans, and, of course, watch games and events. Of course, there are no longer any geographical or physical barriers. Any number of German fans can watch the Superbowl in a Metaverse stadium in the Metaverse.
    Spectators can even enter the field and walk alongside the players, join the football cheerleaders, and watch the game from various vantage points thanks to multi-view camera technology. Finally, Metaverse allows people to sit in the same room as their friends, even if they are physically miles apart.
    In the Metaverse, fans will not only be present at sporting events, but will be right in the middle of them, from the comfort of their own home on the couch or computer chair.
    Once again, this appears to be an unattainable vision of the future, but the Metaverse is a step further than you think. Manchester City is the first soccer team to announce that the Etihad Stadium will be virtually recreated in the Metaverse. This will allow soccer fans to watch live matches without having to physically enter the stadium. Here, development has already begun.
  • Fan Articles as NFT
    Manchester City's archrival has already arrived in the metaverse. Manchester United has begun creating and marketing digital fan merchandise in collaboration with Tezos (XTZ). Fans can purchase these as NFTs, collect them, and wear them in the Metaverse in the future.
    With its NBA Top Shots project, the NBA has also relied on digital fan merchandise since 2020. In this case, on trading cards, specifically video trading cards. Each digital video trading card depicts a significant moment in NBA history and can be collected and traded as NFTs. The most expensive moment to date sold for $387,600 and features a dunk by LeBron James of the Los Angeles Lakers from their game against the Houston Rockets on February 6, 2020. Kobe Bryant, a Lakers legend, had died in a helicopter accident 11 days earlier. LeBron James paid tribute to his late friend with his dunk.
    These examples demonstrate unequivocally that this digital driving experience provides lucrative opportunities for rights holders and manufacturers. Above all, the concept of "owning" virtual objects opens up a slew of new revenue opportunities for businesses.
  • Sports Training Opportunities in the Metaverse
    But it's not just the way we watch sports and the digital fan experience that will change. The metaverse will also have a significant impact on sports training. Videos have been an integral part of sports training since the advent of platforms such as YouTube, particularly for newcomers to sports or self-taught athletes. Fitness programs and sports apps were also made possible for the first time by mobile Internet and smartphones.
    The Metaverse is likely to bring about advancements in this area as well. Fitness coaches appearing as holograms in one's own living room, as well as training sessions with the world's best sports trainers, even if they are on the other side of the world. There appear to be no bounds to the possibilities here.
    Companies like smart bike manufacturer Capti are already working to bring sports training into the metaverse. Unlike well-known manufacturers Peloton and Zwift, Capti's gamified cycling platform is based on Unreal Engine 3D worlds. This allows the platform to work with existing virtual worlds. In this way, it's possible to use your own bike for Mario Cart races or simply to get around in a digital parallel world like Second Life.

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Metaverse in banking and finance

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NFTs, or non-fungible tokens, became a popular topic in 2021's digital world, comprising digital music, trading cards, digital art, and photographs of animals. Know More

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