How soccer teams can make money in the Metaverse
The metaverse is not going unnoticed by the world of football and more teams and institutions are betting on the union of these two worlds. The metaverse offers teams the ability to monetize a global audience and football offers metaverses entertainment that attracts millions of people. Teams of the stature of Manchester City and FC Barcelona are already entering these parallel worlds. In turn, there are metaverses, like MetaSoccer and NFT games, like Sorare, where everything revolves around soccer.
Soccer and Metaverse
Soccer video games have been major players in the video game market in recent years. According to data from EA Sports, the popular soccer video game FIFA managed to raise $6 billion between 2015 and 2020, through its well-known Ultimate Team game mode. A number that grows exponentially year after year. Thus, it is expected that the same thing can happen with the metaverse and NFTs. Sorare, the company that has created fantasy football with NFTs, is already valued at $3.6 billion.
Possibilities of the Metaverse
Although they have been with us for a long time, it was Facebook’s announcement in October 2021, saying that it wanted to be a Metaverse company, that triggered attention on these virtual worlds. Metaverses are virtual spaces where people interact with each other with their avatars. The idea of metaverses has been with us almost since the beginning of the internet, with spaces like Second Life or Habbo. However, the introduction of Blockchain technology and NFTs have taken the metaverses one step further, by allowing individual property and the creation of economies and markets, multiplying the possibilities of all types of companies. In this particular case, that of soccer teams.
The example of Manchester City
A clear example of how football clubs can get involved in the metaverse is what Manchester City wants to achieve by building a virtual replica of their stadium. The club, in collaboration with Sony, aims to build a realistic representation of the physical pitch that will serve as a virtual meeting point for fans from around the world. In this Manchester City metaverse, fans will be able to create their personalized avatars and attend matches in a more immersive way, from anywhere in the world.
This example, which could be replicated shortly by all the teams, shows the full potential of virtual worlds. Any football fan knows that the experience of watching a game in the stadium has nothing to do with watching it on TV. Only live, fans are aware of how difficult it really is to play this sport. However, football stadiums are limited in space and, above all, in geography. This is where the metaverse and virtual reality can offer a unique experience, allowing total immersion in the stadium. Users can sit with their avatar in their living room, but experiencing what the fans feel in the stands.
More business possibilities
For teams, the metaverse multiplies their sources of income, since all the commercial actions of the real world can be replicated in the virtual worlds. If currently a large part of the income comes from the members who attend the games in your stadium, now this income can be multiplied exponentially with the people who can attend the stadium virtually. Similarly, if a lot of revenue comes from selling jerseys, avatars will also want to wear their club jerseys. The same goes for stadium sponsors. The income from these sponsorships can be multiplied in the virtual worlds.
In the same way that the world of football can take advantage of the metaverse, the metaverse can also take advantage of football. In this sense, some metaverses dedicated solely to the world of football have already appeared, such as Metasoccer. A “decentralized” blockchain metaverse that promises to combine 3 markets with great potential: video games, soccer and sports betting. This entire metaverse will be built on the Polygon network and powered by NFTs.
Likewise, one of the games with NFTs that has grown the most in recent months is Sorare. A virtual fantasy football game, similar to Comunio, with the big difference that it uses blockchain technology to convert game earnings into real life earnings. This game has already reached agreements with the main professional football leagues. Soon enough, when the prospect of the metaverse becomes more standard in Africa, the Nigerian Premier Football League as well as other intercontinental bodies can incorporate it.