Every industry is attempting to figure out how to position itself in the metaverse, and the sports world has a unique opportunity to drive innovation because game broadcasts are the last bastion of live television. Sports are inherently communal, and the metaverse’s premise is to create shared experiences, albeit updated for a technologically infused world.
So, what exactly is the metaverse? So far, no one has reached an agreement. In fact, the term “metaverse” is quickly becoming a marketing gimmick, used as a catch-all term for any new digital concoction in order to gain buzz and SEO at the expense of a clear product vision. Some, like Andre Llewellyn, the CMO of NFT makers Candy Digital, predict that the term “metaverse” will itself fade away just as “information superhighway” did as a synonym for the internet.
- HSBC Joins The Sandbox and Will Collaborate With Its Metaverse Sports Partners
- RTFKT, a virtual sneaker brand, is now part of Nike’s Metaverse inventory.
Here’s what little consensus exists: There is no single metaverse but a collection of disparate 3D worlds, largely built on the blockchain, with the potential for connectivity. It’s a fan engagement tool, a revenue driver, an avenue for direct interaction.
“The way that I define it is it’s the convergence of augmented reality, virtual reality, gamification, digital community and the physical world—that’s a lot,” said Greg Kahn, CEO of Emerging Tech Exchange on a panel he hosted.
