The Metaverse is set to have its first football stadium, and it will be built by English Premier League (EPL) football club Manchester City.
According to information availablethe EPL champion has signed a three-year partnership with VR specialist Sony to help them build a virtual version of their physical stadium, the Etihad.
Man City will build the Etihad Stadium in the Metaverse
Although the project is still in its infancy, virtual reality specialists have made an on-site assessment of the Etihad Stadium to map the digital version of the stadium.
With this build, the Etihad Stadium will go through a process of transformation to become the club’s central hub in a virtual reality world using Sony’s Hawk-eye skeleton tracking and image analysis technology.
Apart from this, the club expects this new development to help them increase their revenue due to their large number of internet fans.
While talking about the various benefits of the metaverse, the club’s chief marketing officer, Nuria Tarre, pointed out that the planned project will provide fans with a virtual experience to watch their matches live, recreate matches and fill the stadium as they wish.
Additionally, there are indications that the team is considering allowing players and club fans to meet in the metaverse while possibly purchasing virtual club merchandise in the metaverse.
This is not the first crypto-related project Manchester City would attempt. The seven-time Premier League champion has a fan token ($TOWN) and, late last year, suspended a partnership with a crypto startup, 3Key, due to the company’s lack of online presence.
Sports and Crypto Continue to Intertwine
the the crypto space has leveraged the sports industry for its growing popularity.
Just recently, the Super Bowl event had a plethora of crypto-related ads sponsored by crypto exchanges like Coinbase, FTX, and others.
The ads led to a spike in crypto app downloads. According to available data, companies whose ads appeared in the Super Bowl saw their download rates increase by more than 200%.
Other than that, football teams like Porto, Napoli SC, and Watford have signed partnerships to varying degrees with crypto projects.
Also a investigation shows that more than 20% of people would spend some of their time watching content like sports and entertainment in the metaverse in the next few years.
And recently there was reports that the English Premier League could be on the verge of awarding their NFT rights worth over $500m to one of Sorare, Dapper Labs, Candy or ConsenSys that reached the final round of bidding.
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