• Andy Marston

101: NBA, NFL stars invest into IPL, BIG3 sells team ownership via NFTs and OneFootball raises $300m

I hope you've had a lovely bank holiday weekend! Sometimes it's good to mix things up so this week I'm trying something slightly different - aggregating and sharing a few of my favourite stories from the past week;

  1. NFL, NBA stars invest in IPL's Rajasthan franchise

  2. If the metaverse is the future, what does it hold for sport?

  3. Ice Cube’s BIG3 Basketball League to Offer Team Ownership Stakes as NFTs

  4. OneFootball raises $300m, creates web3 JV with Animoca, Dapper

I read that Sebastian Vettel has voiced his support of Max Verstappen’s calls for a change to the weekend format in Formula 1...


If you're in Vettel's camp and you'd like to voice your support of the changes (but to the format of this newsletter), let me know by hitting 'reply' - I'd love to hear from you!


Conversely, if you hate it, that would probably good for me to know, too.


Best,

Andy

 

#1

Reuters: NFL, NBA stars invest into in IPL's Rajasthan franchise

The only place you'll see four of the last five NFL MVPs competing at the same time and same place this year is on a golf course.


The Indian Premier League (IPL) has become a gold mine for investors. Franchise values in the league are surging, outpacing the growth of even the NFL and the NBA.


Perhaps then, it comes as no surprise to see that the Rajasthan Royals have attracted investment from Phoenix Suns guard Chris Paul and NFL duo Larry Fitzgerald and Kelvin Beachum.

This investment is extremely timely, too. While cricket has not yet become popular in the United States, the country will co-host the 2024 Twenty20 World Cup alongside the West Indies.


Full Story


This could be the start of a sporting bromance between the U.S. and India.

  • India offers potential ‘Gold’ for U.S. leagues amid China tumult- JohnWallStreet

  • Cracking the India Code: Establishing Global Sports Properties - The Other Eye

  • Shahrukh Khan’s Kolkata Knight Riders set to heavily invest in Minor League Cricket in America - India Today

 

#2

CityAM: If the Metaverse is the future, what does it hold for sport?

Today, the primary application of the metaverse is virtual worlds, where users can interact and engage with apps and services in a more immersive way. This is probably best understood by gamers who already do this to some extent everytime they hang out with friends to play Fortnite or Call of Duty.


In future it will likely offer far more opportunities for users, consumer brands and organisations. But what does it hold specifically for sport?


Well, the metaverse increases the opportunity to directly own relationships with supporters and build highly engaged communities, rather than rely on third-party social media platforms as the destination to interact.


Full Story


Like the LA Rams have done, expect more organisations to set up a 'home' for their fans in the metaverse.

  • Italy's Serie A enters the Metaverse to showcase new way to watch soccer - Reuters

  • Sports Stadiums Could Be the Next Big Metaverse Real Estate Opportunity - Motley Fool

  • SportsIcon to Open Metaverse Where Athletes Can Interact With Fans - CoinDesk

 

#3

Decrypt: Ice Cube's BIG3 Basketball league to offer team ownership stakes as NFTs

The BIG3 basketball league does things differently. 3-on-3 matches, four-point shots, and teams that aren’t tied to cities. And now, the league is ready to rethink team ownership - using NFTs. The BIG3 announced it’ll offer ownership stakes in its 12 teams in the form of NFT collectibles, effectively fractionalizing ownership on-chain. Each team will have 1,000 total NFTs split between two tiers: 25 "Fire" NFTs at $25,000 apiece, and 975 "Gold" NFTs at $5,000 per. Rapper and actor Ice Cube, who co-founded the league in 2017, explained, “This is a great way for the fans to be owners. And so, it's a no-brainer for me. I'm all about changing the game and shifting the paradigm.”


Full Story


New upstart leagues where there is centralised ownership are in a strong position to play with this new NFT model of team ownership.

  • DeGods DAO Buys a Big3 League Basketball Team with NFTs - FX Empire

  • Larry Ellison’s SailGP to launch sports team DAO - Ledger Insights

  • Fan Controlled Football Adds Bored Ape NFT Expansion Team - Boardroom.TV

 

#4

Ledger Insights: OneFootball raises $300m, creates Web3 JV with Animoca, Dapper

Football news and video platform OneFootball has raised a $300 million Series D funding round led by blockchain investor Liberty City Ventures. Additionally, the company has created a web3 joint venture, One Football Labs, with blockchain games firm Animoca Brands and Dapper Labs known for its sports NFT deals with the NBA and NFL.


The German sports platform has 100 million active users and several leading soccer clubs are shareholders, including Barcelona, Bayern Munich, Chelsea, Juventus, Liverpool, Manchester City, PSG, and Real Madrid. Most came on board when OneFootball acquired football streaming platform Dugout in December 2020.


The goal of the Labs joint venture is to enable clubs, leagues, federations and players to create blockchain-based fan experiences.


Full Story


Sport is being increasingly recognised as the vehicle to take tens of millions across from Web2 to Web3.

  • Fan Engagement app FanHub launches a crowdfunding campaign with Seedrs to move into Web3 and reward the fan - LinkedIn

  • DraftKings Links NFTs to Betting Products in Web3 Push - Blockworks

  • This DAO says it raised $10.4 million in 48 hours selling NFTs. Next, it’s planning to buy a golf course - CNBC

 

Quick ask... It takes me hours each week to put these newsletters together so if you enjoy them, it would be amazing if you could subscribe and/ or share them with friends and colleagues. Thank you!


Note - to get access to all links please subscribe and access via email.