TVM, a Korean company, has been named LaLiga’s official metaverse partner, and the two will collaborate to develop an official digital environment that will engage fans and combine the Spanish soccer league’s other partners, thesportsbay.com reports.
The blockchain-based ‘Triverse,’ according to TVM, is a’metaverse for sports,’ in which different leagues and teams may construct interactive experiences, such as cities, for fans to explore, access content, and play mini games.
The league claims that Web 3.0 will broaden its appeal, particularly among younger demographics and international audiences, and that it is a significant step forward in its own digital transition.
“A few years ago, we understood we needed to internationalise and start a digitisation strategy to reach global audiences,” said Jorge de la Vega, commercial and marketing director of Liga during a launch event to announce the partnership.
“We’ve worked to increase our digital ecosystem and we now have 150 million fans [in that ecosystem], while local and international television audiences are growing.
“The key is to have these fans at the centre of everything and you need to engage in various channels and give the users what they want. It’s not just about generating content, but reaching the biggest possible audience.
“We’ve been working on different environments, and we have a multi-disciplinary team at LaLiga to see how these commercial, legal, content and marketing to see how these new technologies could deliver new experiences and content.”
LaLiga’s space will include official content from its clubs, including press conferences, club announcements, match highlights and player interviews.
The integration of the organisation’s partners will also lead to further engagement opportunities and activations that add value to the league’s commercial deals. Eventually, live broadcasting could be a feature in the long term.
“The key goal [of this partnership] is that we offer fans something different … [such as] engagement and [realise] monetisation opportunities that simply aren’t possible in the real world,” added de La Vega.
The initial deal is for two years with the option to extend further and includes scope for individual clubs to get involved and build experiences on TVM’s platform.
Inevitably, non-fungible tokens (NFTs) are part of the equation, with fans earning rewards and experience points by consuming content in the metaverse, winning ‘valuable’ items and goods.
“The reward system will revolve around NFTs, as blockchain technology and NFTs go hand in hand,” said Josh Kim, managing director of TVM. “So, naturally, we will have our own trading platform for NFTs. Users will join as fans of a particular sports property, and will have to devote time and energy to building their fan city. At some point, they will be able to see and compare how their fan city has performed compared to other club cities.”
TVM is one of many firms looking to build metaverse platforms and sees sport as an effective vehicle to build its business and achieve scale.
“To have a successful metaverse we need IP from sports properties, but the most thing is the fans,” added Kim. “Engagement is the most important thing.”
LaLiga already has a separate deal with another metaverse application, GreenPark Sports, which offers a LaLiga-themed ‘universe’ in which fans interact with each other using avatars and compete against each other in various challenges and applications.