Sports Sponsorship and WEB3

Sponsorship is an incredibly lucrative revenue stream for sports teams , franchises and athletes around the world today. In 2020 over 57Billion usd was spent on sports related sponsorship alone. Why ? Because it's a legitimate way to communicate with potential users of your product. You can connect with them and add credibility by collaborating with or supporting a launch event , tournament , team jersey or billboard that’s positioned to catch the attention of a user base you’re targeting.

There’s no doubt that it can be an effective method of PR for global brands. The Pepsi brand is now ingrained in the Superbowl halftime show media hype , the FIFA World Cup with Coca Cola and a range of sporting franchises have been gobbled up by the Red Bull drinks company.

The role of the rightsholder here is maximising their potential revenue from sponsorship deals , while also maintaining strong loyalty to their fan bases and credibility in terms of working with firms that their collectors can relate to. This is the ultimate WIN-WIN for brands selling sponsorship rights.

Sponsorship or marketing departments within these organisations will likely be asking a similar question in team meetings , that is , what possible revenue and sponsorship streams will be available to us in the future ? The quicker they can figure this out the quicker they can take action and place themselves ahead of the competition.

Although the question is nothing new , the answer to it is constantly evolving. Ultimately, it comes down to where people are going to consume content. In the last 50 years these mediums have taken the form of newspapers , radio , television , internet sites and social media to name just a few.

At BigFan we’re focusing on what we feel is the next big technological advancement in the space , namely the metaverse.

The metaverse is a bit of a catch all term now but broadly we can define it as a set of interconnected virtual and immersive worlds that are linked to the blockchain.

Games like Roblox , Minecraft and Fortnite can be good starting points when it comes to getting your head around understanding the basic idea (although aren’t not officially metaverse worlds however due to the centralised ownership format).

Roblox for example (the smallest of the 3 games mentioned) has 46 million daily users who spend , on average , 2.6 hours a day playing. Not only this but they spend $15.41 per quarter in game and a massive 67% of users are under the age of 16.

As these immersive games grow and add more and more users to its service , so too will the potential opportunities for sponsorship revenue for sports teams that position themselves within these ecosystems.

These opportunities might be ‘basic’ at first and mimic the real world , like a club building a digital replica of their stadium , building a mini-game for users to play , or releasing a set of exclusive digital jersey replicas. All of these hold the potential to reach fans around the world and so too the possibility to collaborate with brands that hope to position themselves as innovative and forward thinking.

Some examples that have been executed include the NFL releasing skins in collaboration with Fortnite , or the? RTFKT x NIKE digital shoe release.

We are working with various sports based rights holders in order to bring them into this new world. By working with them we can enable meaningful and engaging experiences for their fans , that will in turn create growth in terms of their ability to reach and connect with a global fanbase.

If they are successful in doing so , sponsorship and collaboration opportunities will be organically created in exciting and innovative ways.

Make sure to keep up with all things BigFan as we progress towards launch by joining our discord using this link - https://discord.gg/JPXpG6Sg