World Table Tennis will join Web3 with NFTs, Metaverse Experiences, and Play-to-Earn Games
World Table Tennis (WTT), based in Singapore, has signed a multi-year agreement to join Web3.
The collaboration will allow WTT to increase fan engagement by providing NFTs, metaverse experiences, play-to-earn, and move-to-earn gaming.
Michael Brown, WTT Chief Financial Officer said,
“WTT has been researching and planning its entry into the web3 space for over 15 months now, studying and analyzing ways in which we can create greater fan engagement through web3. The partnership with NFT Tech is the first major step on this journey. NFT Tech has proven to be a leader in the space when it comes to technology innovation in sport, which we believe is crucial when it comes to growing our sport. We believe that coming up with a Web3 strategy will resonate with our core fanbase and their interests, while also attracting new fans to participate in the world of table tennis!”
Despite football's dominance on Web3, tennis is gaining traction. The Australian Open announced earlier this year the launch of art ball NFTs that connect to live match data and NFTs that honour iconic moments in tennis history.
According to a recent press release, the multiyear partnership will see WTT release "digital collectibles, metaverse experiences, play-to-earn and move-to-earn gaming." WTT also stated that it holds over 50 events per year.
“In many cases, we will be appealing to first-time wallet holders,” NFT Tech CEO Adam De Cata. “Using NFT technology, we will actively explore the 'IRL' utility and access possibilities such as tickets to tournaments, training facilities and online broadcasts to VIP events.”
All four of the main U.S. sports organisations are experimenting with the technology as a method to attract new viewers, so table tennis is hardly alone in the metaverse sports movement.
De Cata is no stranger to NFT crossovers with tennis themes. He used to run partnerships for the popular metaverse game Decentraland, which in January hosted the Australian Open's NFT debut, which was a fan favourite. NFT Tech also worked on that project as well.
World Table Tennis is the commercial and events arm of the International Table Tennis Foundation, the world’s governing body for table tennis.