Imagine sitting on your cosy sofa but at the same time being in the middle of Wembley Stadium supporting your favourite team…
Well, this vision is closer to reality than you may think. Why? Thanks to the Metaverse.
Read this article and get the answers to the following questions:
The idea of the Metaverse is uncanny. It’s a type of digital universe that is being enhanced with Augmented Reality and Virtual Reality. This alternative and limitless digital universe enables its users to interact with each other, purchase goods, apply for jobs, and use virtual capabilities without geographical and physical barriers.
Although it might sound abstract, this is the future of engaging new “digital” generations starting from #GenZ.
The Metaverse is not only limited to high-tech industries. It’s quite the opposite – it goes far beyond, especially in ESE (Entertainment, Sports and Esports).
The Metaverse relies on blockchain, as this technology enables users to preserve their digital assets. It keeps the record of transactions secure and decentralised with no other parties involved.
The Metaverse gives opportunities that had never been seen before, for instance:
The industries that are likely to benefit the most from implementing technological solutions, like those present in the Metaverse, are without a doubt the ESE industries.
The Metaverse could be used by organisations and sporting teams to empower the engagement of existing supporters to unprecedented heights, but also to reach for the new streams of revenue.
The Metaverse is a growth opportunity, and a fan engagement tool, that is a perfect investment for those, who put the close relationship with supporters in the first place.
Starting from the #GenZ, which is a first generation that does not know the world without the Internet, brands need to seek new solutions on how to engage the following generations.
Nowadays, the supporters are keen to spend money, often through TOKENS, to get the virtual experiences and rewards that can be delivered to them within a digital world. With the growing popularity of NFTs, more and more potential for using them is being invented.
Source: Fortune.com, Sony.co.uk, TheVerge.com
More and more businesses are trying their best to get in front of the competition and that is why they keep an eye on the Metaverse. The biggest market players see huge potential in digital transformation. The benchmark when it comes to innovative digital solutions in sports is the NBA. Partnering with Horizon Venues, NBA broadcast games in VR. Those might be watched either in solo mode, but also together with other fans and friends within the Metaverse.
In football, Manchester City was the first club to recreate their Etihad Stadium in Virtual Reality. As a result, the supporters will be able to watch the games as if they were present in Manchester no matter where exactly they are in reality.
Additionally, Serie A, the Italian top league, live-streamed a game in a virtual universe using NFTs as the tickets.
When it comes to broadly defined entertainment, one of the most famous rappers – Travis Scott – performed an outstanding concert in a digital world, specifically in Fortnite. The event has been watched by over 12 million people.
Also, Gucci developed its Garden on Roblox, where clients are able to try on and buy limited-edition, luxurious, digital clothes.
These are just a few examples, but they provoke reflection that the Metaverse is not about some absurd ideas. This is the future and the future is now.
The Metaverse is a virtual place, where people could do literally everything they do in reality. What needs to be emphasised is the fact that the Metaverse will be used to a much greater extent than we may think.
To begin with, it will be yet another place where people will find employment. Adrien Book in his article created a list of potential jobs in the Metaverse:
What’s more, experts state that the Metaverse will significantly change the educational system for the better.
Just imagine medical students who will be studying human bodies without the typical, old-fashioned textbooks. Professors will be able to move their students’ avatars inside a human body via Metaverse. Imagine having anatomy classes inside a zoomed human stomach.
Just think about Geography at school… It will no longer be a 2-hour long monologue about the rocks, but thanks to Metaverse it will be possible to literally go back in time and see those fossils in a recreated world.
By using Virtual Reality, teachers will be able to explain different issues in a much more engaging and entertaining way.
Last but not least, is the example of Seoul which is going to enter Metaverse as the first major city. According to the city authorities, the citizens will be allowed to conveniently meet the administrative officials to make civil complaints and do the consultations in Metaverse by 2023. Obviously, the idea of moving administrational matters to the digital world by using VR and AR got much more attention as a result of the pandemic. To show the scale, South Korea has invested over $2.5 billion in the idea of an innovative, modern city of Seoul that is called The Seoul Vision 2030.
Although the Metaverse is an opportunity for almost every industry, as experts in the fields of Entertainment, Sports and Esports, we see it as a thrilling technology for organisations that can use it to grow fanbases, create new streams of revenue, and take their digital solutions to the next level. Let’s keep in mind that those ideas are not only for the big players. The digital transformation and being part of the Metaverse is an amazing opportunity for the smaller clubs too.
Looking at those who have already developed those solutions, we can be sure that the Metaverse will be one of the most crucial ways in which viewers consume the ESE experiences and absorb emotions.
Are you looking for more information about digital transformation in the sports industry? Visit our website to learn more about dedicated products and innovations designed for sports. To find out more about how TISA can help your organisation thrive in the digital world, contact us directly – we will be happy to talk about your case. And if you’d like to join our team and help us create the best digital solutions for the world of sports, check out our current career opportunities.
