- FIBA is launching an NFT collection on Polygon for the 2023 World Cup.
- The collection will offer users exclusive Perks.
- The move promises to introduce millions to the Polygon network and Web3.
The rise of blockchain technology and cryptocurrencies is revolutionizing how sports teams and leagues generate revenue and how fans interact with their favorite teams.
Amid the growing intersection between the two industries, Polygon has emerged as a favorite, playing host to official Sports Illustrated and NFL collectibles. In the latest instance, the International Basketball Federation has tipped the network for its first-ever official digital collectibles for the World Cup.
FIBA’s Polygon NFTs to Boost World Cup Experience
In a press release on Wednesday, August 23, FIBA revealed that it has launched an NFT collection for the FIBA 2023 World Cup in partnership with blockchain services firm Venly.
The NFTs minted on Polygon are the first to be offered for a FIBA flagship event and are available for purchase on the FIBA Basketball World Cup Shopify. The collection is separated into four tiers. Listed by increasing rarity, these tiers include Fan’s Frenzy, National Pride, Ultimate Courtside, and Golden Glory.
Sponsored
As highlighted by Polygon, each tier would offer holders exclusive benefits. These benefits include match tickets, discounts on merchandise, signed jerseys, and a chance to win a luxury watch.
Venly CEO Tim Dierckxsens contended that the FIBA World Cup collection would make blockchain more accessible and revolutionize fan engagement.
Sponsored
"This collaboration represents an exciting convergence of sports and cutting-edge technology, aligning seamlessly with our mission to empower brands and platforms through blockchain. By creating a unique space for fans to celebrate their shared passion for basketball, we're not only making blockchain accessible but also changing how fans engage with the sport," the Venly chief asserted.
Set to be hosted in multiple countries for the first time, the FIBA World Cup will kick off in the Philippines, Japan, and Indonesia on Friday, August 25.
On the Flipside
- Despite the launch on Polygon, FIBA does not accept crypto payments for its World Cup NFT collection.
Why This Matters
The FIBA World Cup is one of the most popular sporting events in the world. The 2019 World Cup attracted 3 billion TV viewers, with an onsite attendance of nearly 800,000. Launching an NFT collection on Polygon for the event could introduce millions of users to Web3 and the Polygon network.
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