Web3 will bring new importance to traditional sporting events such as football, specifically the World Cup 2022. Crypto exchanges like OKX and Binance attempt to bridge the gap between sports and the virtual world.

The FIFA World Cup 2022 is rapidly approaching. The greatest teams, icons, and top players are all vying for the same prize: the golden trophy.

Qatar, the World Cup 2022 host country, has spent nearly $220 billion to host approximately 1.5 million visitors worldwide.

However, the presence of two legends makes this event truly unique. Cristiano Ronaldo and Lionel Messi, two of the game's most famous players, will participate. This will most likely be their final World Cup attempt before retiring.

Aside from that, the blockchain and web3 elements have given this event a distinct flavor. Consider interactive games, fan communities, collectibles, and other features.

Bridging the Gap with Web3, Nfts, and Football

Web3 is becoming increasingly popular. Thousands of jobs are posted by companies looking to hire the talent needed to build, innovate, and grow web3 projects every month.

The web3 and NFT space has recently attracted increasing attention from mainstream brands. This is primarily due to the fact that NFTs have become a popular way for brands to communicate with their customers and showcase their products.

According to Bloomberg, cryptocurrency companies have invested more than $2.4 billion in sports marketing over the last 18 months. As the 2022 FIFA World Cup approaches, NFTs and web3 will undoubtedly look to capitalize on this momentum.

Okx Will Host the Web3 Version of the 2022 World Cup

In anticipation of the upcoming footballing event, OKX, the second-largest cryptocurrency exchange by trading volume, initiated its OKX Football Festival on November 8. The prize pool for the event is over $3 million in tokens, special edition NFTs, and exclusive interactions.

The NFT Football Cup, the 2022 OKX Football Cup Trading Competition, and the Earn Super Hattrick fan token staking series are all part of the OKX Football Festival.

Beginning with the NFT Football Cup on November 8, fans can collect up to three free NFTs representing their favorite teams. Despite the fact that they must stake 10 USDT per NFT, the funds will be returned in full at the end of the tournament.

NFT holders will receive 20,000 USDT in rewards each time their team advances through the group stage. Similarly, the prize pool for each excluded team is relocated to the team that eliminated them.

Celebrate Your Interests

Fans can also compete in the 2022 OKX Football Cup Trading competition to hone their trading skills. OKX also provided stake deals in the Earn Super Hatrick event for fan tokens of Manchester City ($CITY), Portugal ($POR), Argentina ($ARG), and Flamengo ($MENGO).

Other Titans Join the Celebration

Binance, the world's largest cryptocurrency exchange, has taken precautions ahead of the highly anticipated event. According to BeInCrypto, it has debuted perpetual agreements for its token fan index.

The new cryptocurrency price index will be based on the market achievement of football club fan tokens listed on Binance's USDT spot market.

Visa is also the payment gateway. In collaboration with Crypto.com, the major payment players released five soccer-themed NFTs. The digital payments firm will auction off five NFTs featuring World Cup goals from Jared Borgetti of Mexico, Tim Cahill of Australia, Carli Lloyd of the United States, Michael Owen of England, and Maxi Rodrguez of Spain (Argentina).

Meanwhile, Argentine Football has been added to the popular fan-token platform Socios to help drive Web 3 fan engagement. Renowned clubs such as Real Madrid and Barcelona applied for and were granted trademarks covering cryptocurrency and their web3 metaverse services.

What impact do you think virtual worlds will have on the future of professional sports? Let us know your thoughts by sharing this article online.

Nov 10, 2022
Digital Lifestyle

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