English Premier League club Manchester City has already announced their future plans for the metaverse. Now it appears the Premier League itself will kick off in the metaverse as well.
A growing number of sports organizations are expressing interest in non-fungible tokens (NFTs) and the metaverse, as a way to expand their channels of communication and engage with their fans.
The Premier League is the top level of professional English football, and now becomes the most recent sports entity to enter the metaverse, after filing two patent applications with the United States Patent and Trademark Office.
Lion, Crown and Trophy Trademark Applications
There are 20 clubs that compete in the Premier League, and it’s one of the most-watched sports leagues in the world. On June 1, trademark applications for a “lion wearing a crown in three-quarter view” and a “love cup trophy” with lions on each handle and a crown on top were filed with the USPTO.
The English Premier League is the top level of professional English football. (Shutterstock).
Scope of the NFTs
Michael Kondoudis, a registered trademark attorney, announced via Twitter on June 6 the arrival of the English Premier League into the metaverse.
The vast scope of the trademark applications includes the creation and selling of digital assets, virtual clothes, cryptocurrencies, and media files validated by NFTs.
An NFT is a digital asset that represents the ownership of media, typically digital artwork, profile images or music. They are issued on public blockchains such as Ethereum or Solana and each token is unique.
The Premier League and the English Football League share a promotion and relegation system. Typically, seasons run from August to May with each club playing 38 matches. The majority of games are played on weekends.
Premier League Brand and the Metaverse
The market for NFTs has grown in recent years as more enterprises enter the arena. NBA Top Shot, one of the most anticipated sports NFT projects, was launched in 2020. According to CryptoSlam, the collection sold for over $1 billion. This NFT Top Shot guide explains the project and collecting packs in detail.
Crypto total market cap at $1.19 trillion on the daily chart | Source: TradingView.com
In a press statement, Kondoudis said:
“The English Premier League is usually viewed by over 1 billion people, thus the brand’s value is enormous. These filings are a reasonable move towards protecting the brand in today’s economy, which incorporates virtual and crypto aspects, as well as tomorrow’s virtual economy in the metaverse.”
As the concept continues to evolve, Kondoudis noted that the shift represents an awareness by sports companies that they require protection in the metaverse.
While demand for cryptocurrencies and NFTs has moderated as a result of the recent drop in the crypto market as a whole, NFT sales remain on track to surpass the $20 billion in volume recorded in 2021.
Suggested Reading | Solana Blockchain Tops $2 Billion All-Time NFT Sales Despite Market Slump
Manchester City is Building Etihad Stadium in the Metaverse
The current Premier League champions Manchester City have already begun to penetrate the metaverse. Utilizing virtual reality (VR) professionals from Sony Hawk-Eye, the club’s Etihad Stadium will become the world’s first football stadium built in the metaverse.
Meanwhile, French Ligue 1 football champions Paris Saint-Germain submitted trademark applications on March 16 for NFT-backed multimedia, such as crypto wallets, managing cryptocurrency transactions, virtual clothes and electronics.
Featured image from Pixabay, chart from TradingView.com
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