KEY POINTS
The allure of the metaverse has extended its reach to include icons from various industries, with the sports sector being no exception. Lisa Leslie, the retired American professional basketball player renowned for her career in the Women’s National Basketball Association (WNBA), has found herself drawn into this digital realm.
During the South by Southwest (SXSW) 2024 Conference, Leslie revealed her interest in the digital space after retiring from her basketball career. This passion ultimately drove her to invest in LootMogul, a sports-focused metaverse platform.
In a press release dating back to 2022, Leslie was announced as a brand ambassador and business partner for LootMogul. Her involvement is aimed at bolstering the platform’s mission to serve as a hub where sports figures and fans can interact.
Established in 2020, LootMogul’s goal is to provide a space where fans can take part in play-to-earn games, explore virtual sports arenas, engage with celebrity figures, and earn NFTs and cryptocurrencies. The platform also harbors ambitions to host live Web3 global leagues and fantasy sports competitions within the next year.
This venture into the metaverse adds to the growing trend of sports-related initiatives within Web3. Notably, the NBA has seen significant involvement, with both players and teams embracing the digital landscape.
For instance, in October 2023, the Charlotte Hornets collaborated with MeetKai to introduce the league’s inaugural virtual fan store in the metaverse, offering fans an immersive shopping experience.
Further back in 2022, Sorare, a blockchain-based fantasy game, partnered with the NBA to develop the first NFT-based fantasy basketball game.
Market projections indicate a promising future for virtual sports and NFT memorabilia. Precedence Research forecasts the global virtual sports market to reach approximately $77.07 billion by 2033. Meanwhile, Market Decipher anticipates the sports memorabilia market to hit $227.2 billion by 2032, with sports NFTs expected to generate a revenue of $41.6 billion at a compound annual growth rate (CAGR) of 36.6%.
