The Vegas Golden Knights, a National Hockey League (NHL) team, have announced their entry into the world of non-fungible tokens (NFTs) through a partnership with Theta Labs, a Web3 and AI company. The collaboration, revealed on January 16 via a press release, will involve the release of a series of NFT drops.
Fans can acquire these NFTs both online and in person, such as during select home games. NFT holders will unlock tangible rewards, including tickets for Knights games, autographed merchandise, VIP experiences like photo opportunities on the ice, and access to press conferences.
The first NFT series will offer a unique reward — access for 75 guests to a private viewing lounge spanning 18,000 square feet, providing a vantage point over the arena and floor-to-ceiling windows showcasing the Vegas strip.
Kerry Bubolz, President and CEO of the Vegas Golden Knights, emphasized the team’s commitment to innovative fan engagement through the partnership with Theta Labs. He stated, “This partnership with Theta Labs allows us to offer unparalleled experiences and many more possibilities in the future.”
While the Vegas Golden Knights’ NFT venture is the team’s first foray into the NFT space, the NHL, as a league, has previously embraced Web3. In May 2023, the league debuted the “NHL Blast” experience on the Roblox metaverse platform, and in November 2023, it launched its official NFT platform “NHL Breakaway” after a successful beta period.
The sports industry has embraced the opportunities presented by Web3 since the beginning.
Notably, NBA and soccer stars and teams have delved into the space, offering fans new and immersive experiences. Sorare, for example, introduced a sports fantasy game in the Web3 realm, covering soccer, basketball, and baseball.
While these advancements enhance fan engagement and create new revenue streams, governments are concurrently taking measures to regulate NFTs and crypto-based initiatives and games. Recently, the French National Assembly passed the Sorare law, establishing a regulatory framework to prevent the classification of such activities as gambling.