Crystal Palace is the latest football club to enter the Metaverse and NFT.
London-based Premier League squad Crystal Palace is establishing its presence in the metaverse and non-fungible tokens (NFTs). The club has reserved its name for use in these areas.
Crystal Palace, like other previous participants, are interested in enabling the NFT and Metaverse football teams to connect with their supporters.
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The public announcement was made on July 1 via a social post by Michael Kondodis, a patent attorney who specializes in the Metaverse trademark.
According to Kondodis, Crystal Palace FC filed a trademark registration on June 27 to establish the club’s name on a variety of digital items, which will all be certified by non-fungible tokens (NFTs).
Trademark applications cover a wide range of virtual memorabilia including NFTs, cryptocurrencies, digital collectibles, virtual shoes, clothing, sports gear, crypto marketplaces and exchanges and many more to come.
#Premier League Football club Crystal Palace has filed a trademark for its crest, which includes:
️ NFTs, cryptocurrencies, digital collectibles
️ Virtual shoes, clothes, sports gear
️ NFT+ Crypto Marketplace & Exchange
… even more#nft #metaverse #web3 #CPFC #pl pic.twitter.com/wukOw24qup— Mike Kondodis (@KondoudisLaw) 1 July 2022
Crystal Palace is not the only football club to see and seize the revenue potential in the Metaverse and NFT. Earlier, Ligue 1 champions Paris Saint-Germain, also known as PSG, took their first steps into the space.
In March, the French football club submitted an NFT-related trademark application. Another soccer giant, FC Barcelona, is taking several steps to conquer the Metaverse and NFT markets.
NFTs Are Stable, Adoption Grows
A large number of industries have had difficulty developing deep and long-term relationships with their target audiences.
On the other hand, the sports industry has the potential to achieve the highest success in terms of user engagement within the metaverse due to its dedicated fan base as well as its renowned teams and events.
Initiatives in the Metaverse undertaken by some of the world’s most prestigious sports organizations, including some of the most prestigious teams, have demonstrated substantial potential for the Metaverse service platforms to expand their scope of operations.
The football club is probably the next profitable destination for the NFT and the Metaverse, especially with the world’s most prestigious soccer league coming up in November this year.
If the NFT and Metaverse can gain traction during the World Cup season, it will undeniably provide football teams with a number of benefits, including the opportunity to pursue new revenue opportunities.
Interest in the sector is increasing. Binance, the world’s largest cryptocurrency exchange by trading volume, announced an NFT deal with football star Cristiano Ronaldo in late June.
A range of NFT collectibles by the Portuguese soccer player will be released on the Binance NFT platform. Binance users in some countries will be able to purchase NFTs through the Binance Pay app.
currency chain is popular
Binance has already secured several partnerships in the sports business, including sponsorship of the Argentine football team, which includes superstar Lionel Messi, the Brazilian Football Federation, two Italian football clubs, and FC Porto.
A new direction for the cryptocurrency platform is the development in collaboration with soccer stars. Lionel Messi, CR7’s industry peer, became the global brand ambassador for crypto platform Socios in March.
Despite corporations spending millions of dollars on marketing to attract new investors, the cryptocurrency market continues to decline.
The market crash has had a significant impact on the revenues of major cryptocurrency exchanges such as Coinbase, Gemini and Crypto.com, except Binance.
The company claims that it is still in good running and is looking to recruit more employees and make more lucrative deals.
Prior to the deal with Ronaldo, Binance said it refused an associate deal with the Super Bowl. Looks like basketball isn’t CZ’s favorite sport.
In addition to football, NFTs and Metaverse are exceptionally grown in other industries ranging from basketball, ecommerce, sales, production to entertainment. Companies, corporations and celebrities have been increasing their presence in the metaverse for quite some time.
According to Feinbold, the number of NFT trademark applications in the United States increased by 421 times in 2021, compared to just three times in 2020.
