Australian Open embraces blockchain technology, incorporates NFT and metaverse

The adoption of blockchain technology by various industries in the world is on the rise, the sports industry has just taken another step in that direction. This step was taken by the organizers of one of the largest Grand Slams in the world, the Australian Open.

According to the competition organizers, the tournament will become the first Grand Slam to incorporate non-fungible tokens (NFTs). This was first revealed by a gizmodo report.

Australian Open to add NFT to tournament

An analysis of the plan indicated that there are multiple dimensions through which NFTs would be incorporated into athletic competition.

To begin with, a collection of 6,776 NFTs will be made available to the public. This collection has been called “Art Ball NFT”. Apart from this, there are also clear indications that several small plots would be linked to each Art Ball.

Further analysis indicated that the incorporation of the NFTs would be designed in a way that ensures that for every winning shot made in all 600 matches of the tournament, verified owners will get an airdrop.

This airdrop would also include a movie from the point, virtual handheld devices, Australian Open products, among other things.

It is important to note that if the winning point occurred during a championship game and falls on a pitch, the actual ball would be delivered to the NFT owner in a custom engraved case. The pitch location for each NFT will be selected when the collections are minted on January 13 for 0.067 ETH (about $ 350) per piece.

“The parcel of the court associated with NFT will be randomly assigned and disclosed when the ball is struck. This means that a buyer cannot choose a particular place on the court. “

The Australian Open will also have its own competition in the metaverse.

The historic tournament is also hosting an online competition on the renowned metaverse platform, Decentraland.

As the tournament is scheduled to begin on January 17, fans can virtually participate in a global party for AO Decentraland, which would be a three-dimensional virtual reality platform that would give tennis enthusiasts the opportunity to explore the Australian Open.

Due to the Covid-19 pandemic that has paralyzed the world, physical attendance at events like the Australian Open has been difficult. This has invariably led to the emergence of virtual venues and events around the world.

According to Craig Tiley, Australian Open tournament director, the wave of surface technology will provide tennis enthusiasts from all over the world the opportunity to participate in the Australian Open 2022 in a way that has never been seen before.

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Source: https://cryptoslate.com/australian-open-embraces-blockchain-tech-incorporates-nfts-and-metaverse/

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