Table Tennis Goes Crypto With Plans for NFT, Web3 Crossovers
World Table Tennis (WTT), the events arm of the sport's governing body, has announced a partnership with non-fungible token (NFT) startup NFT Tech to explore Web3 initiatives and expand the game of table tennis. The multiyear collaboration aims to introduce digital collectibles, metaverse experiences, play-to-earn and move-to-earn gaming in the world of table tennis.
The partnership reflects the growing trend of sports organizations embracing Web3 technologies to engage new audiences, particularly the younger, tech-savvy demographics. By leveraging NFT technology, WTT and NFT Tech plan to offer various real-world utilities and access possibilities, such as tickets to tournaments, training facilities, online broadcasts, and VIP events.
NFT Tech CEO Adam De Cata, who has prior experience with tennis-themed NFT crossovers, highlighted the potential appeal to first-time wallet holders and the exploration of in-real-life (IRL) utility through NFTs.
Table tennis is recognized as the third-fastest-growing sport among middle-aged demographics and the eighth-most popular sport globally. Its Olympic viewership has reached all-time highs. Additionally, table tennis has seen increased financialization, with table tennis-related sports betting gaining popularity in the United States.
The partnership between WTT and NFT Tech signifies the continued integration of cryptocurrencies, NFTs, and Web3 technologies in the sports industry.
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