What is the Indian Sports League?
The Indian Sports League is a professional league for Football, Hockey, and Tennis.
The Indian Super League (ISL) will be the first Indian sports league to use its own digital collectibles (NFTs) and become the world leader in blockchain-powered sports. League co-owned by 65% by Reliance Industries and 35% by Star India has teamed up with Terra Virtua, a London-based entertainment-focused collectibles platform. The club will be releasing 11 digital collectibles featuring the league and every member of it. “We have signed a two-year licensing partnership with ISL to launch digital collectibles around ISL, We are not trying to replicate the trading card culture. What we are trying to do is innovate and create a new collecting culture using our platform.” – said Gary Bracey, CEO at Terra Virtua
He added that while sports companies in this space have built up their popularity just based on clips of the games, ISL and Terra Virtua want to go further and engage directly with the fans. The collectibles should be more than just an “accessory.” “It’s easy to see how tokenized items are changing the game.
Our conversation with the ISL team made it clear that we both share a vision for putting fans first while also having respect for commercial needs. We got to talking about it more and realized we share the same values. So, we started collaborating on this project and have been discussing what we want from the outset.” he said. The ISL digital collectibles will be launched ahead of the 2021-22 season.
The accompanying launch will feature in-depth, engaging content that showcases the diverse range of collectibles on offer for fans to get their hands on. We hope we can share some of the most memorable moments from the ISL with you by making card packs and other items available in our marketplace. The digital collectibles will also allow ISL and its clubs to connect with millennials.
Terra Virtua is a social, digital collectibles platform and marketplace using blockchain technology. It is the world’s first fully immersive live birthplace for those living in mixed reality experiences. It currently offers themed digital collectibles across a range of popular movies, television shows, and comic books.
This partnership with the International Sports League is Terra Virtua’s first foray into the dynamic sports ecosystem and we’re really excited to work with them. Terra Virtua has made a recent move from Ethereum to Polygon in an effort to become more sustainable. By changing how they mint their tokens, the company has saved a ton of money on energy costs. Similarly, in the world of sports, everyone is trying to create their own NFT token.
In basketball alone, there were over 250 examples. But we have been working hard on this for four years, and we spent three years building the platform. We’ve also been trading for over one year now (and our user base continues to grow).
“We haven’t been around for a long time yet, but what we have been doing has been pretty innovative,” said Bracey. Terra Virtua also provides a virtual room where family members can enter and interact with each other. They also allow friends to see what you’re doing live via VR. Sharing is caring!
“Don’t risk your customer with a store full of products you can’t even show off”, he LOLed. Virtually every industry across the world is using NFTs, a blockchain-enabled technology that tracks unique ownership of digital content such as photos, videos & audio. In addition to making it easier for fans to buy sports collectibles, these innovative digital items are driving retail sales globally.
Last month, India launched its first cricket-based digital collectibles platform called Rario.
Disclaimer: The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.