Tennis and the Australian Open Go NFT

Tennis and the Australian Open Go NFT

Major televised sporting events continue to draw huge crypto market interest. This interest stems from the sheer size of tv audiences that tune into live televised sporting events. As exchanges look to market their platforms at sporting events, sporting events are also embracing the crypto space.

While Bitcoin (BTC) and other major cryptos, such as Ethereum (ETH) continue to draw investor interest, interest in Non-Fungible Tokens, more commonly referred to as NFTs, has also been on the rise.

NFTs are both individual and unique. The key characteristic, therefore, is that they cannot be copied or duplicated. This very attribute has made NFTs particularly popular within the world of sport.

NFTs and Sport

Late last year, the English Premier League converged with the NFT space. News hit the wires of the Premier League considering a partnership with a digital collectibles platform. A partnership could be particularly lucrative when considering the global following of teams such as Liverpool and Manchester United.

In the U.S, sporting franchises and NFTs have also partnered. In September 2021, the NFL, the NFL Players Association, and Dapper Labs announced a partnership “to create exclusive digital video highlight NFTs for NFL fans”. For the NBA, the link with NFTs has been a successful and a lucrative one. NBA Top Shot is an NFT marketplace, where fans can buy and sell, and trade NBA moments. The NBA Top Shot marketplace, in partnership between the NBA, WNBA, and Dapper, launched in October 2021.

When considering the level of interest in both the NBA and the NFL NFTs, it’s not surprising that other franchises are exploring the NFT space.

Tennis and the Australian Open Embark on an NFT Partnership

Overnight, news hit the wires of the Australian Open planning become the first tennis grand slam tournament to enter the metaverse. The Australian Open is the first of 4 grand slam tennis tournaments that take place each year. First held in 1905, the tournament is reportedly the highest attended. In 2020, total attendance hit an ATH 812,174.

As part of the initiative, the Australian open reportedly plans to release 6,776 Art Balls NFTs via its newly launched platform The AO Art Ball. The Australian tennis tournament will also “steam a virtual tennis tournament in Decentraland”. The NFTs will be minted on Ethereum (ETH).

The sale begins on 10th January ahead of the 17th January start to the tournament.

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