Web3 is a term coined by Gavin Wood, founder of Polkadot and co-founder of Ethereum, in 2014, referring to a “decentralized online ecosystem based on blockchain.”
Web3’s decentralization, openness and transparency have a wide range of applicable scenarios in the sports field. For example, ticket sales using blockchain technology can further ensure ticket transparency and fairness; using NFT and token economy, teams and their athletes can establish closer ties with fans; and transactions in the prediction market are automatically executed and settled through smart contracts, which greatly enhances the trustworthiness of the prediction platform.
With the development of technology, people have introduced advanced technologies such as AI, VR/AR, the Internet of Things and blockchain into the sports world.
When human physiological needs and safety needs are guaranteed, social needs are the strongest and most desired needs.
Virtual social interaction can break the limitations of time and space and connect people from all over the world. Create your own 3D avatar in the metaverse and join virtual activities of your supported team, such as virtual club open days, museum tours, press conferences, New Year celebrations, sports star meet-ups, etc. You can also create your own virtual club, virtual stadium, and organize small meet-ups or even large events.
Many times, the real world is cruel, and the ending you want to see may never come true, If you don’t have the physical qualities of an athlete， just like you can’t win the world championship and become a world boxing champion. But in the metaverse, you can make up for your regrets and realize your wishes through your own efforts.
Virtual fighting creates a parallel world where boxing and fighting fans can discover outstanding talents, train virtual fighting skills, and participate in virtual world championships and leagues. Everything has a trace, and everything happens in a fair mechanism.
In sports Web3, the privacy of certain data can be maintained on the blockchain distributed ledger through the deployment of sports dApp (decentralized application). Sports pictures, music, videos, and online collectibles can be cast into sports NFT digital assets using tools such as metadata specifications and block browsers.