invezz.com
Sony Sports, through its subsidiary Hawk-Eye Innovations, has struck a major deal with blockchain-focused firm NFT Technologies Inc. to bring live sports data to the fast-growing sports NFT market.
In a press announcement today, Wednesday 3 August, NFT Tech said the partnership builds on its pioneering effort at the Australian Open, where the platform’s historic AO Artball helped catapult the world of NFTs to mainstream sports.
For Sony, the leading tech company in Japan, the collaboration continues its recent exploration across the blockchain space and will see the deployment of its groundbreaking Hawk-Eye Innovations technology to the benefit of fans.
NFTs and the growing fantasy sports ecosystem
Growth across fantasy sports has seen annual figures of over 60 million players, and is estimated to expand even further with the help of new technological advancements. NFTs, which add decentralised ownership and other aspects of digital assets is one of the new mechanisms.
And as fans find new ways to engage and reap rewards from their favourite sports and entertainment, fantasy sports providers are also seeing new revenue streams.
Hawk-Eye, whose technology is used in over 20 different sports, and NFT Tech’s Web3-focused developments could offer the foundation that sees even more people get into the Sports NFTs ecosystem.
Adam De Cata, CEO if NFT Tech commented:
Sport Leagues worldwide are constantly looking for ways to increase viewership and connect deeper with fans. Fantasy sports is extremely popular and acts as a huge viewership increase, encouraging the middle segment of fans to stay engaged during the regular season. We’re excited to be joined by Sony as we pioneer unique blockchain use cases for the sporting and entertainment industry.”