It becomes the first Indian sports league to venture into the NFT market
The Hero Indian Super League (ISL) has announced a partnership with London-based Terra Virtua Limited to launch its exclusive non-fungible tokens (NFTs) as digital collectibles ahead of the 2021-22 season.
The agreement sees the ISL become the country’s first sports property to launch a digital collectibles series, leading the Indian sports industry in the fast-growing NFT market.
Terra Virtua is an entertainment-focused collectibles platform and the partnership with the ISL is its first foray into the sports ecosystem.
Under the licensed partnership, Terra Virtua will create unique digital collectibles featuring the Indian Super League and all its 11 clubs. Since the ISL’s launch in 2014, the league’s memorable moments, player cards, in-match highlights and more will be made available for fans to purchase and trade as interactive memorabilia.
“Digital collectibles have been one of the most talked-about fan engagement avenues in 2021, and ISL being a young league would like to keep pace with the demands of India’s millennial and Gen-Z audience segments,” said Hoshedar Gundevia, ISL’s head of digital.
“Digital collectibles offer innovative opportunities for the league and its clubs to connect with the growing Indian football market and attract newer audiences.”
“This is a big day for the future of Indian and international sport,” said Terra Virtua CEO and cofounder Gary Bracey. The partnership signals a fundamental shift in the way sports fans will be able to engage with their favourite sports teams going forward, allowing them to collect and trade interactive player merchandise and dynamic digital memorabilia with fellow fans.”
Terra Virtua recently switched its platform from the Ethereum blockchain to Indian platform Polygon in a drive to be more sustainable. By making the change, it has reduced its energy usage in minting NFTs by over 99 per cent.
Last month, Polygon had also announced that it would launch a new platform for cricket fans to collect and trade memorabilia of iconic moments from cricket history.
Information on the ISL collectibles available will be announced ahead of the 2021 ISL season, which starts on November 19.
Published By : The Week