Can the Metaverse Help Live Sports More?

Can the Metaverse Help Live Sports More?

Metaverse News
April 20, 2022 by Diana Ambolis
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The rules of sporting games haven’t changed much over time, but how we consume and interact with them has. Then there was television. Following then, there was live broadcasting. Soon later, instant replay and streaming became available. Live sports are about to undergo yet another major transformation in the Metaverse. Every industry is beginning to
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The rules of sporting games haven’t changed much over time, but how we consume and interact with them has. Then there was television. Following then, there was live broadcasting. Soon later, instant replay and streaming became available. Live sports are about to undergo yet another major transformation in the Metaverse.

Every industry is beginning to investigate the economic and cultural consequences of the Metaverse, from footwear to real estate. We can see that the sports industry is the same, based on the amount of Super Bowl advertising and stadium name changes. Despite considerable funding and endorsements, live sports continue to face a slew of problems. A comprehensive dive into the Metaverse could be beneficial to sports.

On the outskirts of the Metaverse

Fans are keen to return to stadiums now that the virus has slowed down. Leagues are reverting to pre-covid schedules as well. While it appears that the sports business is recovering, it is difficult to predict how long this trend will continue, particularly among younger generations.

Despite the fact that 52% of Gen Z consider themselves sports aficionados, 79% admit to not watching live games. While their parents could comfortably sit through a three-hour commercialized football game, the younger generation is less willing. If the live events sector does not meet younger fans on their own turf, this emerging trend could spell disaster. Whether you blame video games or real-time game highlights shared on social media, the separation will only worsen as people’s attention spans shorten, and their interest wanes.

Integrating new technologies is nothing new in the sports sector. FIFA and the NBA have been developing Metaverses for decades with their AAA game titles. However, there is a distinction between licensing arrangements for prominent video game properties and building a long-lasting, participatory Metaverse experience that draws fans and enthusiasts together. It will be difficult for the sports sector to enter the Metaverse, but there is still time. The most efficient strategy to bridge the generational divide in viewership and attendance is to take these preventative measures.

Getting the attention and engagement of the fans

Every sports fan will tell you that there are limited possibilities for direct engagement between teams and fans, especially during live games. Although there are external betting and fantasy leagues, both casual and die-hard fans are unable to participate meaningfully with their favorite clubs and players. Live sports can take advantage of the Metaverse’s interactive nature to increase spectator involvement.

Across leagues and organizations, fan loyalty is one of the most influential foundations in the sports industry. So much so that when their favorite clubs have joined with Web3 ventures like fan tokens to exploit their passion, fans have openly rebelled. This is a significant red signal, and the industry needs to step carefully to make sure Metaverse development isn’t just a cash grab. Maintaining fan loyalty while expanding Metaverse’s audience will take more effort than simple integrations or merchandising opportunities.

Younger sports viewers are drawn to high-impact “moments,” such as spectacular wins and surprising results. Users will be able to engage with thrilling moments and highlights in previously unavailable ways, thanks to the Metaverse. Games that are too long and too marketed just do not hold their attention.

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While a fully immersive, full-fledged Metaverse is still in the works, creating the groundwork for a smooth transition is essential. More importantly, the game-day fervor will carry over between games and into the off-season.

Leaders in the sports sector may see the Metaverse as an easy monetization goldmine for die-hard fans with a lot of cash. The more sustainable way, though, is to shift focus to permit Metaverse integrations in order to reclaim the interest of younger followers. Prioritizing well-thought-out projects ensures a future audience and establishes an original and interactive pillar for live sports broadcasting. The sports business can become a Metaverse power player by transitioning from tawdry NFT souvenirs to more meaningful enterprises that promote continual fan participation.