Engagement is the new currency that sports organizations seek to amass in enviable quantities. The latest such move is undertaken by the National Basketball Association (NBA) and the National Basketball Players Association (NBPA) which have struck a partnership with Sorare, a blockchain-focused creator of fan experiences through innovative tech.
Fantasy Sports and NFT Technology to Drive Fan Engagement
Sorare is now the official NFT Fantasy Partner for the NBA and will be able to develop a free-to-play digital game based on fantasy basketball that will seek to engage audiences and boost viewership and interest in the sport. The product is preparing for launch ahead of the 2022/2023 season this year and it will let fans place digital currencies on teams and athletes.
Players will stand a chance to win by topping the game’s leaderboard and elevating their standing in the unique ecosystem. Sorare CEO and co-founder Nicolas Julia welcomed the opportunity to be teaming up with the NBA, and hailed basketball as one of the most popular sports with one of the most passionate fan bases. He added:
The NBA and the players have been at the forefront of digital experiences and collectibles and our game gives basketball fans the ultimate sports entertainment experience where they can play like a general manager, own their own game, and foster real-world connections.
Sorare CEO and co-founder Nicolas Julia
NBA commissioner Adam Silver, a known innovator who has been open to blockchain and esports, said that the partnership with Sorare is an important way to boost fan engagement. Sorare itself is a distinctly successful project that lets sports fans get in on the action, trade cards, and even buy fan tokens.
The partnership was welcomed by NBPA executive director Tamika Tremaglio who said that this opportunity will enable the NBA to connect with fans from all over the world, all thanks to Sorare’s innovative approach to gaming.
Sorare Shows Way to Engaging with Younger Audiences
Sorare has been actively seeking to establish partnerships with individual teams and topflight sports leagues, including the Serie A which the company joined in July. Blockchain-based tokens are a particularly appealing asset for leagues and teams as they seek to increase their presence in the competitive world of entertainment.
Aging sports demographics is the main threat to any sports, with sports betting partially revitalizing new audiences. Blockchain and NFT technologies are next, and so is the introduction of free-to-play games such as the one now introduced by Sorare.