DAZN hints at NFT experiences on its sports media channels
DAZN is trying to improve its interactive experiences
One of the largest sports media companies in the world, DAZN Group, said it is exploring the possibility to launch non-fungible token (NFT) experiences.
The project would be part of a set of new activities the group said it is hinting at, to increase the range of interactive experiences available for its customers.
“Looking into 2022, fans can expect an even deeper, more interactive experience with DAZN as the company moves forward with recreational betting, gaming, e-commerce, NFTs and tech advances in the viewing experience,” said the group in a press release.
How CEO choice could affect NFTs
The company said former Entain CEO Shay Segev will be sole CEO of DAZN Group.
Entain, with a market capitalisation of around $10bn, operates online betting, having acquired large operators in the sector such as bwin.party and Ladbrokes Coral, with the company including other brands like bwin, Sportingbet, Eurobet, partypoker, partycasino, Gala and Foxy Bingo. Entain trades on the FTSE 100 index under the ticker symbol ENT.
“Shay, who joined DAZN in June 2021, has an exceptional track record in scaling digital consumer businesses, which will be indispensable as DAZN expands its customer offering to include interactive and engaging content for fans to enjoy alongside its sports streaming service,” said the company.
The choice of Shay as CEO seems to limit the possibility of a large implementation of NFTs, suggesting the company could focus instead on fan tokens rather than sports NFTs collectables.
The fan token market
The fan token market witnessed a trading volume of only $669.3m since the beginning of 2022, according to CryptoSlam data.
The first two months of the year, historically, record low sales volumes on the secondary market, with holders approaching the tax period and the possibility of facing high taxes on this kind of asset.
The actual overall market cap stands at $3.4bn compared to $6.7bn to December 2021 with a peak recorded in September at $11.3bn.