The Football Metaverse Will Significantly Change Business Models in Sports | New: Head of Metaverse / Chief Metaverse Officer
Published on: November 2nd, 2023 / Update from: November 2nd, 2023 - Author: Konrad Wolfenstein
The Metaverse will significantly change the business models of professional football clubs – Image: Xpert.Digital
🌐 The Metaverse and its revolution in the professional football business
The rapid development of technology in recent years has brought a new phenomenon to the fore: the Metaverse. It is a virtual reality where people can interact as avatars, similar to video games but much more complex and immersive. This development is expected to have a massive impact on many industries, including professional sports, particularly football.
⚽ Proximity to fans and new sources of income through the metaverse
The Metaverse offers an unparalleled opportunity for fans to get closer to their favorite teams and players. Imagine being able to sit as an avatar in a virtual stadium and watch the game in real time alongside other fans from around the world. Or take part in a virtual meet-and-greet with your favorite player. The possibilities are endless and offer clubs a whole new source of income.
📊 Blockchain in professional football: A study by WHU
The WHU – Otto Beisheim School of Management recently conducted a study in which 103 industry experts shared their insights on how they expect these technologies to impact professional football by 2030. A key theme highlighted in this study is the integration of blockchain technology into professional football.
💳 Blockchain, NFTs and the new fan experience
With the blockchain, clubs can, for example, create and sell digital trading cards or “NFTs” (non-fungible tokens) of their players. These NFTs can then be purchased and traded by fans, creating a new form of merchandising and fan engagement. In addition, blockchain also allows tickets to be sold securely and transparently, reducing ticket fraud and making ticket resale more efficient.
🤖 Artificial intelligence in professional football
Artificial intelligence (AI) will also play a key role in the evolution of professional football. With advanced data analytics, coaches and managers can better understand and optimize their players' performance. AI can also be used to personalize the fan experience, for example by providing personalized game summaries or merchandise purchase recommendations.
🕶 VR and AR: The next level of fan experience
Immersive technologies, such as virtual reality (VR) and augmented reality (AR), will continue to revolutionize the fan experience. VR can offer fans the opportunity to experience games from the perspective of their favorite players, while AR could allow statistical data and information to be displayed in real time during a game.
💰 Financial implications and business strategies
The financial impact of these technologies on professional football is enormous. Revenue from digital products and services is expected to grow exponentially over the next decade, allowing clubs to explore new revenue streams. This could lead to a paradigm shift in the way clubs operate and align their business strategies.
🎯 Sponsorship and advertising in the digital age
Ultimately, the Metaverse will also change the way sponsorship and advertising works in professional football. Brands could buy virtual advertising space in stadiums or even sponsor entire virtual events. The interaction between fans and brands could also become much more direct and personalized, allowing brands to build a closer bond with their target audience.
🔮 Future outlook: The potential of the Metaverse
The Metaverse and the associated technologies have the potential to radically change professional football in the next few years. Clubs that adopt and integrate these technologies early will likely have an advantage over their competitors. It remains exciting to see how these developments will manifest themselves in practice.
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- ⚽ Virtual stadiums: next step in the football experience
- 🎟️ Blockchain in football: tickets, NFTs and more
- 🤖 AI-driven fan experiences in professional football
- 🕶️ VR and AR: revolutionizing the fan experience
- 💰 Digital sources of income and the change in professional football
- 🏟️ Virtual advertising spaces and the new sponsorship in football
- 🎮 From Video Game to Metaverse: The Evolution of the Football Experience
- 🔄 Paradigm shift: How technology is transforming football
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#️⃣ Hashtags: #MetaverseFootball #BlockchainImSport #AIimFootball #VirtualReality #DigitalWandelImSport
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🌐👓 The revolution of the metaverse in professional football
In the era of digitalization and technology development, the concept of the metaverse, a virtual world where people can interact, work and entertain themselves, has increasingly come to the fore. This revolutionary idea not only changes the way people communicate with each other, but also has the potential to revolutionize industries such as professional football.
📚 Research results from WHU
The latest research results from WHU, under the supervision of Prof. Dr. Sascha L. Schmidt, suggest that the Metaverse will play a crucial role in the strategy of professional football clubs in the coming years. The possibilities offered by the Metaverse are diverse and could drastically change the traditional business model of football clubs.
🕶️ Immersive fan experiences
One such opportunity is incorporating immersive technologies into the fan experience. Imagine if fans could use VR glasses to experience a game live from the perspective of a player on the field or even attend training and behind-the-scenes sessions virtually. This could not only strengthen the bond between fans and the club, but also open up new revenue streams as such experiences could be monetized.
💰 Tokens and blockchain in football
Furthermore, clubs could use blockchain technology to create exclusive fan tokens or even player tokens. These tokens could provide various rights or benefits, such as access to exclusive events, discounts on merchandise, or even the ability to have a say in certain club decisions. Not only would this create a closer relationship between fans and the club, but it would also open up new monetization opportunities.
🤖 AI in Metaverse Marketing
Additionally, AI-powered advertising offers in the metaverse could enable a tailored and targeted marketing strategy. Instead of running traditional advertising, clubs could advertise their products or services directly to the right audience in the metaverse, significantly increasing the efficiency and ROI of marketing campaigns.
👤 Head of Metaverse
Given all of these possibilities, it might make sense for clubs to create a new position, “Head of Metaverse,” in the near future. This person would be responsible for developing and implementing the club's Metaverse strategy and would ensure the club remains at the forefront of this new digital revolution.
⚠️ Challenges and data protection
But as with any new technology, there are challenges. Privacy concerns, technological barriers and the need not to alienate traditional fans are just some of the issues facing clubs. Nevertheless, the potential of the metaverse for professional football is enormous and could lead to a complete reshaping of the industry in the coming years.
⚽🌌 Future of professional football in the Metaverse
In conclusion, the WHU study shows that the Metaverse and the underlying technology have the potential to change the face of professional football. The clubs that adopt these technologies early and integrate them into their business models could gain a decisive advantage over their competitors and usher in a new era of football.
📊 Probability of occurrence – 76%
Immersive football experiences: Immersive hardware such as augmented reality headsets or virtual reality (VR) equipment will be increasingly integrated into the entertainment offerings of football clubs in the future. In the future, fans will be able to use VR glasses, for example. For example, you can also experience football games live in the virtual stadium without having to leave your home.
🤖🎯 AI Advertising in the Metaverse – 75%
AI-supported advertising offers in the Metaverse: Experts also assume with high probability that professional football clubs will be able to significantly reduce their marketing costs by 2030 because they will increasingly rely on tailored, AI-supported advertising offers in the Metaverse.
🌐 Web3 interactions – 72%
Web3 applications: The interaction between the club and fans should also improve significantly through the use of Web3 applications. It is conceivable, for example, that football fans will increasingly buy virtual fan tokens in the future. Through these, they could subsequently be granted exclusive access rights, preferential treatment when purchasing (VIP) tickets or even significant participation rights, and thus have a significant influence on their club's decisions.
👤🌌 Metaverse Leader Position – 68%
Head of Metaverse: Finally, experts believe it is possible that professional football clubs will create the position of “Head of Metaverse” in the near future.
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💰🎮 Sales with virtual products and services
Virtual sales: It is also possible that football clubs will generate more than five percent of their sales through virtual goods and services.
📣 Similar topics
- 🌐 The Metaverse is revolutionizing professional football
- ⚽ Virtual Experiences: How Football Enters the Metaverse
- 🕶️ The fan experience redefined: football games through VR glasses
- 💰 Blockchain and Fan Tokens: The Future of Football Monetization
- 🎯 AI-powered marketing strategies for football clubs in the metaverse
- 🚀 The role of the “Head of Metaverse” in football clubs
- 🔒 Privacy and technological challenges in the football metaverse
- 🎮 Virtual stadiums: Watch without leaving your home
- 🕸️ Web3 applications increase fan club interaction
- 🛍️ Increasing sales through virtual products in professional football
#️⃣ Hashtags: #MetaverseFootball #VRImFootball #FanTokens #HeadOfMetaverse #KIimSportMarketing
🗒️ New territory for newbies: What you should know now about blockchain, tokens, NFTs, wallets, cryptocurrency and the metaverse
(Consumer) Metaverse New territory for newbies – What you should know now – Image: Xpert.Digital
In today's digital world, terms such as blockchain, NFTs, wallets, cryptocurrencies and the metaverse have become increasingly present. For newcomers, these terms may seem confusing and complex at first. Here we try to explain these terms in an understandable way and give you important and interesting details about them.
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📊 Information about the study
The study “AI, Blockchain, and Immersive Technologies – Metaversal Business Models Of Professional Football Clubs in 2030” was conducted by Prof. Dr. Sascha L. Schmidt (WHU), Prof. Dr. Heiko A. von der Gracht (Steinbeis School of International Business and Entrepreneurship; SIBE),
Dr. Daniel Beiderbeck (WHU) and Gerrit Heidemann (WHU). As part of the Delphi study, the authors asked 103 selected industry experts from 11 countries for their assessment of the likelihood, desirability and possible influence of 12 pre-formulated future projections. The aim of the study was to explore the influence of the Metaverse and its underlying technologies on the business models of professional football clubs in 2030.
📚 Detailed results of the Delphi study can be found in:
Schmidt, SL/von der Gracht, HA/Beiderbeck, D./Heidemann, G. (2023): AI, Blockchain, and immersive technologies – Metaversal business models of professional football clubs in 2030. Center for Sports and Management (CSM), Düsseldorf/Vallendar.
🏟️ About the Center for Sports and Management (CSM)
As an academic partner for leaders in the sports business, the WHU Center for Sports and Management aims to positively influence the future of sport by inspiring, supporting and connecting people. Research and teaching activities focus on the future viability and diversification strategies of companies, the influence of technologies on sport and the stadium economy. In addition, CSM researchers investigate trends and future scenarios in different technological and social contexts. Strong partnerships, including with leading sports clubs, leagues and associations, are the basis of the activities.
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