Sports culture is becoming a new driving force for the development of the crypto industry

The Qatar World Cup is about to open on November 20, 2022. As a four-year football carnival, it has also whetted the appetite of football fans around the world. Of course, since the last century, sports culture has become a powerful carrier of business. Every major sports event will usher in the explosion of surrounding industries. On the eve of the World Cup in Qatar, business Giants are also accelerating their efforts to maximize business returns.

From the perspective of cryptocurrency, sports culture is becoming a new driving force for industry development.

Since 2018, the cryptocurrency sector has become a new peripheral business for football events. During the Russia World Cup, World Cup concept coins represented by SOC and WICC attracted great attention from the industry due to their astonishing growth.

As the crypto industry’s commercial ties with the traditional world become closer, Chiliz (CHZ), which was positioned as a sports and entertainment blockchain fintech in 2019, laid the foundation for the development of the “crypto sports” business ecosystem. It supports many football clubs and issues fan tokens based on the basic platform (currently a public chain positioned for sports).

Since last year, Chiliz has reached cooperation with many top football clubs such as Manchester City, Arsenal, Barcelona, ​​Atletico Madrid, Juventus, Roma, AC Milan, Inter Milan, Paris Saint-Germain, etc., and issued fan tokens corresponding to each team. It is reported that Chiliz fan tokens can give fans the right to interact with the club and participate in management affairs, providing solutions for major teams to expand fan economy, shortening the distance between fans and teams and promoting stickiness.

With the organic combination of sports culture and crypto economy, and the approaching opening of major sports events represented by the Qatar World Cup, crypto investors have already obtained relatively generous returns in fan concept and football concept tokens. With the opening of the game, the benefits of such assets have been exhausted, and derivative investment products based on sports events are becoming new opportunities for crypto investors.

At present, Nftea has deeply combined NFT, options and sports culture for the first time, allowing investors to enjoy the event while also gaining considerable profits.

Nftea is a Web3-based NFT "teahouse" that has built a rich ecosystem based on sports culture. The ecosystem has options, games, galleries, and other creative derivative products. Nftea is a highly autonomous community based on DAO. Every community member can participate in the governance of the community. Based on the people-oriented ecological development concept, it will give everyone fair rights.

As the 2022 Qatar World Cup approaches, NFTEA has launched the first in the ecosystem and the industry, with the subject matter being NFT, a multi-option based on sports events, and innovatively adopts the AMM mechanism of NFT Option, which will be completely run on the chain in a decentralized manner according to the rules. Based on a simple option mechanism, users can support their favorite teams by casting options and obtaining NFT cards representing different teams for free. The NFT represents an option asset certificate with different conditions and has potential future value, and can be traded in the market at any time. At the end of the Qatar World Cup, the option will be exercised, and investors holding different teams will be expected to obtain considerable option income. The product has been launched on November 14 and can be purchased on the official website.

Nftea has also reserved a portion of the reward amount to carry out a series of airdrops and lucky draws (blind boxes), as well as rewards for community activists. With the opening of the World Cup and the progress of the event, the series of activities will be in full swing.

According to the relevant person in charge of Nftea, the NFTEA WorldCup 2022 series of products is a pilot project of the team in the field of NFT Options in sports. From 2023, it will also launch diversified sports NFT Option products such as the five major European leagues, NBA, four Grand Slam tennis events, and e-sports (Dota, League of Legends, CS) to serve users.

Nftea is an ecosystem with innovative potential. It focuses on the NFT and options markets to create high-quality products that are gaming-based and interesting, have massive profit potential, and can connect with football fans around the world.

Football culture is a blue ocean market with great potential. It uses culture as its main driving factor and is backed by a massive fan base with strong purchasing power and stickiness. Nftea is the industry's first in this field through its organic combination with NFT and options. It is expected to continue to advance as major global tracks approach, and provide new ideas and references for the development of the derivatives market.