VANCOUVER, British Columbia--(BUSINESS WIRE)--NFT Technologies Inc. (NEO: NFT | Frankfurt: 8LO | OTCQB: NFTFF) ("NFT Tech"), a leading technology company partnering with top-tier brands to accelerate their entry into the world of web3 through innovative technologies and unparalleled creativity, is pleased to announce a strategic focus on golf and collaborating with some of the world’s most iconic golf championships.
Golf joins the ranks of tennis and table tennis in utilizing NFT Tech's innovative technology. This collaboration will span web3 strategy, including digital collectibles, metaverse experiences, and digital experiences that provide new and exciting ways for golf fans around the world to engage with the sport that combines real-time data and sports analytics with digital memberships and blockchain-based rewards.
"We are humbled to be working closely with world-class sporting organizations to oversee innovative and creative web3 initiatives that will redefine the possibilities for golf engagement,” said Adam De Cata, CEO of NFT Tech. “There have been plenty of learnings from our AO ArtBall and tennis fans, and we feel super confident that not only can we continue to evolve our tennis project but the opportunity in golf will connect to an even larger sports fan base. We look forward to announcing the various events and broadcasts featuring our technology in the near future.”
NFT Tech has pioneered the use of live sports data in combination with NFTs to enhance the fan experience of live sports events. The company has previously announced that its novel approach to building web3 experiences is now going beyond line-calling technology, used across athletics, football, cricket, rugby, and volleyball. This new partnership is a testament to that effort.
According to the National Golf Foundation, the number of Americans playing golf has seen a 10% increase in the last two years, bringing the total number of participants to 37.5 million and the total number of those who followed golf on television or online, read about the game, or listened to a golf-related podcast in 2021 to 106 Million. This is reflected in the fact that the audience for the game has grown both younger and more diverse, says the foundation's statistics.
"Our products are akin to fantasy leagues, where real-world game data is seamlessly integrated with a digital experience, enabling players to actively engage with sports on a frequent basis, and driving their interest in watching more games, due to the performance of their teams," continued Adam. "But what sets our products apart, is that we elevate the experience by providing players with an unprecedented level of utility through digital asset ownership, thereby allowing them to reap rewards beyond the realm of traditional fantasy leagues – this is the future of digital memberships."
According to a recent report by Straits Research, the global fantasy sports market is expected to reach a valuation of USD 78.5 billion by 2030, growing at a CAGR of 14% during the forecast period (2022-2030). The market's tremendous growth is largely attributed to the proliferation of digital infrastructure in developing regions. The report cites India and China as key examples, with internet subscriber numbers in India estimated to reach 639 million by the end of 2020, and 900 million internet users in China as of March 2020. The report also highlights the increase in average data consumption per subscriber, due to the availability of inexpensive smartphones and declining data pricing. The growth in digital infrastructure, along with the availability of high-speed internet at affordable prices, is driving the development of the fantasy sports market in these regions.
About NFT Tech
NFT Tech builds products that accelerate web3 adoption by infusing utility into digital assets. The company’s technology is designed to increase consumer engagement, enable digital asset ownership, and discover new business models, making NFT Tech a trusted partner to global brands across many industries, including sports, entertainment, and art. NFT Tech’s award-winning studio is the recipient of the first-ever Cannes Lion for an NFT Activation, of the most respected and well-known awards in the industry.
NFT Tech is publicly listed on the NEO exchange under the symbol NFT and on OCTQB under the symbol NFTFF. By bridging the gap between traditional capital markets and the web3 space, NFT Tech is mainstreaming the new era of the internet while bringing insights and benefits to the public markets.
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Cautionary Note on Forward-Looking Information
This press release contains certain forward-looking statements within the meaning of applicable securities laws with respect to the Company. These forward-looking statements generally are identified by words such as "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," and similar expressions. Forward-looking statements in this press release include statements relating to completion of the acquisition of Run It Wild and closing date thereof; benefits realized from the Transaction and appointment of Adam De Cata as chief executive officer of NFT Tech; expansion of the Company's NFT developments and product offerings; potential benefits and demands for direct-to-consumer NFT projects; potential benefits, development and acceptance of web3 and related applications; continued employment of Run It Wild employees and the value of their experience; plans for accelerating growth; and the continued public acceptance of NFTs; statements relating to the agreement with the golf organization and closing date thereof; scope, exclusivity and length of engagement in partnership with golf organization; popularity of golf worldwide; continued viewership and growth of golf; development and acceptance of blockchain based memberships; benefits realized from the agreement. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release including, without limitation, the risk factors described in the Prospectus. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable laws.
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