One of Japan’s leading football (soccer) teams is delving into Web3 with the launch of an non-fungible token collection.
The Urawa Red Diamonds (the ‘Reds‘) just announced it has collaborated with one of the largest social media platform for investors in Asia, Minkabu, to release an NFT collection powered by the Minkabu wallet and THXNET — a blockchain hybrid infrastructure that provides Layer 0 and Layer 1 support.
The move is a big step towards integrating Web3 technology into sports in Asia. To onboard non Web3 natives, fans interested in purchasing the NFTs do not need a crypto wallet but can purchase the digital assets in fiat currency thanks to THXNET.
The NFTs will consist of rare memorial videos, photographs, and audio and video clips that will be available in limited quantities. The NFTs will also be integrated into retail experiences, allowing fans who purchase online products and in-store goods to obtain digital assets by scanning a QR code. This blending of physical and digital products, known as “phygital,” has become increasingly popular for brands and companies hoping to attract people into Web3.
According to the report, Minkabu is bullish on Web3 and NFTs, and foresees a fourfold increase in the market size within a year. Based on this prediction, the company is working hard to expand its network of alliances and offerings in Web3.
The Urawa Reds compete in the top tier football league in Japan, the J1 League. The team plays in Saitama, a city that’s part of the Greater Tokyo Area, and has been around since 1950.
Sports Teams, Leagues, and Players Embrace Web3
For fans of the renowned Japanese football team the Urawa Reds, the launch of rare digital assets tied to historic moments in the team’s history is exciting news. But the Reds are far from the only first professional sports team to embrace Web3. In fact, the sports industry has been one of the most bullish sectors when it comes to NFTs.
At Rarity Sniper, we’ve covered dozens of articles about sports teams, players, and leagues dropping NFT collections, and investing time and energy into Web3 products and experiences. Here are some of the top headlines from the past six months:
- NHL Opens NFT Collectible Platform to Public
- ICC Takes Cricket Fans to Web3
- Kraken, F1’s Williams Racing to Bring NFTs to Grand Prix
- NHL Debuts NFT Collectibles Platform ‘NHL Breakaway’
- MVP Patrick Mahomes to Drop 15,000 NFTs in September
- Andy Murray, Wimbledon Join Forces for ETH NFT
- U.S. Women‘s Golf Open Unveils Free ‘ArtBall‘ NFTs
Collectibles like trading cards have always been a big part of sports. Now NFT technology offers a new way to connect fans to their favorite teams and players, and its unsurprising that many are taking advantage.
We’ll have to wait to see if the NFT collection from the Urawa Reds is popular with fans. But if it is, we expect more professional sports teams in Asia will hop on the bandwagon. To learn more about NFTs in sports, check out our deep-dive article: How NFTs Are Revolutionizing Sports.