Metaverses – A Brave New World for Sports Brands?

If you picture the seemingly limitless world of social media as a place for brands to promote themselves, metaverses may be viewed as the further merging of two spheres: gaming and digital communities.

The so-called ‘Web3’ revolution (see below) is opening up the world of marketing to a new generation of sports fan.  For the Millennial and Gen Z generations in particular, video games, on-demand content and social media are core components of the entertainment sector. Young new audiences are now familiar with engaging in content in a variety of ways across numerous platforms. There are likely millions of traditional sports fans who have been converted to the ‘real’ sport by virtue of their PlayStation or Xbox, and vice versa. It has been the perfect marketing tool in many ways.  Encouraged by the feeling of autonomy, this new category of sports fan has proliferated and sports brands and talent need to be ready, willing and able to welcome them in.

After a few false starts, sports, gaming and entertainment now look to be converging upon a new era: metaverses.

Given the dynamic nature and huge breadth of the topic, this article will seek to:

• provide a brief and current definition of metaverses;

• explain what opportunities there might be for sports brands, athletes, events and rightsholders; and

• set out how you might protect your sports business from any associated legal and commercial pitfalls.