The league, jointly owned by
Industries (65%) and Star India (35%), have partnered with London-based entertainment-focused Terra Virtua collectibles platform to create unique digital collectibles showcasing the league and its 11 clubs.
“We have signed a two-year licensing partnership with ISL to launch digital collectibles around ISL,” Gary Bracey, CEO of Terra Virtua, told ET. “We are not trying to replicate the culture of collectible cards. What we are trying to do is innovate and create a new collection culture using our platform. ”
Authorizes London-based Terra Virtua to create unique non-fungible tokens featuring the league and its 11 clubs for fans
He added that while many sports companies in this space have built their popularity solely on the basis of video clips from the games, ISL and Terra Virtua want to go a lot further and engage directly with fans, and make items from the games. collection an “intrinsic part” of the whole sporting experience.
“We see NFTs as a whole new form of entertainment. We also got along very well with the ISL team, our philosophies are aligned with the importance of respecting the fans, as well as making a decent commercial product. That’s how we’ve kind of moved forward, and we’ve been working together, and we’ve been discussing this for several months now, and we’re both aligned in terms of what we want to do, ”he said.
ISL digital collectibles will launch ahead of the 2021-22 season.
Since the launch of ISL in 2014, the league’s many memorable moments, player cards, match highlights and more will be made available to fans to purchase and redeem as interactive keepsakes via Terra Virtua Single Market under the licensed partnership.
Digital collectibles will also allow ISL and its clubs to connect with millennials.
Terra Virtua is the world’s first fully immersive digital collectibles platform and one of the world’s leading creators and markets using blockchain technology. It currently offers themed digital collectibles across a range of popular movies, TV shows and comics. This partnership with ISL is Terra Virtua’s first foray into the dynamic sports ecosystem.
Terra Virtua also recently switched its platform from the Ethereum blockchain to Polygon, in an effort to be more sustainable. By making this change, the company has reduced its power consumption for NFT typing by more than 99%.
“In the world of sports, everyone jumps on NFT… it seems to have become the new big thing. But we’ve been working hard on it for four years. We spent three years building the platform and have been trading for over a year now. So we’re not the kind of new kids in the neighborhood, ”added Bracey, who is also the company’s co-founder.
Terra Virtua also creates custom rooms for fans, where they can display their collectibles and allow their friends to admire the collection.
“There’s no point in collecting these things, if you can’t show them,” he joked.
Globally, NFTs, a blockchain-based technology that proves unique ownership of digital content such as video, photo or audio, is changing the way fans shop for sports collectibles. Last month, an Indian tech platform, Rario, launched the first cricket-based digital collectibles platforms.