International Journal of Internet, Broadcasting and Communication

The Institute of Internet, Broadcasting and Communication (한국인터넷방송통신학회)
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Web3.0 Metaverse Business Model Innovation of Sports Media

  • Song, Minzheong (Department of Media Communication & Advertising, Hansei University)
  • Received : 2024.05.12
  • Accepted : 2024.05.24
  • Published : 2024.08.31
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Abstract

We study three sports media start-ups that seek to promote business model innovation (BMI) in which Web 3.0 and metaverse are converged. In results, LM starts from an innovative digital space platform offering a unique combination of virtual real estate, games, and non-fungible tokens (NFTs) which come with real-world earning potential. It creates value by integrating virtual real estate, training academies, blockchain games, and meta shops to offer a unique experience, capture value by offering monetization tools for buying and trading limited edition NFTs of favorite influencers from various sports leagues, offering access to premier real-world events and VIP game contests, and delivers value by building community to play games with favorite athletes or teams including trivia games, allowing fans to engage with their favorite athletes in a unique exclusive way. SL starts from the customizable digital identities especially for young sports fans like generation (gen) Z to play, hang out, and express themselves with their own avatars. SI starts from a leading Web3.0 metaverse innovator creating NFTs with the greatest athletes of all time, allowing athletes and creators to set up a profile and mint NFTs directly onto the blockchain. It tries to have the partnerships with great athletes revolutionizing the sports media industry to connect sports heroes and their super fans through an immersive, artistic, inspirational NFTs and unlockable content creating a sticky community between them.

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