The International Basketball Federation (Fiba) has landed a multi-faceted deal with the blockchain company Bitci. The blockchain has been named the global partner of Fiba.
This deal will help Bitci acquire commercial rights of almost all Fiba tournaments which will include the men’s and women’s Continental Cups, Youth World Cups, the women’s Basketball World Cup in 2022, as well as the men’s edition in 2023.
Moreover, Bitci will develop non-fungible tokens (NFTs) with Fiba, which in its early stages will focus on historic Fiba moments.
This deal will also comprise fan tokens, brand visibility on basketball courts, and awarding sponsorship rights for Fiba competitions.
“Fiba is committed to enlarging the basketball family and offering innovative opportunities to our members and fans”, said Andreas Zagklis, Fiba’s secretary-general.
“We are confident that Bitci will deliver first-class products through the blockchain, with a dedicated Fiba fan token and the joint development of NFTs. Technology is a key driver in basketball and working with Bitci will further enhance our footprint as well as our direct interaction with fans.”
Meanwhile in Spain, the most prestigious football league, La Liga is set to unveil its own NFTs through a new partnership with Sorare, according to 2Playbook.
La Liga stars Antoine Griezmann and Gerard Pique are the faces of Sorare which has a projected value of US$3.8 billion and will supposedly pay La Liga more than €10 million (US$11.8 million) per year as reported by some sources.
Sorare has reportedly signed a partnership deal with AS Monaco as well and the deal will see the cards use blockchain technology enhancing the authenticity and rarity of certain collectibles.