In the rapidly evolving world of Web3, sports projects are making significant strides, leveraging blockchain technology to redefine fan engagement and deliver exciting new ways for fans to interact with their favourite sports. Whether they are established loyalty or tokenisation solutions used by big brands or up-and-coming independent platforms with groundbreaking new features, these projects are paving the way for a more interactive, immersive, and rewarding fan experience. Let's take a look at the top five sports projects currently leading the charge in the world of Web3, as well as how a promising up-and-coming contender, The Winners Circle, is poised to challenge the established projects in the space:
Socios is a blockchain-powered platform that has transformed the way fans engage with their favourite sports clubs. Known for its fan tokens, Socios has established partnerships with major football clubs, esports organisations, Formula 1 teams, and other sports brands.
The platform allows fans to buy, sell, and trade these tokens, granting them exclusive voting rights and VIP rewards.
Socios is perhaps best known for its partnerships with iconic football clubs such as FC Barcelona and Manchester City. Fans can own tokens like the FC Barcelona Fan Token and the Manchester City Fan Token, enhancing their connection to the clubs.
Additionally, clubs can create and distribute NFTs as rewards to loyal fans. A notable example is AC Milan's NFT featuring Zlatan Ibrahimovic's celebration after scoring against AS Roma.
Despite its initial momentum, it is often argued that the utility of Socios tokens could be more extensive and offer more value to fans. However, with a total market cap of $450 million, Socios remains an established player in the Web3 sports landscape.
McLaren F1 has made significant strides in bringing Web3 to its fan engagement strategy through its innovative use of NFTs.
Since the start of the 2023 Formula 1 season, McLaren F1 has distributed 2.1 million free NFTs to 574,500 unique fan wallets. These NFTs offer various utilities, including exclusive experiences and collectibles.
NFT holders have the chance to win a race experience for two in 2024, a 1-of-1 physical poster signed by a McLaren F1 Team driver, or a virtual meet-and-greet with McLaren Racing CEO Zak Brown.
Fans who collect all 23 race collectibles can enter a draw for these exclusive rewards.
NBA Top Shot is one of the original Web3 sports projects that set the stage for licensed digital sports collectibles.
Launched by Dapper Labs, NBA Top Shot allows fans to purchase, trade, and own unique, officially licensed video highlights from the NBA, known as "moments." These moments are stored on the blockchain, ensuring their authenticity and rarity.
The platform experienced a massive peak in 2021, with $50 million in sales in one day and over 100,000 unique traders. Each moment has a limited edition run and can be bought, sold, or gifted, creating a dynamic marketplace where fans can own a piece of NBA history.
NBA Top Shot has established itself as a trailblazer in the Web3 sports space, offering fans new ways to connect with their favourite teams and players.
Sorare combines the thrill of fantasy sports with the benefits of blockchain ownership and scarcity by allowing users to collect and trade unique digital collectibles. These NFTs feature players from major football clubs and can be used in online fantasy football games and tournaments.
The platform consistently achieves impressive sales month and boasts a loyal user base of around 30,000 players. The platform engages fans by enabling them to own, trade, and compete with digital cards of their favourite players.
Sorare's blend of collectibles with integrated utility supported by interactive gameplay has made it a standout project in the Web3 sports arena.
An up-and-coming project that is poised to disrupt the Web3 sports space, The Winners Circle is an innovative fan engagement platform launched by Racing League and powered by Zilliqa that rewards fans for their engagement and provides them with exclusive experiences.
This horse racing loyalty programme rewrites the rules of engagement to give fans the opportunity to have a stake in their favourite sport.
The platform offers extensive opportunities for engagement that include discounts on racehorse ownership syndicate shares, becoming a manager in a fantasy prediction game, and governance voting on crucial team decisions.
The Winners Circle also features a Skill2Earn prediction game where fans can earn $HRSE tokens for making accurate predictions in real-life races. These tokens provide various utilities, including part-ownership of racehorses and access to exclusive rewards.
The Winners Circle also plans to launch its $HRSE token this year, aiming to reach 2.5 million racing fans through its Racing League partnership.
The platform offers a level of meaningful engagement and opportunities for rewards that are truly unmatched. With its innovative Skill2Earn mechanics and recent partnership with star jockey Saffie Osborne, The Winners Circle is making waves as a promising new contender in the world of Web3 sports.
