OneFootball, a German soccer media app, has raised $300 million in a Series D round to grow the company’s Web3 presence and develop new features on its platform.
According to an announcement on Thursday, OneFootball and non-fungible token-focused Animoca Brands have created a joint venture called OneFootball Labs. The new platform “will enable clubs, leagues, federations and players to provide digital assets and fan-centric experiences based on blockchain technology.” Additionally, fans will be able to obtain and store virtual collectibles using their email address and credit card.
The funding round was led by Liberty City Ventures, with participation from blockchain platforms and venture capital firms including Animoca Brands, Dapper Labs, DAH Beteiligungs GmbH, Quiet Capital, RIT Capital Partners, Senator Investment Group and Alsara Investment Group.
Animoca Brands will bring its expertise and network in blockchain, NFTs, gaming and the metaverse to help OneFootball develop new products and services that increase digital fandom while generating new revenue streams for the football industry. In a statement, Lucas von Cranach, founder and CEO of OneFootball, said:
“We believe that the future of football outside the stands and off the pitch will be decentralized and built on Web3, returning ownership of data and digital assets to fans.”
Murtaza Akbar, Managing Partner of Liberty City Ventures, highlighted OneFootball’s 100 million monthly active users as an opportunity to leverage blockchain technology for a massive community of soccer fans.
At the beginning of this year, Cointelegraph noted that increased interactivity and ownership of virtual items are some of the salient features of the metaverse. OneFootball could be using both opportunities to give more fans greater access to the “beautiful game”.
Manchester City, the champions of the English Premier League, announced their entry into the metaverse by signing a three-year deal with Sony to provide virtual reality professionals for image analysis and Hawk-Eye skeletal tracking technology.. Neighbors Manchester United have also entered the Web3 ecosystem after a partnership with Tezos, announced on February 10.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Keep reading:
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.