Berlin-based football app enters metaverse after raising $300 million
OneFootball, a German football media app, raised $300 million in a Series D round to grow the company’s presence on Web3 and develop new features on its platform.
According to an announcement on Thursday, Animoca Brands, focused on OneFootball and non-fungible tokens (NFTs), has created a joint venture called OneFootball Labs. The new platform “will enable clubs, leagues, federations and players to deliver digital resources 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 provide its expertise and network in blockchain, NFTs, games and the metaverse to help OneFootball develop new products and services that will 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 the future of football off the stands and off the pitch will be decentralized and built on Web3, returning ownership of data and digital assets to fans.”
Murtaza Akbar, the managing partner of Liberty City Ventures, pointed to OneFootball’s 100 million monthly active users as an opportunity to leverage blockchain technology for a massive community of football fans.
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Earlier this year, Cointelegraph noted that increased interactivity and ownership of virtual objects are some of the most notable features of the metaverse. OneFootball could jump at both opportunities to give more fans better access to the “beautiful game”.
Manchester City, the English Premier League champions, have announced their entry into the Metaverse by signing a three-year deal with Sony to provide virtual reality to professionals for image analysis and Hawk’s skeleton tracking technology -Eye. Neighbors Manchester United also entered the Web3 ecosystem after a partnership with Tezos, announced on February 10.