NFT Technologies is serving up a new collaboration with World Table Tennis, which hosts global championships sanctioned by the International Table Tennis Federation.
The Vancouver-based web3 startup says an exclusive multi-year deal with World Table Tennis will see NFT Tech develop and execute a web3 strategy to engage the global fan base and “reach the frontier of emerging technology.”
“I’m extremely excited for what we’ll be able to show off to the world,” said Adam De Cata, CEO at NFT Tech. “Table tennis is exploding in terms of global popularity and participation and the WTT has been very forward-looking and progressive in leading sports technology innovation.”
According to De Cata, NFT Tech plants to “build exciting multi-faceted experiences that further elevate fan and player engagement including play-to-earn, which in itself is a multiple-billion-dollar opportunity space.”
WTT reports a global fanbase of more than 500 million viewers across 50 global events annually.
“WTT has been researching and planning its entry into the web3 space for over 15 months now, studying and analyzing ways in which we can create greater fan engagement through web3,” explains Michael Brown, WTT Chief Financial Officer. “We believe that coming up with a web3 strategy will resonate with our core fanbase and their interests, while also attracting new fans to participate in the world of table tennis.”
“This multi-year partnership is a natural continuation of the momentum NFT Tech built at the Australian Open,” continued Adam.
“With fifty annual events (as opposed to just one), World Table Tennis presents a ton of potential—not just with new projects or ideas, but also with a business model that leverages resale royalties,” noted De Cata. “With so many tournaments and events, we’ll be able to drive more utility for owning certain NFTs that will come with huge benefits to the fans but also huge opportunity for NFT Tech.”
De Cata joined NFT Tech in July through an acquisition of Run It Wild, a multidisciplinary blockchain, metaverse and NFT development studio, which he founded.
Earlier this summer, NFT Tech announced a collaboration with Walken, a move-to-earn mobile app that uses the movement detection capabilities of standard smartphones and wearable devices to capture the step counts of users, who are then rewarded with WLKN tokens for in-app game play and NFTs.