Virtualness wins exclusive multi-year Web3 deal for end-to-end rights to Philippine Basketball Association’s NFT digital collectibles
Virtuality platform will activate Philippine Basketball Association (PBA) to design, emboss, display and sell branded digital collectibles; and to use next-generation technology to connect with Filipino basketball fans around the world in new ways
SAN FRANCISCO, 3 January 2023 /PRNewswire/ — The Philippine Basketball Association (PBA) and Virtuality, a mobile-first platform that simplifies the complex world of the Web3, today announced that Virtualness will exclusively power an innovative, user-friendly digital experience for basketball fans to discover, explore, collect, trade, buy and own memorable, once-in-a-lifetime experiences , in-game moments via branded digital collectibles. These NFT collectibles span a variety of uses – from commemorative, topical, gamification to unlocking unique fan experiences.
“The PBA and its players are loved by its fanatical fans, not just inside The Philippinesbut all over the world,” said Kirthiga Reddy and Saurabh Doshi, co-founders of Virtualness. “We have been at the heart of Web2 ecosystem building, and the digital transformation of media, sports and entertainment for the past decade. We are on our journey to do so again in Web3 and are excited to enable the PBA to emulate various physical experiences in digital forms and in newer ways unlocked by the power of blockchain.”
PBA will feature a custom community built around buying, trading and owning digital collectibles. Fans can collect past and present live in-game moments and merchandise from the PBA season on the Virtualness platform. These moments such as Japeth Aguilar’s‘s dunks or June Mar Fajardo using the finesse and stature that has made him known as ‘The Kraken’, will all be available for fans to own and collect. They will be used to unlock unique virtual and real experiences such as player meet and greets or invitations to special seats as well as online discounts, exclusives and more.
“This is a logical next step for the Philippine Basketball Association. We have a history of being innovative, being the first basketball league in Asia and the first professional league outside the United States,” so Willie Martial, commissioner of the PBA. “In Virtualness, we’ve found a like-minded partner who understands how to make it super easy and fun for our amazing fans to expand their fandom via digital collectibles and experiences. We believe this will help us leverage next-generation technology to continue basketball’s relevance as cultural phenomenon i The Philippines and around the world.”
The Philippines is a tech-savvy nation, ranked among the top five nations worldwide interested in NFTs. According to ResearchandMarkets Philippines NFT Market Intelligence Report 2022, the NFT industry is in The Philippines is expected to grow steadily at a CAGR of 32.6% during 2022-2028 and reach $12.5 billion+ by 2028. In addition to building relevance, especially for the next generation, PBA believes this initiative will promote fandom and encourage more children to participate and learn the nation’s favorite sport.
“In my work with professional athletes and managers, I always strive to make a difference, that’s what led me to connect Virtualness with the PBA,” said Vincent ‘Chot’ Reyes, head coach of TNT Tropang Giga in the PBA and in the PBA. Philippine national team GILAS. “This is the players’ and the league’s way of giving back to our community of fans who have already given us so much. In turn, we believe this will help us deepen and strengthen the future of the PBA and the sport in general. It is time that the PBA are venturing into new arenas to connect with larger audiences, and I think they have the right partner in Virtualness,” added Reyes, who is an advisor on the partnership.
The PBA Virtualness platform will launch in the first half of 2023, with experiences and rewards for loyalty fans later in the year.
About Virtuality
Virtualness is a mobile-first platform designed to help creators and brands navigate the complex world of the Web3. Founded in 2022 by industry leaders Kirthiga Reddy and Saurabh Doshi, Virtualness puts creators first and builds the playbook for simple design, efficient sharing and seamless digital commerce. Authenticated creators and brands can use Virtualness to design, create and showcase branded digital collectibles; easily share across their social media channels; directly interact with their community; enable unique experiences and unlock new channels for revenue generation. Funding led by Blockchange Ventures with participation from Polygon Ventures, F7 Ventures, Micron Ventures, Better Ventures, FalconX, Impact Venture Capital, Neythri Futures Fund, Oceans Ventures, Perot JainVC3 DAO, Carolyn Everson, Randy ZuckerbergNuseir Yassin (Nas Daily), Nikki FarbShayamal Vallabhjee, Stacy Brown-Philpotand other thought leaders.
About the Philippine Basketball Association
The Philippine Basketball Association (PBA) is a professional men’s basketball league in the The Philippines composed of twelve company-branded franchise teams. It is the first professional basketball league in the Asia, and globally the second longest after the NBA. The league’s regulations include a hybrid of rules from the NBA and FIBA.
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