Hero ISL becomes first sports league in India to enter NFT market; partners with Terra Virtua

Hero Indian Super League (ISL) on Wednesday announced a landmark partnership with London-based Terra Virtua Limited to launch its exclusive non-fungible tokens (NFTs) as digital collectibles ahead of the 2021-22 season.

The agreement sees ISL, the top division in Indian football, become the country’s first sports property to launch a digital collectibles series, leading the Indian sports industry in the fast-growing NFT market.

Terra Virtua is the world’s first fully immersive social, digital collectibles platform and is one of the world’s leading creators and marketplaces using blockchain technology. It currently offers themed digital collectibles across a range of popular movies, television shows and comic books.

This partnership with the ISL is Terra Virtua’s first foray into the dynamic sports ecosystem.

Under the licensed partnership, Terra Virtua will create unique digital collectibles featuring the Indian Super League and all its 11 clubs.

Since the ISL’s launch in 2014, the league’s many memorable moments, player cards, in-match highlights and more will be made available for fans to purchase and trade as interactive memorabilia through Terra Virtua’s unique marketplace.

Commenting on the development, Hoshedar Gundevia, ISL’s Head of Digital said: “Digital collectibles have been one of the most talked about fan engagement avenues in 2021, and ISL being a young league would like to keep pace with the demands of India’s millennial and Gen Z audience segments.”

“We are extremely excited to be working with Terra Virtua to remain at the forefront of the next wave of innovation around fan engagement. Digital collectibles offer innovative opportunities for the league and its clubs to connect with the growing Indian football market and attract newer audiences,” he added.

Meanwhile, Terra Virtua CEO and co-founder, Gary Bracey commented: “This is a big day for the future of Indian and international sport. The partnership signals a fundamental shift in the way sports fans will be able to engage with their favourite sports teams going forward, allowing them to collect and trade Interactive player merchandise and dynamic digital memorabilia with fellow fans.”

“The partnership also demonstrates strong, continued growth in the NFT market, reinforcing that digital collectibles are the future of fan merchandise and digital art,” he added.

News Desk

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