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World’s First Pay-Per-View NFT Sporting Event to Be Held in Dubai by DailyCoin

The world’s first pay-per-view NFT sports event will be held in Dubai

Just a few days ago popular boxing champions, Floyd “Money” Mayweather and “Dangerous” Don Moore confirmed an exhibition bout for the month of May. While this is good news for boxing fans, the latest announcement has also sparked interest in a new trend in the cryptocurrency space.

According to the official statement released by the “Global Titans Fight Series” on Wednesday, the exhibition match between Mayweather and Don Moore will take place on May 14 and will include an exclusive pay-per-view live stream for NFT ticket holders. Wait, did we just say “NFT ticket holders”? You are quite right.

The exhibition bout will take place in Dubai at the Burj al-Arab Heliport, and the event organizer has made arrangements for a hybrid audience to attend. As a result, people can either step into the Burj al-Arab heliport to watch the match in person or stream the event live from anywhere in the world.

However, taking a step back from the typical method of live event broadcasting, the exhibition fight organizers are taking an unprecedented approach.

In what has now been labeled as the world’s first-ever NFT sporting event, the match’s virtual stream will only be available to NFT ticket holders. Thus, spectators who are not physically present will be able to benefit from exclusive access to a pay-per-view stream via NFT tickets.

Interestingly, this isn’t Mayweather’s first pay-per-view exposure since retiring in August 2017. He’s already made headlines for a number of these exhibition bouts, including ones with Tennshin Nasukawa. and Logan Paul in December 2018 and June 2021 respectively.

Either way, the upcoming display is the first of its kind to be supported by NFT technology, making it a truly sensational fight to look forward to next month.

Considering this will be the first NFT pay-per-view for a sporting event, all interested viewers will need to purchase tickets from “Rarible” to gain exclusive access to the event.

What to expect from the merger of NFT and sports

Undoubtedly, the virtual broadcasting of sporting events is not a new initiative and is an age-old practice. However, it cannot be denied that the current methods used to broadcast sporting events are not without flaws.

The current dominant model of generating revenue through streaming services is not at its best, especially for organizers, who often have to sign a partnership agreement with host streaming services for exclusive rights, thereby inconveniencing their audiences. , and therefore their sources of income. For lack of a better explanation, people have to subscribe to services like DSTV, Hulu, ESPN, etc. for even a chance to access some of these sporting events.

While this practice is highly profitable for streaming services, it may not be the same experience for organizers themselves, who largely have to wait to receive a portion of streaming revenue.

However, all of that is about to change with the integration of NFTs into sports, which introduces a new approach to streaming and ticketing. In short, NFT ticketing will promote the distribution of exclusive content beyond the traditional method adopted by streaming services.

By combining NFT and PPV, organizers can earn revenue directly from NFT ticket sales, while broadcasting the show live on a dedicated landing site. Although at first it may not generate as much attention or buzz as conventional methods, it will certainly help organizers maximize their earning potential over time.

When it comes to viewers, people can enjoy the luxury of exclusivity as they can boast of acquiring unique NFT access to a sporting event, like the upcoming exhibition fight between Mayweather and Don Moore.

In addition to bragging rights, NFT ticketing guarantees that the number of screen views and the number of tickets sold are exactly the same. By comparison, most traditional streaming services offer multiple screen views, meaning a single subscription can provide access to up to five additional viewers, depending on the streaming service; and that’s not to mention viewing parties and get-togethers.

Finally, the new ticketing approach eliminates some of the existing setbacks inherited from the traditional ticketing system, including black market sales which ultimately lead to a lack of confidence among buyers who find it difficult to identify the difference between a fake or a authentic source.

The lack of real exchange protocols has also been a constant drawback of the traditional ticketing system, as it is nearly impossible to track customers or exchange data across a vendor’s boundaries.

For example, when an event sells out, people often resort to secondary purchases. Unfortunately, when a ticket is resold on the secondary market, it no longer belongs to the original purchaser, which the event organizer has. As a result, event planners struggle to keep track of who is at their event. Likewise, it becomes difficult to change the name of a ticket, let alone control how many times a ticket will change hands.

Ultimately, while the NFT use case is still in its infancy, it absolutely has the potential to disrupt the ticketing industry.

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