World Archery’s Annual Awards is going virtual by partnering with LEVERADE, a sport-based blockchain to launch NFT awards for players. This is the first time an archery show is adopting NFTs.
The sports industry is slowly joining the NFT bandwagon starting from Basketball, Football, and now Archery.
World Archery will be holding annual awards to commemorate the best-performing archers by awarding them trophies. However, instead of physical trophies, the club will be giving them NFTs.
The ten awards NFTs will be released for Athlete of the Year trophies for 2022 and presented at The Archery Show to be held in December 2022 after the public voting that will take place in November.
According to the press release, the awards will be distributed as: – 6 Recurve, Compound, and Para for men and women. – 3 Breakthrough, Coach, and Judge of the year. – 1 Overall Athlete of the Year
The award show will also shortlist athletes and induct them to the World Archery Hall of Fame. The first two people from this category will also receive NFT awards.
The NFTs will be digital artworks whose parts can be traded in the marketplace. This means the awards have utility instead of just being a showcase NFT.
“We’re pushing our annual awards…embracing cutting-edge technology that will allow them to share their awards with fans and potentially bring real value to our sport,” Tom Dielen at WA said.
“We are proud to be the technological partner of World Archery and deliver digital trophies in NFT format to its athletes,” LEVERADE CEO Antonio Romero said.