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🔊 BLOCKCHAIN SPORTS RAISES FUNDING TO GO LIVE


PLUS: CANDY DIGITAL MERGES WITH PALM NFT STUDIO & MYTHICAL GAMES SECURES $37
MILLION



Welcome to The Hype Report where we break down the latest news, stories &
insights at the intersection of sports, artificial intelligence & web3.


HERE'S WHAT YOU NEED TO KNOW THIS WEEK 📝

 * Blockchain Sports Goes Live After Receiving Private Funding ✅

 * Candy Digital & Web3 Production Company Palm NFT Studio Merge 🤝

 * Web3 Gaming Studio Mythical Games Secures $37 Million 🎮

 * Quick Hype 🎯


LET'S DIVE INTO IT 🤿




BLOCKCHAIN SPORTS GOES LIVE AFTER RECEIVING PRIVATE FUNDING ✅



Brazil-based Blockchain Sports (BCS) has made a few significant moves lately.

The Web3 ecosystem that’s enabling young athletes to become professional
athletes recently teamed up with Polygon and raised private funding to help the
platform go live.

More about BCS

BCS aims to merge Web3 and soccer by allowing fans to invest in the development
of potential star athletes.

Leveraging blockchain technology, they want to:

 * Give fans confidence in the integrity of the competition

 * Give athletes control over the use of their data

 * Allow event organizers to effectively manage events and ensure a fair
   environment for all participants

 * Offer new innovative opportunities for interaction between fans and their
   favorite teams

Fans can invest in promising players at the beginning of their careers and later
receive benefits when they reach higher-level clubs.

Via private funding

The BCS team stated that the $SPORTS token and its private sale will encourage
new opportunities for rewards and participation.

The capital will supposedly be used for the following:

 * Full education for all of the academy's soccer players

 * Accelerating product development

 * Strengthening BCS' market presence through marketing, scaling, construction,
   and legal components

With a total supply of 68M tokens, users can burn the $SPORTS token and receive
an NFT.

By holding the NFT they will supposedly receive passive income, become co-owners
of an operating business and receive a share of the project's net profit.

They’re also in the process of building a soccer academy in Acopiara, Brazil.



The soccer academy is focused on giving children from low-income households an
opportunity to participate.

With blockchain, fans can easily track players' progress.

They can also interact with players directly by investing in their development
and purchasing personal NFT cards.

Each player will also have a media portfolio to see key performance indicators
(KPIs) from practices and games from critical moments, goals, assists, and saves
if the player is a goalkeeper

Scouts and agents can better evaluate the player's true value as well as their
strengths and flaws with the technology as well.

Using blockchain, the BCS team says they, “remain committed to foster
transparency, fairness, and engagement.”

With the successful closure of its private sale, the company is keen on bringing
soccer enthusiasts to a more immersive experience and allowing them to be closer
to the game than ever before.

Why Does This Matter?



We’ve seen this before or something similar with Fantium.

Here are a few reasons why this model interesting…

Tokenization and Crowdfunding:

Blockchain enables the tokenization of assets, including athletes' future
earnings or rights to their performance.

By tokenizing these assets, athletes can create digital tokens that represent a
share of their future income or career success.

Fans and investors can then purchase these tokens, effectively providing
financial support to the athletes early in their careers.

This allows athletes to raise funds directly from their deepest fans, avoiding
traditional intermediaries and accessing capital that might not have been
available otherwise.

Fan Engagement and Revenue Sharing: 

With BCS using blockchain, it can enable athletes to directly engage with their
fans and monetize their popularity.

With digital tokens or NFTs, athletes can also provide unique giveaways,
exclusive content, or access to special events to their fanbase.

This direct fan engagement model can create a more sustainable income stream for
athletes, and possibly the fans as well.

Royalty Tracking and Transparency: 

Blockchain provides transparent royalty tracking for athletes.

Smart contracts on the blockchain can automate the tracking and distribution of
royalties from merchandise sales, licensing agreements, and other revenue
streams.

Athletes can have a clear view of their earnings, eliminating potential
discrepancies or delays in receiving their rightful compensation.

Overall, blockchain can be incredibly useful for athletes looking to fund their
careers and bring fans along the ride.

Will BCS pull all of this off?

That’s still TBD.

But you have to admit it’s a compelling model.





CANDY DIGITAL & WEB3 PRODUCTION COMPANY PALM NFT STUDIO MERGE 🤝



Candy Digital, has certainly had its struggles over the past few months.

But just this week, they announced a significant merger with leading web3
production company Palm NFT Studio.

Why?

This partnership brings two of the top creators of officially licensed digital
collectibles around sports and culture together as one.

The plan is for the brands to operate under the Candy Digital name, and
combined, the company will help to accelerate the development and implementation
of innovative digital experiences for some of the world’s leading brands,
including:

 * Major League Baseball

 * NASCAR

 * WWE

 * Netflix

 * Warner Bros Discovery

This is a natural evolution for both companies.

They both are focused on scaling their platforms, as well as developing and
launching digital collectibles, marketplaces, and loyalty programs that help
companies deepen relationships with communities.



Candy Digital CEO Scott Lawin will lead the combined company.

Palm NFT Studio Co-Founder and CEO Daniel Heyman will join as President of Candy
Digital.

Over 2 million digital collectibles have already been minted on Candy.com with
nearly 500,000 marketplace transactions.

Meanwhile, the DC NFT Universe, which partnered with Palm Studios in 2021, is
one of Web3’s most engaged platforms with over 450 million social media
impressions, over 675,000 accounts, and over 230,000 marketplace transactions.

Palm Studios also has partnerships with Universal Music Group and Warner Bros.

Microsoft and Warner Bros. were investors in Palm’s $27 million Series B raised
in December 2021.



Candy Digital is backed by a diversified group of top technology investors,
including:

 * Galaxy 

 * ConsenSys Mesh

 * 10T Holdings

 * Will Ventures

Candy Digital is also the leading platform on the PALM network, an
Ethereum-compatible sidechain built to serve as the foundation of a new scalable
and sustainable ecosystem for NFTs.

Unfortunately, the company announced that more layoffs were part of this merger
process as well.




WEB3 GAMING STUDIO MYTHICAL GAMES SECURES $37 MILLION 🎮



Believe it or not, the money is still flowing into the Web3 gaming space.

Heavily.

Web3 gaming studio Mythical Games recently secured $37 million in funding for
the first part of a Series C extension round.

The funding was led by Scytale Digital, with participation from well-known
investors such as:

 * ARK Invest

 * Andreessen Horowitz

 * Animoca Brands

The extension follows a $150 million Series C round in November 2021, which was
led by a16z.

At the time Mythical Games was valued at $1.25 billion.

They plan to close the extension round later this year and anticipate raising
$20 million to $30 million in additional capital.

According to CEO John Linden, these funds will be used for, “Platform updates,
infrastructure developments, and enhancements, and the development and
subsequent launch of additional games in the pipeline.”



Mythical Games is known for its Mythical Chain blockchain and gaming ecosystem,
Mythical Marketplace, and popular blockchain-based games NFL Rivals and Blankos
Block Party.

NFL Rivals topped a million downloads last week, only two months after its
launch.

Other backers in the company include:

 * PROOF VC

 * Stanford Athletics

 * MoonPay

 * WestCap

 * Gaingels

 * Signum Growth

 * Struck Capital

The company has not been without hardships though.

They lost three top executives in early November last year and a day later
announced job cuts that impacted 10% of their workforce.

The former executives went on to form Fenix Games, and Mythical Games sued the
trio in December for secretly raising $150 million for their new firm.

As far as future plans, Mythical Games will launch Nitro Nation World Tour later
this month.

The racing game for mobile and desktop will feature car brands like Aston
Martin, Jaguar, Pagani, and Lotus and will let players to race around the world
to collect digital vehicles.

Why Does This Matter?

In past reports, I’ve discussed why gaming is important to the Web3 ecosystem.

Here are a few reasons…

 1. Engaging and interactive experiences

 2. Natural use case for digital assets and ownership

 3. Play-to-earn mechanics and economic empowerment

I believe that gaming can be a huge driver in the effort to help Web3 reach
scale.

Investors might not directly feel the same, but as always, the money never lies.




QUICK HYPE 🎯

Blockchain Sports Goes Live With Private Round, Expanding the Power of Web3 With
Sports.

MVP Index Raises $20 Million To Develop An Asset-Based AI Sponsorship Valuation
Platform.

Wimbledon’s New Fortnite Plugin Seeks To Expand Tournament’s Youth Appeal.

FC Barcelona Launches 'Empowerment', The Second NFT Of The 'Masterpiece'
Collection.

A New Apple Patent Suggests You'll Wear Vision Pro Headset At NFL Games.

Premier League Joins Advisory Group For Comcast NBCUniversal SportsTech
Accelerator.

Sports Technology Deals Reach $3.5 Billion In Q1 As VCs Eye Further Investments.

Jake Paul’s Betr Raises $35 Million At $300 Million Valuation Led by Roger
Ehrenberg.

GameOn Confirms Closing Of Previously Announced Financing, Increased To $1.81
Million.

Premier League Launches Augmented Reality Experience Ahead Of Summer Series.



Thank you for reading this week.

Talk again soon.

Malcolm


WHAT'D YOU THINK OF TODAY'S EDITION?

 * 🔊🔊🔊🔊🔊 Knocked it out the park
 * 🔊🔊🔊 Ehh, it's okay. Do better
 * 🔊 Nah, this wasn't it

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This newsletter is for informational purposes only and is not financial or
business advice in any capacity. The information shared is my thoughts &
opinions and does not represent the opinions of any other person, business,
entity, or sponsor.

The contents of this newsletter also should not be used in any public or private
domain without the author's express permission. The contents of this newsletter
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consultancy activity, or paywalled article, without the author's express
permission.



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