Plugged in 3verywhere: Miami Heat Star hit with lawsuit, FIFA Debuts AI Soccer Game, Man City star Dias sets up training in metaverse
Issue #18
Welcome to Plugged in 3verywhere, that breaks down major trends, news, and insights shaping the intersection of sport business & web 3.
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Binance & Miami Heat’s Jimmy Butler facing $1 Billion Crypto Lawsuit 🏀💲
Have you heard the about the term the domino effect? Well, in the world of crypto and sports business, it's more like a falling house of cards. This year, one scandal after another has been toppling influencers and ambassadors in the industry like a series of cascading cards.
The Moskowitz Law Firm and Boies Schiller Flexner have filed a $1 billion civil lawsuit against Binance, its CEO Changpeng Zhao, and several celebrities and influencers, including NBA star Jimmy Butler. The lawsuit alleges that Binance and its partners touted unregistered securities and paid celebrities to promote the exchange and solicit new customers.
The lawsuit specifically mentions the use of "Brand Ambassadors" such as Jimmy Butler, who were contracted to promote Binance through traditional advertisements on television and social media. The influencers and celebrities mentioned in the lawsuit, including YouTubers Ben Armstrong (BitBoy Crypto) and Graham Stephan, are accused of receiving kickbacks for getting people to sign up for Binance.
Binance, the world's biggest crypto exchange, and its native token BNB, which has a market cap of $48.8 billion, are under increased scrutiny from U.S. authorities. The lawsuit argues that BNB's "burn rate," the number of tokens taken out of circulation, is determined by Zhao and represents "a classic example of a centralized exchange, which is promoting the sale of an unregistered security.”
In recent months, several celebrities and athletes have faced legal action related to cryptocurrency promotions. Despite this, the relevance of cryptocurrency in sports is unlikely to diminish. As Web 3 continues to grow and expand, it is essential for businesses operating in the space to adhere to ethical standards to avoid legal repercussions and maintain trust with consumers.
FIFA Debuts Its AI-Powered World Cup Soccer Mobile Game ⚽️
The soccer video game industry is in for a shakeup as two iconic brands FIFA and EA Sports have parted ways. The two companies have revealed their respective game plans, with EA Sports FC set to launch this year and FIFA releasing its mobile game AI League.
Created by Altered State Machine, AI League is a 4-on-4 casual football game, with AI-controlled players featuring unique AI traits that define their strengths and weaknesses. Players can collect and trade characters to create their dream team. Interestingly, the game is branded with the 2022 men’s World Cup, despite the 2023 women’s World Cup taking place this summer.
AI League is the first of many web 3 focused games FIFA plans to add to their portfolio. While FIFA's offerings have been more casual, with blockchain elements added, FIFA has hinted at a major new simulation football game title for 2024.
FIFA President Gianni Infantino is standing his ground when it comes to the future of FIFA video games. Despite recent setbacks, including the end of the partnership with EA Sports FC, Infantino remains confident that the FIFA brand will continue to dominate the industry. Last year, FIFA announced plans to develop a new simulation football game title for 2024, and Infantino recently teased that there will be news coming soon about the upcoming releases. "The new FIFA game will always be the best e-game for any girl or boy," he stated. Whether his bold statements are able to come to fruition remains to be seen, but given his past success it will be interesting to see how he can transition the FIFA brand into the Game-Fi industry.
Gamified experiences are one of the most effective means of introducing the general public to Web3 technology.
Games are excellent for drawing in people as they offer an enjoyable and immersive encounter that can be tailored to the user's interests and tastes.
For many years, games have been used to teach and educate people on various skills, concepts, and behaviors.
Soccer Star Rúben Dias Partners With OKX To Launch Metaverse Training Session
Cryptocurrency exchange OKX recently partnered with Portuguese soccer star Rúben Dias to launch an immersive metaverse experience called “Train Like Dias."
This partnership is part of their OKX Collective initiative, which is a metaverse environment that gives fans access to exclusive content from several Manchester City players such as Alex Greenwood, Ilkay Gündoğan, and Jack Grealish.
Through “Train Like Dias,” OKX lets football fans discover some of Rúben Dias’ most effective training techniques within the metaverse.
Fans will also be able to participate in contests and win prizes, such as passes to:
Team training sessions
Match tickets
Other exclusive rewards
Baron Davis and CasperPunks Partner to Bridge Digital Divide in Web3 for Sports and Lifestyle Communities
Baron Davis, the founder of Sports Lifestyle in Culture (SLiC), has partnered with CasperPunks to bridge the digital gap between fan communities, sports, and lifestyle groups in Web3. The partnership will expand the reach and relevance of the project, and expand the utility of CasperPunk IP by opening up dynamic-NFTs to new audiences.
As a significant team and system leader in revolutionizing how the NBA interacts with its players, Baron Davis will help build brand and event opportunities with CasperPunks. Together, they will make Web3 and dynamic-NFTs accessible to a broader audience who are looking to understand more about the industry before diving fully in. The partnership will also allow for the CasperPunks brand to collaborate with culturally relevant opportunities that were previously harder to engage or establish trust.
CasperPunks is the first Digital Collectible series with expanding utility, utilizing dynamic-NFTs on Casper Network. The goal of CasperPunks is to become a completely community-led initiative by 2024 and is open-sourcing its technology to drive innovation in the space.
The partnership between CasperPunks and Baron Davis will kick off during the NYC NFT, where he will host a special event during the conference week and give two CasperPunk holders the opportunity to attend and have an in-person experience with the former NBA and NY Knicks player.
SLiC is a digital platform, production company, and content studio that puts publishers and creators first. It aims to deliver the best content and collaborations for the culture.
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