The Hype Is Real

Welcome to The Hype Is Real where we break down the latest news, stories & happenings around sports, business & web3.

Here's what you need to know this week:

• The New England Patriots formed a blockchain partnership

• LootMogul x HoopCulture in the digital world

• Microsoft’s cloud x NBA unveils new app

• Sports focused augmented reality startup raises $4 Million

Let's dive into it...

New England Patriots strike collaboration with Web3 firm Chain

The New England Patriots have announced a new sponsorship collaboration with the Web3 software solutions company, Chain.

The company will serve as the team’s official blockchain & Web3 sponsor.

This new contract covers the following teams under the Kraft Sports + Entertainment umbrella:

• The Patriots

• The New England Revolution

• Gillette Stadium

• Patriot Place

Why does this matter?

Kraft Sports + Entertainment (owner Robert Kraft) has always been ahead of the curve when it comes to innovation & technology.

Look for other teams to follow suit in the web3 space & establish similar partnerships to explore different product offerings & services for their fans.

Lootmogul, Sports Metaverse Secure First Naming Rights Deal for Digital Properties in Virtual World

Sports Metaverse creator LootMogul has reached its first naming rights deal for digital properties in its virtual world. 

Hoop Culture, basketball accessories & lifestyle apparel brand is the new titular partner of the Metaverse Arena in Orlando. It will also create five retail/experiential stores in five arenas throughout the Sports Metaverse developed by LootMogul.

LootMogul, which bills itself as an athlete-led Web3 platform, recently received a $200 million investment from the Global Emerging Markets Group.

Basketball Hall of Famer Lisa Leslie is one of the company’s athlete ambassadors, along with retired NBA players Rick Barry, Carlos Boozer, Mario Chalmers, Michael Cooper & Gheorghe Muresan.

Why does this matter?

For one, brands are starting to look toward the metaverse as a way to diversify revenue streams & deepen the connection they have with consumers.

Looking at the LootMogul ambassadors - I'm optimistic that we'll see more athletes exploring partnerships with other companies that are metaverse-focused as well.

Microsoft’s cloud, NBA unveils new app

The NBA took its partnership with Microsoft to a new level as it unveiled a redesigned app on Tuesday.

The new app has content recommendation & personalization features “powered by Microsoft Azure & Azure AI,” according to a news release.

The app will have live streaming of games for NBA League Pass subscribers with higher video quality & lower streaming latency, according to the league. It also includes access to hundreds of past games from the “NBA vault,” as well as other video content. There is a new membership program called NBA ID.

The partnership with Microsoft, first announced in 2020, “will help us redefine the way our fans experience NBA basketball,” NBA Commissioner Adam Silver said at the time.

Microsoft is the league’s official cloud & AI partner. Last year the two organizations unveiled NBA CourtOptix Powered by Microsoft Azure, which uses Microsoft’s artificial intelligence & machine learning technology to track & analyze action on the court & turn it into videos about how well players perform in various situations & how that data stacks up against league averages.

Microsoft’s cloud arm continues to power its overall business. The company said Microsoft Cloud revenue grew to $25 billion, up 28% year-over-year, in its most recent quarterly financial report.

Why does this matter?

The NBA with Adam Silver's leadership is constantly finding new ways to incorporate new technology within their infrastruture. 

I believe AI will play a huge part in fans being able to personalize content & follow their favorite teams & players.

Fabric Raises $4 Million

Fabric, a platform to help organizers augment sports experiences, announced Thursday that it has raised $4 million.

The company rolled out some of the tech at the NBA Summer League, & it will also be applied for the duration of the NBA exhibition games between the Atlanta Hawks & Milwaukee Bucks in Abu Dhabi.

Fabric-powered apps can encourage fans to hold their phones up & interact with content material tied to the location from precisely exactly where it was posted. The platform also has the capability to measure user locations.

Other concepts incorporate items like polls, trivia, scavenger hunts, wayfinding details, video highlights, & so forth. In the company’s lingo, Fabric builds digital assets—known as “fabs”— & “spaces” in the most effective of physical locations, with eyes on augmenting experiences inside venues, but also in the other areas precisely exactly where fans congregate & reside.

Why does this matter?

Some sports organizations initially fought against the incursion of cell phones, but now most are now looking for ways to integrate & monetize mobile tech into their offerings.

Fabric’s applications incorporate items like AR elements (such as digital scratch cards that reveal rewards for fans who find them) but the company is also focused on the location element, or what they call a “geospatial online platform.”

Additional Resources & Readings:

Thanks for reading & have a great Sunday!

Also, sending many thoughts & prayers to everyone impacted by Hurricane Ian in Florida. 

Until next week,

Malcolm