XG IS THE NEXT PROJECT IN LAUNCHPOOL LABS PORTFOLIO
xG is building a new economy for grassroots football with plans to expand to more sports and launch the NFT marketplace. A Play-to-Earn experience for athletes and sports enthusiasts with exciting rewards in NFT and xG utility tokens.
The NFT sports market is still going strong. Dapper Labs , the developer of NBA & NFL's NFT collectibles, has reported their sales have doubled in the past 12 months ( source ).
Other marketplaces like Candy Digital, which are mainly focused on Major League Baseball's NFT, have reached "unicorn status" when valued at more than $1.5 billion.
Launchpool Labs, the community-centric incubator built by Launchpool, also announced that xG will be adding a new unit to their portfolio according to an article shared with CryptoSlate.
xG and their Play-to-Earn sports NFT platform will be the next project to enter the incubator, and also the project to enter a pre-seed and seed round with Launchpool Labs. Launchpool Labs has previously incubated nine other projects since launching in August 2021 and raised over $3 million from its community and partner VCs.
Roxana Nasoi, Launchpool Labs CEO said: “The popularity of sports NFTs shows the clear desire of sports fans around the world to be a part of the club's history. or their favorite athlete. xG changed the game by rewarding regular players and athletes to earn personalized NFTs for participating in their favorite sports. We are excited to be part of the journey to bring NFT to the masses through their unique NFT model. Will xG NFT melt the hearts of the Launchpool Labs community? We are all very excited.”
xG Studios founder Jim Harrison added: “I have worked for major sporting organizations such as Manchester City and the FA and understand the huge role sport plays as a part of identity and memory. our collective.
We've seen sports NFT collections explode over the past year – with products primarily focused on big names and moments from the game.
At xG, they're focusing on grassroots sports communities – and rewarding their real-world engagement by unlocking new web3-enabled digital experiences. It is “Play-to-Earn, but in real life”.
Several features make xG unique and strengthen their place in Sport NFT, including:
A sports NFT platform that rewards real-life sports performance with tokens and NFTs based on individual and team performance.
NFTs and tokens can be traded on the xG marketplace as well as other secondary markets with the API integration plan.
While football is the primary use case, the project's ambition is to design products and marketplaces for multiple sports (e.g. cricket, rugby, basketball).
The NFT contains a certain allocation of xG tokens depending on the user's performance.
NFTs are dynamic in the sense that they can be “melted down” to unlock fungible tokens, as a post-match reward.
Real-world sports data can be used in product design, following a step-by-step process that includes: real-world match data, team data, and rewards in the form of NFTs and tokens.
xG rewards include NFTs, tokens and giveaways in the form of: metaverse-ready original xG, premier league match day experience, early access to soccer shoes, gaming perks like skin upgrades and avatar…
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