Web3 empowers developers, artists, entrepreneurs, musicians, and sports enthusiasts by redefining traditional fan engagement through the power of blockchain technology and digital assets. However, one major challenge is the need for more effective user engagement and utility. Discover how Unique has tackled this issue and made a mark in the sports industry in a one-of-a-kind Indy500 Digital Insider Pass case study.

The sports and entertainment industry is changing beyond our eyes. Traditional media and advertising are no longer providing benefits to fans, and more and more sports franchises, entertainment groups, sports, and athletes are leaning towards leveraging Web3 technology to better engage with their audience and fans.

Gone are the days of boring, traditional set-ups and engagement strategies. Through digital assets such as NFTs, Metaverse experiences, and token-gated rewards, Web3 presents an opportunity to revolutionize fan loyalty.

In this article, we’ll cover:

  • How Web3 is Revolutionising Fan Engagement
  • Why Web3 sometimes lacks proper user engagement & utility
  • How Unique's Sports Digital Insider Pass Captivated the Indy 500

Keywords: Fan Engagement, Digital Assets, Fan Loyalty, Web3, Web3 Gaming; Non-Fungible Tokens; NFT; Crypto; Ethereum; Decentralized; Unique Network; Network; Chain; Blockchain…

Let’s dive in!

How Web3 is Revolutionising Fan Engagement

Fan Engagement is no new concept. We often think of traditional fan engagement in CDs, email loyalty programs, FSFC (First-Come-First-Serve) exclusive fan deals, personal videos and merch to fans and even utilizing television and advertisements in magazines and papers to reach different audiences.

In today’s ever-changing world, the introduction of Web3 technologies, blockchain, and digital assets is revolutionizing how we think about fan engagement.

What Web3 offers that Web2 can’t…

  • Decentralized Control & Transparency
  • True Ownership of digital assets
  • Elevated Community Engagement
  • Governance models
  • Metaverse & Augmented Reality
  • Smart Contracts & DAO’s

To further understand how Fan Engagement works in the digital landscape, we can leverage digital assets (e.g. NFTs) as commemorative tickets, insider passes, access to exclusive content & merch, or even discount codes for future gigs, concerts, or sports matches.

Digital assets demonstrate success by:

  1. acting as a digitally scarce item
  2. possessing authenticity
  3. ensuring transparency
  4. facilitating easy distribution among fans

Digital assets provide an easy way to verify legitimate fans through a public ledger (like the blockchain) making it a reliable method for building a base of die-hard fans.

Gamified digital assets such as Customizable NFTs, Nested NFTs, and Dynamic NFTs are just a few ways of truly offering a unique experience for individual fans.

  • Customizable NFTs: Enables sports franchises to customize digital assets on-chain by equipping other NFTs and creating an on-chain connection between them.
    • Example: A football club like Real Madrid, could offer customizable player cards as NFTs. Fans can equip these cards with digital memorabilia like autographed balls or merch.
  • Nested NFTs: Enables the creation of bundles, allowing one NFT to own other NFTs. The base NFT can provide access to additional, nested content over time or based on certain conditions.
    • Example: A basketball team could release a base NFT that grants access to a series of nested NFTs, including game highlights, behind-the-scenes footage, and exclusive team interviews!
  • Dynamic NFTs: Changes over time, based on pre-set rules, and ranges from digital sticker albums to e-gaming rewards, concert tickets, points systems, etc.
    • Example: A music artist could create dynamic concert ticket NFTs that evolve based on the holder's interactions. For instance, attending multiple concerts or engaging with the artist's social media could unlock exclusive backstage passes.

The Principles of Fan Engagement in Web3

The sports industry forms the basis of fan engagement and plays a crucial role in everyday lives, estimated at $159 billion in annual revenue!

The old, traditional model worked for some time, but as we strive towards a decentralized, tech-focused open world, we need new revenue streams, strengthened communities, and easy-to-use tools.

When we apply fan engagement to Web3, we can think of them as:

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Examples of Fan Engagement

Achieving a successful fan engagement comes with a plan of action, with 3 crucial elements: personalization, interactivity, and ownership.

Personalization helps fans feel heard and seen, giving them a voice to stand out among the crowd. Unique Network understands this by offering multiple NFT types for better user engagement, creating a more personal connection between fans and artists.

  • Example: Music Moon seamlessly achieves this by providing indie artists a platform where they can feel like their music is their own, adding on top of the utility of fan tokens.

Interactivity keeps fans engaged with a twist. wowTalkies, for instance, brings fan engagement to the movie and cinema industry through interactive experiences.

  • Example: DEDMine by DED Games introduces blockchain under the hood in their brick-breaking game, enabling players to collect ecosystem puzzle pieces. Once the puzzle is complete, a digital asset is issued to the player.

By using NFTs, fans can participate in virtual events, complete challenges, and earn rewards.

Ownership ensures that fans truly own their assets. Blockchain and decentralization empower fans and creators alike by eliminating intermediaries and allowing true ownership of digital assets.

Web3 Fan Engagement Has Just One Problem…

… the proper engagement and usability are a bit lackluster. There are several hurdles ahead that we face when it comes to truly adopting Web3 models in the sports and entertainment industries. Two of the biggest challenges are:

  1. Easy-to-use Solutions
  2. Lack of Utility and Conceptual Ideas

Web3 is already complex enough with its abstract technology, lack of visionaries, and odd terminology. Simply building an easy-to-use solution or platform is a big step in the right direction to acquiring users, where fans can plug in & play and seamlessly earn rewards.

To appeal to the masses, the initial step is to design solutions that are simple and user-friendly.

We know from user onboarding that barriers to entry by utilizing centralized platforms or services can inhibit one from joining Web3, thus, posing a problem for increasing fan engagement.

Missed opportunities such as Kraken, a US-based exchange, partnered with the Formula 1 team, Williams Racing to display NFTs on their race cars in an NFT contest. The only slight problem was that users participating in this event needed to list their NFTs on Kraken’s dedicated marketplace if they wanted to participate.

In a way, this introduced old, traditional models of fan engagement by having the user create accounts, and go through sign-up processes instead of using a 3-step process to claim an NFT.

Along with Kraken, we’ve witnessed OKX take a similar approach when they partnered with Formula 1 team, McLaren Racing to launch a series of McLaren-themed NFTs. Users could participate in their mint contest, but first needed to download their wallet and create an account on the OKX platform if they wanted to participate – causing some barriers to entry for non-crypto users looking to delve into the Web3 landscape.

We can also see additional problems with fan engagement, such as:

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How Unique’s Digital Insider Pass Captivated Fans at the Indy500

The Indy500, one of the largest motorsport events in the United States, took place on May 26, 2024. Thousands of fans gathered, united by their love for racing, while millions more watched worldwide. What better way to enhance fan engagement than with a Conor Daly Insider Pass?

The Conor Daly Insider Pass focused on:

  • Onboarding non-crypto natives to a world of Web3 and Blockchain – all under the hood.
  • Promoting user adoption.
  • Bringing fans closer to their favorite racer.
  • Elevating the fan loyalty experience with a seamless 3-step onboarding process.

The Conor Daly Insider Pass enabled fans to access personal experiences, prizes, insider news, and participate in a raffle.

image5.png

Website: https://www.conordalypolkadot.net

Unique aimed to revolutionize the way sports enthusiasts and non-crypto natives experience Web3 through the power of digital assets, focusing on seamlessly bridging Web2 users to the Web3 world.

The Core Mission: To make digital assets accessible to everyone, breaking down barriers with little to no friction.

Conclusion

The sports and entertainment industry is changing rapidly, adapting to a world where fans want to feel more connected to their role models. Web2's traditional engagement methods, such as television and email newsletters, are being replaced by Web3's decentralized solutions.

Now, with the power of blockchain and Web3, that is all set to change. Unique Network is at the forefront of this revolution, leveraging Web3 technology to enhance fan engagement and build lasting relationships.

References

Note: All comments, thoughts, and opinions expressed are solely those of the writer and are not intended to influence anyone's thoughts or feelings.

Join the Unique Ecosystem!

Unique Network is the number one next-generation NFT chain for Polkadot and Kusama, bridging the gap between Web2 and Web3 by giving you all the necessary tools and platforms to achieve your dreams as easily as possible.

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Learn more about the dApps and projects actively using Unique Network today:

Project dApp

Description

Visit Page

Conor Daly Insider Pass

A unique Digital Insider Pass to promote Fan Engagement in Web3 and bridge non-crypto natives to the Web3 world.

www.conordalypolkadot.net

Sovereign Nature Initiative

One-of-a-kind Proof of Attendance Badge on the Blockchain, that evolves over time into an exclusive DOTphin NFT.

www.sovereignnature.com

DED Games

A brick-breaking game, showcasing NFTs to gamers as they try to complete challenges and reach the leaderboards.

www.ded.games

Forever Has Fallen

Bringing Bounty Hunter Tickets as NFTs to gamers, unlocking challenges, riddles, and an exclusive lair to those who seek.

www.foreverhasfallen.com

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