Web3 Studios reports LootMogul as one of the top sports metaverse

December 20, 2022 Jai

LootMogul is listed as one of the top sports metaverse projects. As researched by Web3 Studios and reported by VentureBeat, this vertical is expected to grow exponentially to $80 billion by 2030.

MUMBAI, India , Dec. 13, 2022 /PRNewswire/ — Web3 Studios (“w3s”) is an investment banking firm exclusively focused on companies building the open economy. Founded by Blackstone and McKinsey alumni; W3s mission is to establish institutional-grade financial services in the Web3 world.

“The metaverse itself is a huge opportunity for the world to add a new layer of human interaction to society. For sports specifically, it could create access points and virtual experiences for new audiences. This is not mutually exclusive with the joy of physical interaction of sports, but rather an extension that will allow for more inclusion across the industry.”

“ESports is the best showcase for this: following the increased demand in purely digital competitions, especially among the younger generations, the sector has experienced enormous growth. And while the sport is happening entirely online, fans still enjoy gathering in real-world stadiums and see their favourite teams play on the ground.”

“At the end of the day, none of this is about trying to replace the physical interactions needed to play soccer, tennis, or basketball: it is about extending the reach of those physical events and developing new forms of engagement for fans.” – Web3 Studio Report

The Web3 sports metaverse landscape

Kuntal Sampat – COO at LootMogul, shared how LootMogul is strategically positioned in the sports metaverse experience landscape and simplified approach to onboard web2 sports fanatics into Web3 community – “As a leader in Sports Centric metaverse created by athletes for athletes, LootMogul’s goal is to provide tools to both athletes and sports brands for engaging with fans in the most simplistic manner without the complexities of blockchain and wallets, while ensuring full transparency and accountability. Web 2.0 approach to onboard sports fans into Web 3.0 and metaverse economy athletes, brands, and tangible benefits is a key differentiator for LootMogul.“

LootMogul has currently signed up 201+ professional athletes as well as 16 sports leagues from NBA, WNBA, NFL, MLB, UFC, etc., under a multi-year contract. Additionally, LootMogul is in the process of onboarding 1.5M+ high-school and college athletes. LootMogul’s total reach through players is 80M+

In addition, Web Studios stated “We expect the economic value of the metaverse sports space to grow exponentially over the next 10 years. This is fueled by a rapidly growing consumer interest in new ways to engage with their favourite sports and teams, as well as sports stars’ positive attitudes toward new forms of monetizing their audiences. Big sports brands and investors recognize the potential that metaverse technologies bring to the areas of consumer engagement, retention, and monetization in sports and invest heavily in the space. While the metaverse sports space is still subject to high societal, legal, and technical uncertainty – we forecast the metaverse sports space may generate more than $80bn by 2030.”

About LootMogul

LootMogul is an athlete-led sports metaverse that is powered by virtual real estate, training academies, blockchain games, meta shops for athletes, and brands with in-real-life (IRL) rewards. In September 2022, LootMogul secured $200M in investment commitment from GEM

You can find more info on the company’s traction, company news, and community growth here: