Amid fears of a crypto winter and economic slowdown, the crypto and NFT market has been hit hard. Did you too feel the jitters? What has been the impact on Yunometa’s project and performance? When can we expect recovery on a full swing?
Not really. In fact, we decided to double down on our projects and finetune our offerings for the crypto market. As with any growing technology, there have been ups and downs in the NFT and crypto market too.
Coupled with extraneous situations such as the war in Ukraine and sky-high inflation across the globe, it is natural for the industry to take a break and come back stronger. That has been our strategy.
Yunometa is launching its own sports metaverse this week. With upcoming events like the Fifa World Cup and ICC T-20 World Cup, the Sports metaverse is getting quite popular. Why have you and your team chosen Tennis and not any other sport?
Tennis has a global fan base and its popularity has risen tremendously over the past few years. From the rivalries between the Big Three (Nadal, Federer and Djokovic) to the iconic status of women players from the William sisters to our very own Sania Mirza, tennis has captured the imagination of the young audience like few other sports. This is backed by data that suggests that the biggest following among Grand Slams comes from the Indian subcontinent and SouthEast Asia.
Tennis has a whole fanbase in India, especially in the South, with players like Vijay Amritraj earlier and Leander Paes, Mahesh Bhupathi and Sania Mirza more recently, making the game popular. Events like the FIFA World Cup and ICC T-20 World Cup will always attract a loyal audience. We chose tennis to showcase our metaverse offering.
What are the key or salient features of this metaverse? How can one enter it and make most of it? Have you added any additional features?
With a selection of digital art; we aim to help monetize the digital identity with NFTs that are authentic collectibles. It provides the collectors with the trifecta of technology, people, and process. However, with Yunometa, artists can control various aspects of their NFTs such as configurations, blockchain pinning, analytics, user experience, APIs, integrations, custom terms and policies, and more.
As for the metaverse, it will have three sections that will be divided into a tennis court, an NFT museum for portraying the tourism and culture of Tamil Nadu and a virtual tour of the five most famous places with rich Tamil culture. The Chennai Open Metaverse will also have a tennis court where the visitors can choose their avatars and play a match.
With the virtual tour, tourists can visit famous tourist places in Tamil Nadu and experience its rich culture and heritage. The places are Fort St George, Meenakshi Temple, Mahabalipuram Temple, Vivekananda Rock Memorial Kanyakumari and Santhome – St Thomas Cathedral Basilica. The metaverse event will be available between September 10 and November 10.
Why did you choose the women’s metaverse and how is it different from the other metaverse? Can you please specify key points for people in general?
Ans: While the metaverse is still WIP for most industries and sports, we have gone ahead and created Asia’s first metaverse for women’s tennis alongside exclusive features. Apart from creating a unique digital world for people to experience Women’s Tennis, Yunometa is also supporting women’s empowerment by giving them an exclusive new stage to flourish and grow in the world of tennis.
Hosting a WTA tournament in Chennai in itself is a great milestone and we’re proud to be associated with the Chennai Open to create an entirely new experience for fans.
What are your plans in the days to come? What are your projections from this launch? Should we expect more projects akin to this in sports or other spaces in days to come?
We are very keen to drive the sports NFT movement in the country and we should be announcing an exclusive partnership soon. Besides this, we also have experience in working with clients to create personalized metaverse based on their needs that we are excited to be working on.
Yunometa is also working on blockchain-based solutions for various traditional industries, such as real estate to help digitise and track land records on the blockchain, that we are working on bringing to the Web3 space.
NFTs have been a bit out of flavour lately. Do you think innovative projects will rejuvenate the dull NFT space? What else can spark a new interest in NFTs among the investors?
NFTs are set to make a roaring comeback after the recent hiccup. Most people have now matured and realised the true value of NFTs, meaning not every hyped drop will get the same traction and eye-popping sales numbers anymore. Only when collectors find value in products will we see sales happening in the NFT ecosystem.
People need to find value in what they’re buying versus having an NFT for the sake of showing off. This means that unique and innovative projects will drive most of the new NFT drops. Sport NFTs, with their inherent connection to people’s hearts and fandom, is definitely one of the best ways of not just delivering value but also connecting with sports fans worldwide.