New kid on the sports NFT block, Eterlast, has just raised €4.5 million to launch out of stealth mode. With roots in London and Barcelona, the startup is aiming to create a new way for fans to engage with sports, teams and players through NFTs, blockchain games and immersive experiences.
Sport is one of the world’s most lucrative community-driven industries. It’s a sector that is inherently about bringing people together, and there is an entire industry at work connecting inspiring sports stars with their fans – doing so to promote sports, grow fan communities, and give teams revenues.
Whilst the thrill of attending a live sports event will probably never be replaced, there is a massively growing market for Web3 gaming and Web3 sports, and it’s only the beginning. Sports NFTs alone are predicted to have grown by 60% by the end of this year and in a decade, it’s thought that the NFT sports collector market will reach $92 million.
In this context, Eterlast, a startup aiming to pioneer the evolution of sports entertainment, has launched out of stealth with new funding. The startup, which is based between London and Barcelona, has secured about €4.5 million from some of the biggest names in gaming, Web3 and the digital content ecosystem:
- The funding was led by Supernode Global
- Additional participants:
- Play Ventures
- Active Partners
- Founders Factory
- Stake Capital
- Immutable X
Oli Strong of Supernode Global: “We are incredibly excited to be leading Eterlast’s Seed round. The team have done a fantastic job to date, securing impressive partnerships and IP to integrate with their platform. In our view, there is a huge opportunity at the intersection of Sport and Web3 and Eterlast are uniquely positioned to capitalise on this. This is a pivotal point for the company and we’re delighted to be participating alongside so many other specialist investors.”
Evolution of sports entertainment
Founded by Joan Roure, Eterlast aims to bring sports and entertainment communities into the metaverse, by partnering with world-leading sporting organisations. The startup has begun strong, working with two of the world’s largest sports: boxing and rugby.
Eterlast wants to reimagine how we consume sports entertainment by designing and developing digital collectables, blockchain games and real-world experiences that allow consumers to engage and be rewarded for their fandom.
It takes NFTs from a single-purchase journey to an interactive experience where fans can use digital collectables as in-game assets for an immersive gaming experience that unlocks real-world rewards. It’s a fresh approach for fans to become more involved with their favourite teams and sports personalities, and it democratises digital property rights to the world’s fans and gamers.
Joan Roure, CEO and founder of Eterlast, said: “We are embarked on a mission, building the bridge for the next billion fans to enter Web3. We are targeting to consolidate global fragmented sports that tap into hundreds of millions of fans that enjoy their sport on a regular basis. We understand NFTs not as a product, but as a technology that enhances the experience of current use cases around gaming, collecting, and experiencing live events. With that view, we are building holistic ecosystems that bring those three elements together.”
Already, the company, which is a Founders Factory spinout, has secured a partnership with Queensberry Promotions, the leading boxing promoter, obtaining the largest boxing archive of fights, featuring Mike Tyson, Tyson Fury, Ricky Hatton, among others. Eterlast is currently working to bring over half a dozen different global sports IPs to the web3 space in the upcoming months.
This new funding will see Eterlast focussed on acquiring users and growing brand partnerships.
Eterlast is powered by Immutable X, a scaling solution that is built with StarkWare’s industry-defining zero-knowledge proof technology. The Layer 2 solution will ensure these assets remain in a decentralised ecosystem, are secured by Ethereum’s battle-tested security, and are tradable on all marketplaces which support Immutable X. This partnership allows renowned sports brands to seamlessly utilise gasless and carbon-neutral NFTs to expand their digital reach and monetise vast libraries of content by creating digital assets for fans, without compromising on brand protection.
