Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy. <br>Rather than watching a physical event, spectators watch competitors from different leagues or teams face off in the same games that are popular with at-home gamers, for example, Fortnite, League of Legends, Call of Duty, and more.<br>Goldman Sachs reports <sup>1</sup> monthly audience sizes, starting at 167 million in 2018 and rising to 276 million in 2022. This is bringing lucrative monetisation opportunities in areas such as media rights, IP ownership, in-game revenue and sponsorship. Though the largest audience is in Asia, it is still easy to find many Irish homes filled with gamers logging in. <br>There are even many NFT games that will allow a gamer to play to earn rewards (e.g. Axie Infinity). Add to all of this with the rush to develop tech for the Metaverse and the use cases for gaming there, it is appropriate to understand the legal challenges this industry may encounter. <br><strong>Terminology:</strong><br>With Metaverse hitting the virtual 'front pages', companies have been looking to launch brand collaborations with digital platforms, including within the gaming industry. Access to younger consumers is a very attractive prospect. <br>NFTs have been sold for $69.3 million for "Everydays: The First 5000 Days" by Beeple. Many brands have created their own collectibles, such as Disney, Nike, Adidas, and Coca-Cola. Luxury brands Gucci, Dolce & Gabbana, Ralph Lauren and Balenciaga, who have all launched NFT collections in the Metaverse. NBA Top Shots sold NFTs as short highlights of some of their most memorable games (e.g. LeBron James' slam-dunk).<br>Artists, musicians and online content creators are creating NFTs, to consumers or fans. The token can be a right to download the highlights of the game to a visual of their new artwork to VIP passes to their music concert. The token is a certificate, sitting on the blockchain, immutable.<br>By carefully mitigating the legal risks, the strength in a company's brand will continue to help attract new customers be they Metaverse users, customers or eSport gamers. <br><small>1 <a href="https://www.goldmansachs.com/insights/pages/infographics/e-sports/" target="_blank" rel="noopener">https://www.goldmansachs.com/insights/pages/infographics/e-sports/</a></small><br><em>The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.</em><br> <a class="footerBottomLink" href="/Copyright"> © Mondaq® Ltd 1994 - 2022. All Rights Reserved</a>. <br> <label class="image-replace cd-email" for="signin-email">Email</label> <input class="full-width has-padding has-border" id="signin-email" type="email" placeholder="Email" data-val="true" data-val-email="The Email field is not a valid e-mail address." data-val-required="The Email field is required." name="Email" value=""> <br> <label class="image-replace cd-password" for="signin-password">Password</label> <input class="full-width has-padding has-border clearable" id="signin-password" placeholder="Password" onmouseout="this.type='password'" type="password" data-val="true" data-val-required="The Password field is required." name="Password"> <div class="passwordnote">Passwords are Case Sensitive</div> <br><a href="/Account/ResetPassword?returnUrl=%2Fireland%2Ffin-tech%2F1191350%2Fbranding-esports-and-nfts-what39s-all-the-fuss">Forgot your password?</a><br>Free, unlimited access to more than half a million articles (one-article limit removed) from the diverse perspectives of 5,000 leading law, accountancy and advisory firms<br>Articles tailored to your interests and optional alerts about important changes<br>Receive priority invitations to relevant webinars and events<br>You’ll only need to do it once, and readership information is just for authors and is never sold to third parties.<br>We need this to enable us to match you with other users from the same organisation. It is also part of the information that we share to our content providers ("Contributors") who contribute Content for free for your use.<br><br><a href="https://www.mondaq.com/ireland/fin-tech/1191350/branding-esports-and-nfts-what39s-all-the-fuss">source</a>
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