Press Release
Launchpool Labs Announce xG, a Play-to-Earn Sports Participation Experience
xG is building a new economy for grass-roots football - with plans to expand to multiple sports and launch an NFT marketplace. The play-to-earn experience for athletes and sports people, rewards in-real-life activities with composable dynamic NFTs and the xG utility token.
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The Sports NFT market is on the rise. Dapper Labs, developer of the NBA & NFLโs NFT collectibles products reportedly doubled their sales in the past 12 months (source).ย
Other marketplaces such as Candy Digital focusing on Major League Baseball NFTs have reached unicorn status, being valued at well over $1.5 billion.ย
.@CatyTedman, Head of Marketing & Partnerships at @dapperlabs, joins @Arda on ESPN's @SportsNation to talk all things NBA Top Shot ๐โ
โ NBA Top Shot growth
โ Future plans for the product
โ Looking ahead to WNBA/UFC space
โ Sports NFT landscape in 5 years pic.twitter.com/GwKROVlWqj— NBA Top Shot (@nbatopshot) March 13, 2021
Launchpool Labs, the community-centric incubator powered by Launchpool, is announcing that xG will be the latest addition to their portfolio as per a release shared with CryptoSlate.
xG and its Play-to-Earn sports participation NFT platform and marketplace is the next project to join the incubator, and raise pre-seed and seed with Launchpool Labs, with plans for a pre-IDO on Launchpool post-incubation. Launchpool Labs had previously incubated 9 other projects since its launch in August 2021, and raised over US $3 million from its community and partner VCs.ย ย
Roxana Nasoi, Managing Director at Launchpool Labs said:ย
โThe popularity of Sports NFTs show a clear desire from sports fans all over the world to be part of their favourite club or athleteโs history. xG changes the game for NFTs by rewarding grass-roots players and regular athletes to earn personalised NFTs for participating in their favourite sports. We are very excited to take part in xGโs journey of bringing NFTs to the masses, through their unique composable (dynamic) NFT model. Will the xG NFTs melt the hearts of our Launchpool Labs community? Weโre all eager to find out.โย
xG Studios founder, Jim Harrison, added โIโve worked for major sports organisations like Manchester City and the FA, and understand what a massive role sport plays as part of our identity and collective memory.ย
Weโve seen sports NFT collectibles explode over the past year – with products largely focused on big name stars and moments from games.
At xG weโre focusing on the grass-roots sports communities – and rewarding their real-world participation by unlocking new digital experiences enabled by web3. Itโs โPlay To Earn, but In Real Lifeโ.ย
Some of the features that make xG unique and solidify its spot in the Sports NFT space, include:
- A sports participation NFT platform that rewards real life sporting activity with tokens and NFTs based upon individual and team performances.ย
- NFTs and tokens can be traded on the xG marketplace as well as other secondary marketplaces, with plans to integrate APIs.ย ย
- While football is the primary use-case, the ambition is that the design of the product and marketplace can be reinterpreted for multiple sports (e.g. cricket, rugby, basketball).ย
- Running is being explored as a secondary sport with a bespoke product description.ย
- Composable NFTs contain an allocation of xG tokens depending upon the achievement.ย
- The NFTs are dynamic in the sense that they can be โmeltedโ to unlock fungible tokens, as a reward after every match.ย
- Real world sports data can be used in the product design, following a step-by-step process which includes: real world match data, team data, and reward drops in the form of NFTs and tokens.ย ย
- The xG reward drops include NFTs, tokens, and giveaways in the form of: metaverse-ready original xG merch, premier league match day experiences, early access to football boots, gaming perks such as skin upgrades and avatars, and many more.ย
About xGย
xG is a play-to-earn sports participation NFT platform and marketplace, powered by real world sports data and composable (dynamic) NFTs, building a new economy for multi-sports, from football to running, rugby, cricket, basketball, and more.ย
PR contact: [email protected]ย
Website: xgstudios.io
Twitter: twitter.com/Studios_xG
About Launchpool Labsย
Launchpool Labs is a chain agnostic community-centric incubator, powered by Launchpool, that offers incubation via a bespoke model, co-building the MVP and MVC (minimum viable community), as well as raising pre-seed / seed rounds.ย
PR contact: [email protected]ย
Website: launchpoollabs.xyz
Twitter: twitter.com/LaunchpoolLabs
