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ATP Launches Digital Collectible Program 'Momentum' at 2024 Nitto ATP Finals
The ATP Tour (Tennis) have launched their third Web3 campaign; Momentum - data driven digital collectibles (Traces) that can be collected during the Nitto ATP Finals.
Pet Berisha
November 11, 2024
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ATP Launches Digital Collectible Program 'Momentum' at 2024 Nitto ATP Finals
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Sporting Crypto Newsletter is supported by The HBAR Foundation.
Discussed in this edition of Sporting Crypto:
Momentum š¾
a) Overview
b) User Journey
c) Statistics So FarAnalysis & Concluding Thoughts š§
a) NFTs are Dead. Right?
b) The Importance of Data
Momentum š¾
Momentum is an eight-day experience during the Nitto ATP Finals in Turin, where fans claim Traces: digital memorabilia, crafted from match data that generate unique pieces of artwork. Fans can collect a Trace from each of the 15 singles matches. Each Trace is free and time-limited, claimable exclusively during a 24-hour window on match day.
Momentum has been created in collaboration with Trace, a UK-based tech startup pioneering proof of fandom using blockchain, with official match data provided by Tennis Data Innovations (TDI).
Quotes š¬
Mark Epps, Director Web3 & Comms @ The ATP Tour:
āWe know that we need to know our fans better in order to deliver a better product and add more value to our partners. We see Web3 as a technology that allows us to reach that fan base digitally. There are a billion tennis fans around the world, and ~5 million come through our doors every year, so less than 1% physically come to our to our events. That is the challenge for us ā that, 99% ā how can we get to know them a little better?ā
Tareq Nazlawy, CEO & Co-Founder of Trace:
āWe're using NFTs for the first time as a gift that you can afford to give, and packaging that in a way which speaks to the hearts and minds of a fan. It has a function for every party in a multi sided network, which is the; The fan gets recognized, the sports rights holder gets to know who their fan is, and potentially a sponsor may want to sponsor this as a digital medium one day, would also be able to understand in a much more measurable way than they have been so farā
š Quick plugā¦ both Mark and Tareq appeared on Season 1 of the Sporting Crypto Podcast which you can watch here!
Momentum is the third Web3-based project the ATP have launched, with LOVE And POSTERS launching in the previous two years.
For Momentum, The ATP Tour and Trace are using blockchain Sui to verify the collectibles onchain.
The number of claims have been strong so far ā with over 40,000 Traces claimed from each match on the first day of the tournament, and over 30,000 Traces claimed from each match on the second day of the tournament (at the time of writing).
User Journey š±
The user journey, like the concept, is simple for fans.
Fans can sign up to the Trace ATP Portal via email or social credentials ā and are then directed to a home screen, and prompted to claim a āTournament Traceā. There is little information on the āTournament Traceā but it seemingly acts as a mothership for the rest of the Trace claims throughout the Nitto ATP Finals.
Fans are prompted to claim the Traces from each match, and when they shift to the āCollectionsā part of the user interface they can see the Traces they have collected. The collectibles populate (reveal) after a specific time period.
An example of the collectibles is this āJob Doneā Trace which was revealed shortly after claiming. This was a representation of the Sinner vs De Minaur match, which Sinner triumphed in.
āJob Doneā
Analysis & Concluding Thoughts š§
Whilst NFTs have bled and faded from a sales and transaction volume perspective in dollar terms, they are still popular ā and broadening their use case. This was always going to be the case. What many detractors fail to recognise is that NFTs are a token standard. Theyāre a technology. They make digital content ownable on the internet. Just like with blockchain, many have struggled to see the wood from the trees, and it will look obvious in retrospect, but what NFTs do 5 years from now compared to their earliest iterations will look completely different.
Thatās most definitely true when you bring a brand into the equation, and in particular with sports, a non-financialised set-up can have great benefit to multiple parties.
As Tareq puts it when referencing the ports Leadership Benchmark PTI report: