May 30, 2023

World Archery Unveils Virtual NFT Trophies

2 min read

Athletes competing in this year’s World Archery Championships will be eligible to win non-fungible token (NFT) trophies, according to a recent announcement made by World Archery.

The governing body for archery is looking to build exclusive non-fungible token (NFT) awards as part of a five-year partnership with Leverade, a firm that specializes in the collection of sports data and the application of blockchain technology.

The winners of this year’s Athlete of the Year rewards will be announced in December, and in response to an online public vote, they will each receive ten digital trophies.

The athlete of the year category, as well as the categories for recurve men, recurve women, compound men, compound women, Para men, and Para women, as well as special prizes for breakout performance, coach of the year, and judge of the year, are all up for grabs.

Tom Dielen, the secretary general of World Archery, shared the following statement: “As part of this new innovative cooperation with Leverade, we are pushing our annual awards farther into the digital future.”

“It’s another chance to honor our exceptional athletes, both those who are competing now and those who have competed in the past, while also embracing cutting-edge technology that will enable them to share their accolades with fans and potentially add real value to our sport.”

NFTs, also known as non-fungible tokens, are digital records stored on a blockchain that can be utilized to determine who the owner of a physical or digital property is.

Athletes, once they have been awarded the NFT trophy, are given the opportunity to sell portions of the NFTs by means of a specialized market place.

“This relationship between Leverade and World Archery is a crucial step towards the future of the sport,” said Antonio Romero, the chief executive officer of Leverade. “World Archery” is an acronym for the World Archery Federation.

“We are happy to be the technological partner of World Archery and to distribute digital awards in NFT format to its athletes,” the company stated on its website.

During the awards ceremony, World Archery will also be announcing the first two people to be inducted into its brand new Hall of Fame.

The World Baseball Softball Confederation (WBSC) and Leverade entered into a partnership at the beginning of this month as part of an agreement for a period of two years. As part of this agreement, winners of the Baseball5 World Cup and the WBSC Virtual Cup will receive digital medals and trophies in the form of an NFT, in addition to the traditional prizes they have previously received.

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