300 FIT and Doth Sign MOU to Build a Web3 Sports League Ecosystem

23 Jan 2024
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300FIT, a sports blockchain company, announced on the 22nd that it has signed a business agreement with Doth, a web3.0-based CX design group, to form a web3.0 sports league ecosystem based on sports IP and strengthen competitiveness.

The agreement consists of cooperating in all fields such as digital sports players and platform development, starting with jointly planning a new web3.0 sports league ecosystem through IT technologies including blockchain to share various contents such as game records, game videos, and images of fans' favorite competitions, teams, and players.

With the development of blockchain technology in recent years, new attempts have been made to utilize it in the sports industry. However, the ecosystem of simply issuing and selling sports NFTs for collectors is already losing its power compared to its initial popularity, and the two companies plan to bring about many changes in the way fans communicate and engage with sports teams and players through this agreement.

"The web3 sports league ecosystem launched through this agreement will not only revolutionize the sports market, but also increase the economic value between participants and become a new model for all stakeholders, including athletes, fans, and sports companies, to interact and share benefits," said Lee Ju-yup, Director of Planning and Strategy at 300FIT.

"The development of the Web3 Sports League platform will clearly demonstrate the differentiated value that collaboration between the sports industry and Web3 media companies can bring," said Jae Eun Shin, CCO of Dots, who oversees content development. "It will provide the public with a more diverse and engaging sports experience that is not limited to watching sports."

Through the agreement, the two companies are developing a Web3 ecosystem platform for various domestic and international sports competitions and sports leagues, including baseball, table tennis, golf, and badminton, with plans to launch in the third quarter of this year.

Meanwhile, 300FIT has more than 70 domestic and international sports star IPs, and is leading the sports blockchain industry by creating Team Korea NFTs for the 2022 Beijing Winter Olympics, mascot NFTs for the 2023 Fukuoka World Aquatics Championships, and KOREA VICTORY NFTs, a digital figure edition of Korean Asian Games legends.