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World Archery has announced that athletes will receive non-fungible token (NFT) trophies during this year’s virtual World Archery awards.
As part of a five-year deal with LEVERADE, a company that specialises in sports data and blockchain technology, the governing body is seeking to develop exclusive NFT trophies for archery.
Ten digital awards will be presented to winners of this year’s Athlete of the Year prizes in December, following an online public vote.
Prizes are up for grabs in the athlete of the year category, categories for recurve men, recurve women, compound men, compound women, Para men and Para women, and special awards for breakout performance, coach and judge of the year.
World Archery secretary general Tom Dielen said: “We’re pushing our annual awards into the digital future as part of this new innovative partnership with LEVERADE.
“It’s another opportunity to celebrate our talented athletes – present and past – while embracing cutting-edge technology that will allow them to share their awards with fans and potentially bring real value to our sport.”
We’re excited to partner with World Archery, the international federation for the sport of #archery 🏹. @worldarchery will deliver official trophies #NFT minted by the Federation, with a certificate of authenticity and ownership recorded in the #blockchain forever.
🏹🚀 https://t.co/oyZ5KmcdoF
NFTs are digital blockchain records that can be used to trace the ownership of a physical or virtual file.
After they receive the NFT trophies, athletes then have the option to sell parts of the NFTs through a bespoke marketplace.
“This partnership between LEVERADE and World Archery is a significant step towards the future of the sport,” said LEVERADE chief executive Antonio Romero.
“We are proud to be the technological partner of World Archery and deliver digital trophies in NFT format to its athletes.”
World Archery is also set to announce its first two inductees to its new Hall of Fame during the awards.
Last month, LEVERADE partnered with the World Baseball Softball Confederation (WBSC) as part of a two-year agreement that is set to see winners of the Baseball5 World Cup and WBSC Virtual Cup receive digital medals and trophies in an NFT format, alongside traditional prizes.
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Neil Shefferd is a Desk Editor with insidethegames.biz. He has previously worked as a reporter for a host of newspapers in Buckinghamshire, and presented a show called The Sports Breakfast while at the University of Bedfordshire.
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Even during the worst times of the COVID-19 pandemic, insidethegames.biz maintained its high standard of reporting on all the news from around the globe on a daily basis. We were the first publication in the world to signal the threat that the Olympic Movement faced from the coronavirus and have provided unparalleled coverage of the pandemic since.
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Every contribution, however big or small, will help maintain and improve our worldwide coverage in the year ahead. Our small and dedicated team were extremely busy last year covering the re-arranged Olympic and Paralympic Games in Tokyo, an unprecedented logistical challenge that stretched our tight resources to the limit.
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Unlike many others, insidethegames.biz is available for everyone to read, regardless of what they can afford to pay. We do this because we believe that sport belongs to everybody, and everybody should be able to read information regardless of their financial situation. While others try to benefit financially from information, we are committed to sharing it with as many people as possible. The greater the number of people that can keep up to date with global events, and understand their impact, the more sport will be forced to be transparent.
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