#98 | Warner Bros Enters Arena of NFT Sport Collectibles

Estimated Read Time: 7 minutes

Hey friends,

Great to have you with us, on today’s edition we have a pretty great range of thought-provoking Web3 stories from IKEA’s blockchain car charging, Warner Brothers sporting NFTs, and chess competition NFT trophies. Let’s jump in!

Been a fairly uneventful week for crypto with both BTC and ETH struggling to hold their $27k and $1.8k lines respectively from the recent pumps. Nonetheless, they have managed to keep it fairly neutral and investors are hoping for a break out soon enough given the support on recent dips, as usual, we will have to sit back relax and just wait to see how these turbulent times play out.

Here at Morning NFTea we always like to keep you on your toes on what's possible from Web3, and in today’s effort to show the limitless potential of the blockchain, we have recent news from global furniture leader IKEA. The new initiative in question will use the blockchain to track the renewable energy that gets used for IKEA’s shopping center's electric vehicle charging ports.

Here at Morning NFTea we always like to keep you on your toes on what's possible from Web3, and in today’s effort to show the limitless potential of the blockchain, we have recent news from global furniture leader IKEA. The new initiative in question will use the blockchain to track the renewable energy that gets used for IKEA’s shopping center's electric vehicle charging ports.

In a partnership with ACCIONA Energia, IKEA will utilize the ACCIONA greenchain which allows clients to visualize in real-time the 100% renewable origin of the electricity supplied to them, with the complete reliability and security that the blockchain provides through its revolutionary digital ledgers. This concept of using the blockchain to trace and ensure the legitimacy of renewable energy is not a new concept and something we have even covered with respect to airlines in the recent JetBlue and Shell sustainable fuel deal.

Furniture store IKEA using the blockchain to ensure renewable electric car charging is probably not a sentence you would imagine when thinking about the Web3 metaverse, but this is yet another example of how Web3 continues to be innovated in and how the blockchain infrastructure provides real-world benefits that go past just speculative investing.

Warner Brothers need no introduction as the multi-national media goliath that has its hands in the cookie jar for all aspects of our modern media. However, they have recently introduced themselves into Web3 with previous Morning NFTeas coverage of their ambitious endeavors like the Warner Brothers NFT music platform, Warner Brothers NFT clothes, and Warner Brothers NFT movies. The next step for this century-old multi-billion dollar company has its sporting division (WBD Sports) launching NFT collectibles for its promoted sports allowing fans to have a new level of interaction with their favorite events and athletes.

This will be the first-ever NFT collection for WBD sports, which is a big deal considering they reach 130 million people every month across their various sporting platforms. It's these fans who can expect to get involved with NFT collections around WBD Sports promotions giving fans a chance to own and collect a piece of sporting history with a new level of engagement and interaction through exclusive benefits and utilities that have yet to be announced. Specifically, WBD Sports will be launching a security token portfolio featuring unique digital collectibles related to its sports disciplines, which also includes some assets developed by international artists.

In collaboration with NextHash which is a blockchain platform and financial services provider, this new upcoming initiative marks the start of a five-year partnership with WBD Sports. The duo has teamed up in an effort to help the sports events division expand its digital presence and leverage the rapidly growing world of Web3. It's getting a jump start on Web3 that a lot of brands like Warner Brothers have been drawn to recently, with these new digital sporting assets aiming “to increase the events’ popularity among different audiences and digital communities”.

Mainstream adoption of Web3 and NFTs is no-doubt a future that many of us believe and hope to see, but its these types of stories that are making it a reality with media goliaths like Warner Brothers choosing to expand yet another arm of their empire into this new age of technology, and onboarding their worldwide audiences at the same time.

The internet was pretty cool with its ability to connect large groups of people in ways that weren’t previously possible, but Web3 is set to take this to another level by opening up even more opportunities for people and the latest example comes from the Brazilian Inkluziva Chess Tournament. Physical trophies make sense in real-world scenarios, but what happens when you want an online nationwide chess tournament that has the same special non-fungible trophies and certificates? Well, the fintech firm Inkluziva seems to think NFTs are the answer, and it’s hard to see why not.

The online event in question is open to students “in the national education system” aged six and upwards where five national champions will be “virtually” crowned in November. Winners of the competition will receive a “personalized NFT” with a record of the last move of the match, but this Web3-ified event doesn’t stop there because organizers said they will also provide NFT participation certificates as well as NFT rewards for top-ranking regional players.

When it comes to competitions, especially at school ages, it’s hard to beat having that physical trophy proudly displayed in your room, which is why Inkluziva will also distribute physical trophies to some winners alongside their NFTs. Despite this, the idea of NFTs as a way to facilitate digital trophies is pretty thought-provoking considering the increasing amount of online held competitions. Considering the Non-Fungible-Tokens characteristics of finite digital ownership and provable history that help give you the same level of satisfaction and pride as their physical counterparts, it’s easy to see how this could catch on. So who knows? Maybe it’s just a bizarre chess competition today, that perhaps opens new doors for the esports world of the future.

Let’s talk about $PSYOP, which has dominated the news headlines over the weekend.

A memecoin created by “ben.eth”, creator of $BEN who eventually passed the project over to Ben Armstrong aka Bitboy, the $PSYOP token pre-sale relied on a “trust me bro” system in which Ben asked degens to send ETH on-chain directly to his wallet, accruing over 2000 ETH in the process… for zero upfront work or proof.

Here’s how the community at large reacted:

Huge thanks to Ben for making my work this week so much easier — the tweets above really sum up the ridiculousness of the space that we’re in and expose some of the greed of degens who never learn about get-rich-quick schemes.

Thanks for joining us today, we hope you enjoyed this specially curated edition and can’t wait to get the next one ready, take care!

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