Launchpool Labs Announce xG, a Play-to-Earn Sports Participation Experience
xG is building a new economy for grass-roots football — with plans to expand to multiple sports and launch an NFT marketplace. The play-to-earn experience for athletes and sports people, rewards in-real-life activities with composable dynamic NFTs and the xG utility token.
The Sports NFT market is on the rise. Dapper Labs, developer of the NBA & NFL’s NFT collectibles products reportedly doubled their sales in the past 12 months (source).
Other marketplaces such as Candy Digital focusing on Major League Baseball NFTs have reached unicorn status, being valued at well over $1.5 billion.
Launchpool Labs, the community-centric incubator powered by Launchpool, is announcing that xG will be the latest addition to their portfolio as per a release shared with CryptoSlate.
xG and its Play-to-Earn sports participation NFT platform and marketplace is the next project to join the incubator, and raise pre-seed and seed with Launchpool Labs, with plans for a pre-IDO on Launchpool post-incubation. Launchpool Labs had previously incubated 9 other projects since its launch in August 2021, and raised over US $3 million from its community and partner VCs.
“The popularity of Sports NFTs show a clear desire from sports fans all over the world to be part of their favourite club or athlete’s history. xG changes the game for NFTs by rewarding grass-roots players and regular athletes to earn personalised NFTs for participating in their favourite sports. We are very excited to take part in xG’s journey of bringing NFTs to the masses, through their unique composable (dynamic) NFT model. Will the xG NFTs melt the hearts of our Launchpool Labs community? We’re all eager to find out.”, said Roxana Nasoi, Managing Director at Launchpool Labs.
xG Studios founder, Jim Harrison, added “I’ve worked for major sports organisations like Manchester City and the FA, and understand what a massive role sport plays as part of our identity and collective memory.
We’ve seen sports NFT collectibles explode over the past year — with products largely focused on big name stars and moments from games.
At xG we’re focusing on the grass-roots sports communities — and rewarding their real-world participation by unlocking new digital experiences enabled by web3. It’s ‘Play To Earn, but In Real Life’.
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