Sony is the most recent company to make a bold move into the blockchain industry. Sony is currently making inroads into the sports metaverse.
The company recently completed the acquisition of Beyond Sports, a 3D imaging and animation business with the technology to transform actual data from a sporting event into a metaverse representation. The acquisition price was not disclosed, but according to Nikkei estimates, it could be as high as $70 million.
This acquisition will allow the company to create real-time content related to basketball, baseball, tennis, and football matches using technology from Hawk-Eye Innovations, another company owned by the conglomerate.
Organizations such as the National Football League (NFL) and the National Hockey League (NHL) have used Hawk-Eye Innovations technology, which was acquired by Sony in 2011.
With this acquisition, Sony may be able to create a digital, accurate representation of a field or court, complete with realistic ball and player movement. Sony may acquire another business that can fill the distribution gap and provide audiences with these experiences.
Pulselive, which operates several websites for sports teams and organizations, would be able to integrate these metaverse experiences on these websites, opening up a new revenue stream and attempting to spread the word about this innovative approach to sports.
Sony may also be able to provide metaverse matches through the distribution of its Playstation console line. Playstation VR 2, the virtual reality (VR) headset that the company is creating specifically for its console and will be available in February 2023, could be used to enjoy these metaverse experiences in an immersive manner.
Sony has already dabbled in the metaverse and NFT (non-fungible token) technology by filing a number of patents to use non-fungible tokens (NFTs) to track the ownership and history of in-game assets.
Sony’s CEO, Kenichiro Yoshida, had previously stated that the company’s “first priority is to create a metaverse around entertainment” using its resources.
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