As cryptocurrency and NFT prices suffered this spring, with some plunging 75%, Turner Sports continued to invest in the potential of blockchain. On Tuesday, the company announced a new partnership with Immutable X, making it Turner’s preferred platform partner as the media company develops more Ethereum-connected games and collectibles.
“We strongly believe that NFT-enabled play-to-earn games are a new category in gaming that has tremendous potential,” said Yang Adija, Turner Sports senior vice president for business operations, growth and development. digital league innovation, in a statement. “Immutable X has a proven track record and is a partner that can help us grow our portfolio with user-friendly technology that doesn’t hit users with exorbitant gas costs.”
Turner Sports launched one of the first NFT projects from a major sports publisher last spring, selling nearly $1 million worth of Open Run collectibles. More recently, the company launched Blocklete Golf, allowing users to purchase digital golfers and compete for currency prizes. Previously, Turner worked with structural partners on a per-project basis (Blocklete Golf, for example, is built on Flow, the same blockchain that hosts NBA Top Shot).
“As we talk to our league partners, we can have conversations with them more directly about what we can help bring to the table from a technical standpoint, from a blockchain standpoint, and that really helps us in the market,” Adija said in an interview. . “We’re hoping to attract this next non-NFT audience group, so we need the technology and at least the thought process to follow that path.”
Immutable X promises low transaction fees, the ability to handle thousands of transactions per second, and the ability to list NFTs across multiple marketplaces simultaneously. The platform also already supports a number of gaming projects.
“We are proud that our partnership with Turner Sports aligns with two premier organizations to expand the availability of compelling sports content and drive engagement across the Web3 ecosystem,” Immutable co-founder Robbie Ferguson said in a statement. communicated. “Their history of innovation at the intersection of sports and blockchain gaming is unrivalled, and we look forward to working together to power the next generation of sports content through our highly scalable, carbon-neutral and gas-free platform. “
Despite the price drop at the moment, Adija said, “Long term, we are still very optimistic in the space. We believe that blockchain technology and NFTs will be the cornerstone of where things are going.