Today's Web3 sports market's current output value accounts for a small proportion of the entire sports industry, and it is still a blue ocean track. Among them, the most innovative project is Hayya hayya. The platform token HYHY will be widely used in the platform ecology, with huge potential for appreciation. Hayya Hayya, the investment and incubation of William Technology Fund under the British online gaming giant William Hill, tries to use blockchain technology to combine the fan fission economy and the sports industry resources and experience accumulated by its own Web2 to change the club management model.
With the 2022 World Cup in Qatar looming, football is back in the spotlight for the crypto community. There is no doubt that football is recognized as the number one sport in the world today, with over 1.6 billion fans worldwide. The annual output value exceeds 500 billion US dollars, accounting for more than 40% of the entire sports output value.
Before the large-scale application of blockchain technology, joint-stock clubs were regarded as the optimal solution for modern football. Now Hayyahayya is trying to use blockchain technology and the sports industry resources and experience accumulated by its own Web2 to motivate and encourage fans to participate in sports club affairs, aiming to change the club management model. In the current Web3 sports track, the project value mainly comes from two aspects, clubs and superstars. The values of clubs and superstars are mutually reinforcing, and how to balance the relationship and interests of the two is one of the things that the project must consider.
It has been revealed that a number of clubs from England, France, Germany, Spain and Portugal have reached preliminary cooperation with Hayyahayya in terms of player agency. For signed players, NFTs will be issued for them. The commercial value of a player generally consists of two parts, one part comes from the team's daily wages, and the other part comes from derived income such as advertising and peripherals. With the rise of the fan economy, the derived income from advertising is even comparable to high salaries. While the peripherals bring huge benefits to the players, they also have the problem of piracy. NFT uses ERC-721 to solve the problem of piracy at the root, and players' related peripherals or NFTs will be assigned a special number, which can be traced back to the source. At the same time, fans can also avoid the problem of receiving pirated items.
Hayyahayya is an operation platform that assists team clubs to issue nft or Token. Through its traffic operation platform, it helps team clubs issue digital economy-related products, and a series of rules such as operation rights and circulation are controlled by the issuing team. Generally speaking, holding fans can vote on team celebration songs, jersey colors, enjoy exclusive promotions, and more.
However, in this model, the behavior of fans to buy Tokens is more inclined to spend money to buy voting rights, and the real major decisions and team returns still belong to shareholders. Perhaps, the Web3 sports industry needs a more interesting model to change the scene.
At present, in the Web3 world, the value of a large number of NFTs generally depends on the community, and it is more inclined to PFP or Meme in terms of use. The NFT issued by the platform belongs to the Pass category, with IRL rights attached. In addition, Hayyahayya's NFT can also record the user's thoughts and comments, and even manage the team's imagination and operation strategies and other information. Holding NFT not only enjoys the rights, but also obtains the additional functions of DID.
Fans also benefit from NFTs issued by the platform. Previously, as a fan, you could only buy printed materials such as signed jerseys, sneakers or posters. After spending a lot of money, the sense of participation did not improve. The players' commercial rights can be NFTized in the early stage, fans can accompany the growth of players, and fans enjoy the dividend rights and interests of the players' economy, which greatly improves the sense of participation of fans. At the same time, all purchased rights can be checked and stored permanently and safely on the chain, achieving the effect of inheritance from generation to generation.
Compared with the star card market, Hayyahayya's NFT will have more derivative gameplays, such as launching virtual reality sports games, forming teams based on the star NFT held by players, and competing. In 2020, sports games will have about 100 million active players worldwide, with a market value of about $19 billion, and is expected to grow to $48 billion in 2027, according to International Market Analysis. There is no doubt that this will be a blue ocean market.
The synthesis of nft fragments to create a traffic fan economy, signing stars and casting NFTs is the first step of Hayyahayya, launching a buying transaction market and establishing a complete ecology is the second step, and the ultimate goal is to create Club DAO, thereby changing the new paradigm of the traditional sports industry.
Club DAO is a sports club management system. At the same time, the realization of Club DAO also requires player brokerage and blockchain smart contracts as the basis. Club DAO will link the club end and the fan DAO end, and access cooperative brands, communities, etc. Fans who hold the token can participate in the management and operation of the club. Of course, the participation of every holder in management will inevitably lead to inefficiency. At present, the solution may be voted on according to the level or number of platform tokens held.
The birth of Club DAO may have historical inevitability. The early fans and players have a close relationship, and even the source of funds for the early club prototype is the money of the fans and players. Today, fans and players are too far apart, and platforms can change the way they interact. The imagination of Club DAO does not stop there. Ideally, Club DAO will cover the entire sports industry chain. In the early days, Club DAO will be responsible for finding rookies around the world and tokenizing them, allowing fans to invest in rookies. When the rookies have excellent performances in the game, they will also issue wonderful moment NFTs in the market.
In the later stage, the commercialization of clubs and stars can also be managed through Club DAO, so as to achieve true fan autonomy and organize operations in the form of DAO. In addition to a high degree of fan autonomy, all the team's profits are given to community members. All the revenue-generating value of the team, such as team game bonuses and some of the team's business performance revenue, will be classified as DAO organizations. In addition to the normal construction of the team, such as daily expenses, player wages, and the introduction and training of new players, the rest of the funds will be used for regular dividends of DAO members.
The economic model is to attract fan traffic through the front-end nft fragments, build an ecosystem by airdropping the platform token HYHY, create a global governance mining pool super data cloud to create a closed-loop model, and enable the upstream and downstream of the entire back-end sports industry chain to enable application scenarios.
With the World Cup approaching, Hayyahayya will also start taking the first step, using Web3 technology to break the traditional model of the sports industry and remove the wall between clubs and fans. As the core operating group of Hayyahayya with rich experience in traditional sports industry and strategic vision of Web3, it is gradually redefining the sports industry. From the earliest star discovery in the industry, to club management Club DAO and the realization of club business cooperation, Web3 exploration and transformation of the whole industry chain is bound to become a new trend in the sports industry, and HYHY will also become a portal giant under the new paradigm of the sports industry.