yunometa: Don’t get NFTs just to show off, look for value in it: Arijit Mukherjee, Yunometa
Amid fears of a crypto winter and economic downturn, the crypto and NFT market has been hit hard. Did you also feel the unrest? What has been the impact on Yunometa’s project and performance? When can we expect full recovery?
Not really. In fact, we decided to double our projects and fine-tune our offerings for the crypto market. As with any growing technology, there have also been ups and downs in the NFT and crypto market.
Together with foreign situations such as the war in Ukraine and soaring inflation across the globe, it is natural for the industry to take a break and come back stronger. That has been our strategy.
Yunometa is launching its own sports metaverse this week. With upcoming events like Fifa World Cup and ICC T-20 World Cup, the Sports metaverse is getting quite popular. Why have you and your team chosen tennis and not another sport?
Tennis has a global fan base and its popularity has increased tremendously in recent years. From the rivalry between the Big Three (Nadal, Federer and Djokovic) to the iconic status of female players from the William sisters to our very own Sania Mirza, tennis has captured the imagination of young audiences like few other sports. This is supported by data which suggests that the largest following among Grand Slams comes from the Indian subcontinent and Southeast Asia.
Tennis has quite a fan base in India, especially in the south, with players like Vijay Amritraj earlier and Leander Paes, Mahesh Bhupathi and Sania Mirza more recently making the game popular. Events like the FIFA World Cup and the ICC T-20 World Cup will always attract a loyal audience. We chose tennis to showcase our metaverse offering.
What are the most important or salient features of this metaverse? How can one go into it and get the most out of it? Have you added any additional features?
Featuring a selection of digital art; we aim to help monetize the digital identity with NFTs that are authentic collectibles. It gives collectors the trifecta of technology, people and process. But with Yunometa, artists can control various aspects of their NFTs, such as configurations, blockchain pinning, analytics, user experience, APIs, integrations, custom terms and policies, and more.
As for the metaverse, it will have three sections which will be divided into a tennis court, an NFT museum to depict the tourism and culture of Tamil Nadu and a virtual tour of the five most famous places of rich Tamil culture. Chennai Open Metaverse will also have a tennis court where visitors can choose their avatars and play a match.
With the virtual tour, tourists can visit famous tourist spots in Tamil Nadu and experience its rich culture and heritage. The places are Fort St George, Meenakshi Temple, Mahabalipuram Temple, Vivekananda Rock Memorial Kanyakumari and Santhome – St Thomas Cathedral Basilica. The Metaverse event will be available between September 10th and November 10th.
Why did you choose the women’s metaverse and how is it different from the other metaverse? Can you specify key points for people in general?
Answer: While the metaverse is still WIP for most industries and sports, we have gone ahead and created Asia’s first metaverse for women’s tennis along with exclusive features. In addition to creating a unique digital world where people can experience women’s tennis, Yunometa also supports women’s empowerment by giving them an exclusive new stage to flourish and grow in the world of tennis.
Hosting a WTA tournament in Chennai in itself is a huge milestone and we are proud to be associated with the Chennai Open to create a brand new experience for the fans.
What are your plans in the coming days? What are your projections from this launch? Should we expect more projects like this in sports or other spaces in the days to come?
We are very keen to drive the sports NFT movement in the country and we should announce an exclusive partnership soon. In addition to this, we also have experience working with clients to create personalized metaverse based on their needs which we are happy to work with.
Yunometa is also working on blockchain-based solutions for various traditional industries, such as real estate to help digitize and track land records on the blockchain, which we are working to bring to the Web3 space.
NFTs have been a bit out of style lately. Do you think innovative projects will rejuvenate the boring NFT space? What else could spark a new interest in NFTs among investors?
NFTs are set to make a roaring comeback after the recent hiccup. Most people have now matured and realized the true value of NFTs, which means that not all hyped drops will get the same traction and eye-popping sales numbers anymore. Only when collectors find value in products will we see sales happen in the NFT ecosystem.
People need to find value in what they buy versus having an NFT to show off. This means that unique and innovative projects will drive most of the new NFT drops. Sports NFTs, with their inherent connection to people’s hearts and fandom, are definitely one of the best ways to not only deliver value, but also connect with sports fans around the world.
