Magic Johnson has become the latest NBA legend to jump on the metaverse bandwagon after purchasing metaverse-based soccer and basketball teams in SimWin Sports.
Earvin “Magic” Johnson announced Thursday the purchase of metaverse sports teams on SimWin Sports becoming the latest NBA legend to dabble in Web3.
I am excited to announce that I’ve joined @simwinsports as an Investor, Owner of both a football and basketball franchise, and Advisor! https://t.co/tVoz4FZnWi“Magic”-Johnson-Acquires-Sports-Metaverse-Teams-Joining-SimWin-Sports-As-An-Owner-Investor-and-Advisor pic.twitter.com/9nsBNypSSn
— Earvin Magic Johnson (@MagicJohnson) June 16, 2022
The former Los Angeles Lakers point guard has purchased soccer and basketball teams on the world’s leading digital sports league.
What is SimWin Sports?
SimWin Sports is the first professional sports league where teams are owned by sports legends, celebrities and investors. The investment gave him ownership of the franchise, topping a list of Hall of Fame owners in the organization.
The SimWin Sports league allows virtual teams and athletes to compete 24/7, year-round to fuel on-demand fantasy sports contests. According to the announcement, Johnson will also serve as an advisor to the organization.
Fans of the sports leagues hosted on the platform can participate by purchasing training, trading and selling virtual players. The platform is based on Web3, the technology referred to as the next iteration of the Internet.
Fans can use multiple channels on the platform to earn revenue, including leveraging multiple league revenue streams, earning salaries, performance bonuses, fantasy sports and secondary market revenue.
SimWin Sports has also announced its first NFT Drop virtual athlete in the coming months, which will give fans the opportunity to own a piece of digital sports history in the franchise.
Commenting on his new investment, Johnson praised SimWin Sports as one of the best-run sports franchises in an exciting new business sector.
“This multi-billion dollar business is about to take off and SimWin’s model is a great way for sports fans to participate in this innovative opportunity. I look forward to contributing to its growth and success.” Get ready for the NFT Draft’s inaugural class of players coming soon. I may draft one of their players for my team,” he added.
This multi-billion-dollar business is about to take off and the SimWin model is an excellent way for sports fans to get involved. Get ready for the Inaugural Draft Class NFT player drop coming soon. I might just draft one of your players for my Los Angeles Magic! pic.twitter.com/KGjp5GqMcF
— Earvin Magic Johnson (@MagicJohnson) June 16, 2022
“From all stages of his career, Magic has inspired as a transcendent superhero to people of all races, but particularly as a black entrepreneur. His transformation from one of the most impactful careers in sports history to an even more successful business leader has inspired generations of minority entrepreneurs like myself. At SimWin we strive to follow in his footsteps as we build this incredibly innovative sports Metaverse,” said David J Ortiz, founder and CEO of SimWin Sports.
Other SimWin Sports owners
Other notable SimWin Sports owners include Jerry Rice, Marshall Faulk, Mike Singletary, Tracy McGrady, Penny Hardaway, LaMelo Ball, Dr. Jen Welter, Suzanne de Passe and Nick Carter.
The NBA Hall of Fame inductee will add SimWin Sport to his list of sports properties and investments, which includes stakes in the Los Angeles Dodgers, Los Angeles Sparks, Los Angeles Football Club and Team Liquid.
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