Limoverse, Metasportech to launch sports metaverse - News | Khaleej Times

2022-10-09 06:00:50 By : Mr. Allen Liu

Last updated: Sat 8 Oct 2022, 5:44 PM

Metaverse continues to disrupt every consumer-centric sector in the UAE and sports is no exception as two Dubai-based firms Limoverse and Metasportech jointly pledge to boost the sport metaverse in the nation.

Limoverse — the first ever complete health and wellness metaverse — stands with the mission to empower people to take charge of their health and well-being. Founded by Dr Sajeev Nair, serial entrepreneur, peak performance coach, and biohacker, and Adityanarayan, a start up entrepreneur, Limoverse is creating a global wellness and fitness ecosystem on blockchain using Web 3 protocol.

The platform connects health/wellness/fitness practitioners and institutions from around the world with wellness and fitness seekers. Limoverse provides an opportunity for its partner organisations to create B2C and B2B businesses through smart contracts supported by a BEP20 token called LIMO.

In addition, Limoverse is rolling out 5 different projects through which users are rewarded for various fitness-related activities. Limoverse app is available on playstore (waiting for approvals in iOS) and already has close to 75,000 downloads. The first project under Limovesre, called HealthFi is currently open to public, where one can earn LIMO tokens by walking, jogging, and running keeping the GPS active in the mobile app. One can enter this programme by purchasing a Sneaker NFT and the first drop of 500 NFTs got sold in 28 minutes.

Limoverse is in the process of integrating more than a hundred wearable brands to measure various health parameters so as to reward people for staying healthy. On its mission to empower people to stay fit, Limoverse identified the potential of sports, which is driven by communities and fans and an ideal domain for the web 3 model, as a community is the fabric of Web 3.0

Nair said: “It's imperative to understand the GenZ is a tech-savvy community and lifestyle as a segment has to keep up with consumer demand. We found a tremendous potential that can be unlocked through sports which have gained maximum traction post-Covid.”

Limoverse recently joined hands with Metasportech, a DMCC registered metaverse company with having an exclusive interest in building a sports metaverse. The brand headed by CEO Dr Sathya Menon plans to create the world’s first ever exclusive Sports NFT marketplace and also a Sports Metaverse. Other founding partners of Metasportech are George Jayesh who is the CTO and Prajeeth, director of operations.

Metasportech has already started the work of the first ever Badminton Metaverse, which is expected to commission by February 2023. Metasportech has signed an agreement through its group company, Beyond Boundaries LLC, a sports management company based out of Dubai, to create NFTs and also Metaverse for Badminton Asia Championships which is a BWF Super 1000 event. For the first time ever, Badminton Asia Championships will be conducted in Dubai for the next 5 years.

Menon said: “Badminton has more than 900 million followers worldwide, out of which more than 700 million are from Asian countries. In UAE alone, the badminton fanbase is expected to be at 1.2 million.

Metasportech through the Badminton metaverse is targeting this huge follower base for creating a large global badminton community. This community will be able to play badminton with legendary players in the metaverse. They can buy different NFTs and also get trained by world-class players in the badminton metaverse. Moreover, as this becomes a part of Limoverse, they will have access to various health and wellness services and products and also get rewarded by participating in various fitness activities.”

The Badminton metaverse will be launched during the same time as the Badminton Asia Championships in Dubai, which is going to be the richest badminton tournament in the world. Over 900 million people involved in badminton across the world are expected to watch the forthcoming mega championship event in Dubai.

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