06 Jul Why Major League Baseball is Exploring Potential Revenue and Sponsorship Opportunities in the Metaverse [DigiDay]
BY ALEXANDER LEE
July 6, 2023 | On July 8, Major League Baseball is launching its first virtual stadium, an initiative internally known as MLB’s “31st Ballpark.”
By giving fans digital access to events such as this weekend’s annual Celebrity Softball Game, the league is aiming to use this virtual space as a springboard for new revenue opportunities — and, eventually, as marketing and advertising inventory in its own right.
MLB’s virtual stadium was built by the metaverse technology company Improbable and can be accessed on the league’s website via standard web browsers. Users can dress their avatars in virtual jerseys, then pilot them around the ballpark to participate in virtual activities such as a scavenger hunt for digital collectibles and events including a watch party for the Celebrity Softball Game, replete with celebrity interviews exclusive to the space.
Major League Baseball isn’t planning to make any money from this weekend’s launch, but the way the event is playing out makes it clear that the league is building its virtual ballpark with potential revenue streams in mind.