Basketball Hall of Famer and business titan Earvin ‘Magic” Johnson announced his acquisition of football and basketball franchises in SIMWin Sports.
SimWin Sports is the first professional sports league where virtual teams and athletes compete 24/7/365 to fuel on-demand fantasy sports contests. The teams are all owned by sports figures, celebrities, and investors.
Businesswire reports that SimWin Sports is built on proprietary Web3 technology and each player ownership presents a unique business opportunity, sharing in multiple league revenue streams, earning salaries, performance bonuses, fantasy sports, and secondary marketplace revenues.
“I’m so excited to be involved with SimWin, which is blazing a trail in one of the hottest new business sectors and has a great team leading the charge,” Johnson told Businesswire. “This multibillion-dollar business is about to take off and the SimWin model is an excellent way for sports fans to get involved in this groundbreaking opportunity. I look forward to contributing to its growth and success. Get ready for the Inaugural Draft Class NFT player drop coming soon. I might just draft one of your players for my team.”
Johnson joins an impressive group of SimWim franchise owners that includes NFL Hall of Famers Jerry Rice, Marshall Faulk, and Mike Singletary. Basketball legends Tracy McGrady and Penny Hardaway as well as current NBA player LaMelo Ball, are also franchise owners.
The gaming industry, both virtual and traditional, has seen a significant boom in recent years as video games have become more popular with kids and the COVID-19 pandemic forcing many to connect with friends and family through online gaming. The industry generated more than $180 billion last year according to NewZoo.
SimWin sports games run on an innovative AI player performance model that allows each digital athlete to develop throughout the season with atrophy and hot and cold streaks. This will help generate the most accurate simulation and data of traditional sports, unlocking real-money gaming opportunities for fans.
“From every stage of his career, Magic has inspired as a transcendent superhero for people of all races, but particularly as a Black entrepreneur. His transformation from one of the most impactful careers in the history of sport, to an even more successful business leader has inspired generations of minority entrepreneurs like me. We at SimWin strive to follow in his steps as we build this incredibly innovative sports Metaverse.” said David J Ortiz, founder and CEO of SimWin Sports. “From his first game to his last, Magic crafted the modern NBA into must-watch TV. With his help, SimWin Sports is creating a sports Metaverse that will deliver Showtime to sports fans 24/7/365, so they never miss out on the action.”