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The sports industry can benefit from the emerging metaverse space

The metaverse continues to be a decisive area in the ever-evolving world of technology, yet questions remain as to how the sport industry can capitalise on new virtual reality spaces.

The latest Loughborough University Experts in Sport podcast delves into the possibilities on offer for those in the sector.

In a wide-ranging episode, Professor Aaron Smith (Director of Innovation and Entrepreneurship, Loughborough University London) is joined by Dr Ben Shields, Senior Lecturer from USA-based MIT Sloan School of Management.

Together, they explore how the metaverse has developed over time, including the potential future benefits for those involved in sport – from venues, franchises, clubs, and ultimately, the fan and athlete experience.

Dr Shields also discusses the stark differences between established social media channels, gaming networks, and the metaverse. He explains how the latter creates immersive digital spaces for individuals to interact, communicate, connect, and partake in new experiences.

The panel touch upon how the metaverse can create new revenue streams for sports businesses, as well as creating new opportunities for spectators to develop their own sport performance skills.