Magic Johnson Buys Football and Basketball Metaverse Teams in SimWin Sports

Magic Johnson has become the latest NBA legend to jump on the metaverse train after buying metaverse-based football and basketball teams in SimWin Sports.
Image source: SimWin Sports

Quick take:

  • Magin Johnson has jumped on the metaverse train after buying sports metaverse teams in SimWin Sports.
  • The NBA legend has invested in National Football and Basketball teams.
  • Johnson now becomes an owner, investor and advisor in the metaverse sporting franchise.

Earvin “Magic” Johnson on Thursday announced the purchase of metaverse sports teams in SimWin Sports becoming the latest NBA legend to foray into Web3. The former Los Angeles Lakers point guard has bought National Football and Basketball teams in the world’s premier digital sports league.

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, leading a list of Hall of Fame owners at the organisation. 

SimWin Sports league allows virtual teams and athletes to compete 24 hours a day, 7 days a week, throughout the year to fuel on-demand fantasy sports contests. According to the announcement, Johnson will also serve as an advisor to the organisation.

Fans of sports leagues hosted on the platform can join by acquiring training, trading and selling virtual players. The platform is built on Web3, the technology dubbed as the next iteration of the internet.

Fans can use various channels on the platform to earn income, including haring in multiple league revenue streams, earning salaries, performance bonuses, fantasy sports and secondary marketplace revenues.

SimWin Sports has also announced its first-ever virtual athlete NFT Drop in the coming months, which will give fans an opportunity to own a piece of digital sports history in the franchise.

Commenting on his new investment, Johnson lauded SimWin Sports as one of the best-run sports franchises in a new and exciting business sector.

“This multi-billion-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,” he added.

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 Famer will be adding SimWin Sports to his list of sports ownerships and investments including stakes in Los Angeles Dodgers, Los Angeles Sparks, Los Angeles Football Club and Team Liquid.

“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.

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