Sport: 1,000 NFTs for running enthusiasts set to launch in April

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SINGAPORE – Running enthusiasts can now collect a non-fungible token (NFT) linked to their passion.

Liv3ly, a subsidiary of event organizer Infinitus, is among the latest to jump on the NFT bandwagon with its launch of race-related NFTs, which will go on sale early next month.

The company, which organizes The Straits Times Run, Great Eastern Women’s Run and Osim Sundown Marathon among others, has announced that it will launch 1,000 running NFTs aimed at fitness and lifestyle enthusiasts.

During the pandemic, Liv3ly had also pivoted to the digital space and created the Star Wars Virtual Run, Marvel Virtual Run, and Jurassic World Run.

Holders will be entitled to “lifetime benefits such as entry to a select number of events per year, exclusive access to private events and launches, concierge services at live events and an allocation of revenue of the company”.

“In the region, we have partnerships with the Sydney Running Festival, the Ho Chi Minh International Marathon and the Asics Relay held across Southeast Asia,” said Liv3ly Managing Director Jeffrey Foo.

NFT holders will be eligible to participate in such events, he added.

Payment for NFTs, available here, will be limited to credit cards.

There will be two categories, the 250 Tier 1 Tokens and the 750 Tier 2 Tokens. The latter has only one variant (Random Tier 2) costing $1,280 and offers free entry to four events, exclusive access at product launches and parties and VIP treatment at live events.

The Tier 1 token has three tiers: Random, Specific, and Special with prizes ranging from $2,800 to $14,000. Holders can participate in eight, 16 and 40 events respectively.

NFTs are designed to look like race bibs and only specific and special Tier 1 tokens allow holders to choose their bib number. For the other two that issue a random bib number, there is a 30-day money-back guarantee.

Foo said: “Bibs are a common identifier at running events and so our NFTs allow you to customize your own unique digital bib number and we will also print a physical bib number for NFT holders to wear at one of our events.

“Today’s technology allows us to revitalize and shape the future of the live event industry. As a game changer, we are excited to embark on this journey with over 300,000 organic members within our fitness community.”

This isn’t the first time the local sports community has made a foray into the realm of NFTs.

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