Yonomita: Don’t get NFTs just to show off, look for value in them: Arijit Mukherjee, Yonomita

Yonomita: Don’t get NFTs just to show off, look for value in them: Arijit Mukherjee, Yonomita

Recently, NFTs have been pariahs after the collapse of cryptography. butAnd the UNOMITAFounder and CEO, Arijit MukherjeeShe believes that the cryptocurrency market and the NFT will come back strong in the coming times. Excited about its launch into the tennis metaverse, in an interview with ETMarkets, he said one should look for value in NFTs and not just own them in order to get them. Edited excerpts:

Amid fears of a crypto winter and an economic slowdown, the cryptocurrency market and the NFT have been hit hard. Did you also feel anxious? What is the impact on Yunometa’s project and performance? When can we expect recovery in full swing?
Not right. In fact, we decided to double our projects and improve our offering to the crypto market. As with any growing technology, there have been ups and downs in the NFT and cryptocurrency market as well.

Combined with strange situations such as the war in Ukraine and high inflation around the world, it is normal for the industry to take a breather and come back stronger. This was our strategy.

Yunometa is launching its own metaverse sports channel this week. With upcoming events such as the FIFA World Cup and the ICC T-20 World Cup, the metaverse sport is becoming very popular. Why did you and your team choose tennis and not any other sport?

Tennis has a global fan base and its popularity has skyrocketed over the past few years. From the rivalries between the Big Three (Nadal, Federer and Djokovic) to the iconic status of players from the William Sisters to Sania Mirza, tennis has captured the imagination of the young public like few other sports. This is supported by the data that the largest following among the Grand Slams comes from the Indian subcontinent and Southeast Asia.

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Tennis has a whole fan base in India, especially in the south, with players like formerly Vijay Amritraj, Leander Paes, Mahesh Bhupathi and Sania Mirza more recently making the game very popular. Events like the FIFA World Cup and the T-20 World Cup will always attract a loyal audience. We chose tennis to showcase our metaverse offerings.

What are the main or salient features of this metaverse? How can one enter it and benefit more from it? Did you add any additional features?

With a selection of digital art; We aim to help monetize digital identity with NFTs that are authentic collectibles. It offers collectors the trio of technology, people and practicality. However, with Yunometa, artists can control various aspects of NFTs such as configurations, blockchain installation, analytics, user experience, APIs, integrations, custom terminology and policies, and more.

As for the metaverse, it will be of three sections that will be divided into a tennis court, the NFT Museum for Filming Tamil Nadu Tourism and Culture and a virtual tour of the five most famous places with rich Tamil culture. Chennai Open Metaverse will also have a tennis court where visitors can choose their avatar and play a match.

Through the virtual tour, tourists can visit the famous tourist places of Tamil Nadu and experience its rich culture and heritage. The places are St. George’s Fort, Meenakshi Temple, Mahabalipuram Temple, Vivekananda Rock Kanyakumari Monument, and Santhom-St Thomas Cathedral. The metaverse event will be available between September 10 and November 10.

Why did you choose the female metaverse and how is it different from the other metaverse? Can you identify the main points for people in general?

Answer: While the metaverse is still in progress in most industries and sports, we have gone ahead and created Asia’s first women’s tennis metaverse along with exclusive features. Aside from creating a unique digital world for people to experience women’s tennis, Yunometa also supports women’s empowerment by giving them an exclusive new stage to thrive and grow in the tennis world.

Hosting the WTA Championships in Chennai is a milestone in itself and we are proud to be associated with the Chennai Open to create a whole new experience for the fans.

What are your plans in the coming days? What are your expectations from this launch? Should we expect more similar projects in sports or elsewhere in the coming days?

We are very keen to lead the NFT sports movement in the country and should announce an exclusive partnership soon. Besides, we also have experience working with clients to create their personal metaverse based on their needs which we are happy to work on.

Yunometa is also working on blockchain-based solutions for various traditional industries, such as real estate to help digitize and track land records on the blockchain, which we are working to bring into the Web3 space.

NFTs have been a little under-flavored lately. Do you think innovative projects will rejuvenate the lackluster NFT space? What could spark new interest in NFT among investors?

NFTs are set to make a massive comeback after the last hiccup. Most people have now matured and realized the true value of NFTs, which means that not every sudden drop will get the same attention-grabbing sales numbers anymore. Only when collectors find value in the products will we see sales happen in the NFT ecosystem.

People need to find value in what they are buying versus having an NFT in order to show off. This means that unique and innovative projects will drive most of the new NFT drops. Sports NFTs, with their inherent connection to people’s hearts and fans, is definitely one of the best ways to not only deliver value but also connect with sports fans around the world.

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