The new technologies related to sport are a sector in continuous growth and transformation: it is a dynamic market that dialogues with the immersive power of the digital world and the changes taking place in the global economy, always offering new opportunities.
Our support is aimed at all clients who operate in the sports sector and want to be in control of their presence in the digital technology market: we assist players, clubs, investors, associations and federations in contracting, the commercialisation of rights and the various legal issues that may arise in this new sector.
We provide legal advice for:
- NFTs;
- fan tokens;
- e-sports.
How we help you
The market of new technologies applied to sport for athletes is a new area in which to use their image rights. At Elite Law we assist our clients in the commercialisation of their rights through digital products, such as NFTs: we take care of the legal support and collaborate with a team specialised in IT support, in relation to blockchain technologies, smart contracts and related cryptocurrencies.
NFTs (Non Fungible Tokens) are digital assets whose ownership can be traced through their certificate of authenticity. Each NFT is unique because the assets are characterised by uniqueness, indivisibility and infungibility (they are therefore not interchangeable). The ownership (or other rights) of those who purchase them is attributed through computer codes registered on blockchain. Put simply, the blockchain is a digital ledger, structured with a chain of encrypted blocks concatenated in chronological order, in which every transaction can be securely transcribed and made public. The content of NFTs can cover various fields, from art to music, including sports (e.g., photographs or videos of iconic sports moments, digital figurines depicting athletes or their companies’ logos, competition kits, memorabilia, etc.).
The buying and selling of these digital products normally takes place via cryptocurrencies.
The issuance of athlete-related NFTs in sport is mainly spread through the exploitation of the image rights of athletes, in particular ‘digital rights’, i.e. their virtual reproduction, which cannot be used by third parties without the consent of those concerned.
Legal support is crucial to have control over the economic exploitation of digital rights, especially in complex situations that require a pragmatic, up-to-date and creative approach, like ours.
With our team of lawyers and an international network of collaborators, we assist you in a practical and clear manner:
- in defining the ownership or licence for the use and exploitation of image and digital rights (which may belong to the athlete or be transferred in part to external clubs or agencies);
- in negotiating or litigating with market players who unlawfully use the digital image rights of an athlete
- in concluding contracts for development in this market.
Similarly, we offer legal support on digital rights to clubs and federations wishing to create and develop, for example, fan tokens, i.e. other digital assets operating on blockchain, which offer a number of exclusive benefits to the fans who purchase them (in terms of goods, services and involvement in the activities of the club or federation). Also in these cases, our team works in synergy with a specialised IT support team in relation to blockchain technologies, smart contracts and cryptocurrencies.
The world of e-sports is also a new area, where legal support is a key point in applying the subjects of sports law to new digital experiences.
E-sports are professional-level video game competitions, which can take place in player versus player (two players or two teams compete), or player versus environment (players challenge artificial intelligence). This market is also constantly expanding and changing.
At Elite Law, we offer you legal support:
- in the negotiation and conclusion of player contracts;
- in investor contracts;
- in drafting statutes and regulations;
- in assisting with the organisation of e-sports events and tournaments.