The sports lawyer Giacomin: Collecting in the metaverse and digital competitions. This is the business of the future

When we contacted him, he was not in the office like a traditional lawyer. He was in the States to be next to a client. «Understanding customer needs, identifying the most effective solutions I believe is one of the crucial elements of my work. In addition, for my field I think it is essential to establish a deep relationship of trust with the customer, supporting him in achieving the objectives. I don’t have timetables and I have different dynamics than those of a normal colleague, just as the clients I take care of are different ». Speaking is Riccardo Giacomin, expert in sports law and contracts and partner of Studio Bergs & More with offices in Milan, Padua, Dubai, Doha, Nairobi and which will soon open also in London.

His is a figure still not very well known in Italy: a professional of his caliber is always behind the scenes, but plays a fundamental role for the professionals. «As for the athletes, I work alongside the manager or the management company that deals with sports. And one of my tasks is integrated and specialized assistance to operators in the sector, from athletes to sports clubs, federations, institutions, event organizers, national and international sponsors”.

That of the lawyer is a passion born as a child (“my parents tell me that from an early age I said I wanted to be a lawyer …”) and cultivated over the years until he realized that he could realize the dream of keeping together his two great loves, one for sport and a career as a lawyer. “My” sporting “path began in 2017 and when in the previous study I was offered the opportunity to found a” sports division “, an opportunity that I immediately took by focusing on football, cycling, golf, major events and motorsport, my passion. Since then, the successes have been incredible (last year Giacomin was awarded the Top Legal Awards as Sports Professional of the Year). Now they are in the States, one of the fastest growing markets for sport and motorsport in particular as from 2023 they will host three Formula 1 races: Austin, Miami and Las Vegas. Here we need to bet and widen the opportunities for growth as much as possible ».

Precisely in this context, Giacomin followed the legal aspects of the negotiation for GPNFTS, the new partner of the IndyCar Juncos Hollinger Racing team: a newly launched NFT ecosystem for the world of motorsport that operates in all major championships on the planet, including Formula 1, World Endurance Championship, MotoGP and now also Indycar. In collaboration with Velas – a Swiss company active in the blockchain and NFT sector, and “Premium Partner” of Scuderia Ferrari – GPNFTS presents a new concept of collecting in the world of motorsport, opening the door to the metaverse. Furthermore, recently, the law firm has also consulted with entities operating in the NBA and NFL, two of the main American leagues.

“In addition to the US, the markets that will grow the most in the coming years are the countries of the Middle East, Italy, which will also have the driving force of the 2026 Olympics, but also India, Thailand and Vietnam. And then there is the explosion of exports “.

A worldwide phenomenon, whose real surge coincided with the onset of the pandemic. In recent years, the turnover of “virtual games” has attracted many economic realities, not only those closely linked to the world of video games. Revenues generated from competitions or esports teams, in the form of sponsorships, media rights, ticketing and merchandising, were € 947.1 million in 2020, exceeded € 1 billion in 2021 and this year, according to Goldman Sachs, they could go up to 3 billion.

Author: Luigi Merano, translated from Italian. Edited in Libero Quotidiano del 30.4.2022.