How Will Blockchain Change The Way We Experience The Sports Industry?

November 30, 2021

Blockchain and tokenization can change the way we interact with sports!

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Your favorite sports team releases a "token".

With this token, you can vote on team decisions - like jersey designs!

As a fan, you can be part of something more.

How blockchain can change the sports industry:

  1. Player NFTs: Players will have their own NFTs, sort of like baseball cards. The NFTs can even offer exclusive access to games and events. It provides a way for players to interact directly with fans.
  2. Player Analytics: Blockchain can publicly store player stats so that anyone can build with them (kind of like DeSo). Player analytics and fantasy sports can be brought to another level. A private key can be used for sensitive information for employers and sponsors.
  3. Fan Engagement Tokens: Some sports teams already have their own fan tokens (FC Barcelona with $BAR). Through Fan Token Offerings (FTO), fans can buy tokens to get VIP access or vote on team decisions like charity initiatives and jersey designs.

Companies to Watch:

Socios: fan engagement tokens for sports. Socios has their own token, Chiliz ($CHZ)

Crypto.com: major crypto advertiser in the sports industry

All Sports: blockchain for sports industry application

DeFi11: decentralized fantasy sports

Protokol: blockchain solutions for sports/e-sports

3 Blockchain Sports Opportunities:

  1. Fan Tokens: Get involved by purchasing your first fan engagement tokens!
  2. Web3 Sports Betting: Can you create a web3 sports betting platform that uses player data and smart contracts? Is there a way to make this decentralized and reduce platform fees?
  3. Sports Blockchain: DeSo is the go-to layer 1 blockchain for social apps. Is there potential to build something similar for the sports industry?

Sources

https://academy.moralis.io/blog/blockchain-use-cases-in-the-sports-and-esports-industry

https://www.protokol.com/insights/top-5-blockchain-use-cases-in-sports-and-esports/

https://www.sports.legal/2021/03/the-future-of-sports-cryptocurrencies-and-blockchain-technology/

https://www.socios.com/fc-barcelona-bar-fan-token-sells-out-in-less-than-two-hours-generating-1-3m/

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