Whether it’s through blockchain-powered collectables or enhanced loyalty schemes. Blockchain technology in sports is helping teams generate revenue and fan engagement right when they need it most.
It’s been a tough year for the sports industry. Shutdowns, social distancing and changing fan habits have severely impacted revenues for many clubs, venues and operators. In response, forward-thinking organisations are turning to innovative technology such as blockchain to help open up new revenue streams. Fan tokens, digital collectables and more efficient systems, all powered by blockchain technology, are enabling clubs to engage more fans and boost revenues.
For the Esports industry, bringing a range of players and stakeholders together can be tricky. What happens if you need to connect players with sponsors and game producers? Or when different stakeholders need to securely use the same platform to distribute prize money, transfer assets or engage with certain players? With blockchain technology, the Esports industry is creating vast, interactive ecosystems where essential stakeholders can interact exactly how they need to — in a more connected, more transparent, yet more secure environment.
So how is the sports industry using blockchain? From issuing rare collectables to sports betting; blockchain technology in sports is being used to improve processes, open up new revenue opportunities and provide transparency.
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