Football clubs are tapping the high potential that blockchain innovation can bring to every aspect of the game including fan engagement, ticket scalping and paying salaries of the players. The major highlight of the blockchain-enabled platform is that once the database is shared across hundreds of computers it is almost impossible to tamper with it.
According to the Sports Investment Partners’ Michael Broughton, blockchain can be used as the underlying infrastructure for the functioning of sports. He was speaking at the two-day World Football Summit in Madrid. Broughton further added that similar to the way mobile phones and apps are used for broader expressions blockchain can be used in sports.
The last few months have seen a rapid progress in this field. Firstly, the Paris Saint-Germain, the French champions declared that they are launching their virtual currency in collaboration with Socios.com. After that, Juventus, an Italian giant followed suit. This new collaboration will enable the fans of two clubs to buy club-branded tokens that they can gain with voting rights. The fans can also access exclusive rewards and content.
UEFA, the European football governing body used blockchain innovation technology for selling tickets for the Final of Super Cup in Tallinn via mobile phones for preventing duplication of tickets, said The Star. The growing interest of the football world in blockchain was evident when the star footballer from Argentina, Lionel Messi became the brand ambassador of a blockchain-based startup from Israel, Sirin Labs in December.
One of the names that are quite active in the sports field is Socios, supported by blockchain innovation. The Maltese sports venture recently came out with chiliZ that is created by high-profile players belonging to the blockchain industry such as Ethereum and crypto-trading giant Binance co-founder Stephen Nerayaoff, said Lovin Malta. The venture raised around $65 million. The chief partnership officer of PSG, Marc Armstrong, stated that the revolutionary blockchain technology will make an important impact on the overall business strategy of the club and the way the club engages its fanbase.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]