Blockchain gives sports clubs a lucrative way to increase their fandom

economictimes.indiatimes.com:

blockchain, whose introduction has changed the basic paradigms of the traditional sports industry. Blockchain technology can effectively assist sports teams in monetising their fan base and strengthening fan engagement effortlessly. Blockchain isn't a future technology. It is a 21st century technology that is needed and should be used to its full potential under the current circumstances. Prominent sports clubs (Manchester City, Barcelona, PSG) and leagues worldwide are already using blockchain technology in their digital strategies. Blockchain use-cases in sports allow teams to unlock new profitable income streams and develop new ways to engage with their fans. From fan tokens to fan event monitoring and loyalty networks, the overall sports ecosystem was never this transparent, seamless and easy going for either players or fans.

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A statue honouring mysterious Bitcoin founder Satoshi Nakamoto was unveiled in a business park near the Danube River in the Hungarian capital Budapest

Against this backdrop, here are a few ways blockchain has changed the fundamental dynamics of our sports industry: Increasing global fan engagement through tokens The introduction of fan tokens is one of the primary ways blockchain is making a difference. These digital tokens serve as a club's virtual money, which fans can buy using fiat (government-issued) currencies like dollars, pounds and euros. Fan tokens can be exchanged for items, collectables, and memorable experiences for fans. Users may also utilise their tokens as a ticket into a secure, exclusive inner circle of fans with shared passions and values to participate in fan-led choices via a mobile voting platform. With these distinctive tokens, fans