How teams generate new revenue with blockchain

iGuRu.gr > How teams generate new revenue with blockchain

Sport, as an industry, realized the great dynamics of blockchain technology and cryptocurrencies a few years ago, and began to use them.

The benefits are many and include the further monetary liquidation of fan loyalty, attracting sponsors and participating in a large, global market. Fans can now "consume" sports off the field, since the digital world is already here. From mobile apps to digital games, teams and sports organizations have found new ways to satisfy their fans.

See more articles from iGuRu.gr when you search for news on Google.

iGuRu.gr preferred source

One of these ways is cryptocurrencies. They may not be as well known in our country as they are on a global scale, but there are teams that have been using them since 2018. Among the first teams to dare were Juventus and Paris Saint-Germain, when 3 years ago they announced their collaboration with the socios.com platform . Essentially, the platform allows the purchase of digital currencies, with which fans can obtain various privileges or exchange them with other fans.

Of course UEFA could not stay out of the new technologies and some time ago revealed that it will use a blockchain system to sell its tickets Euro 2020.
This way, fans will be able to have tickets on their mobile phones. These digital tickets will generate active QR codes via Bluetooth as soon as fans approach the stadium.

The Euro starts this year on June 11, with the first matches taking place in Rome, Italy. The anniversary tournament will be held in 12 countries, after the institution has completed 60 years. The teams in the 6 groups will start the games and on June 26 they will enter the “16” phase. The top favorites to win the title are France, England and Belgium, according to bwin’s Euro bet . All 3 national teams have proven their worth in international championships and this year they will claim another one. The previous holder of the title is Portugal, while France holds the title of world champion and England and Belgium had reached the final games of the World Cup.

Regarding ticket sales, UEFA announced that “fans will benefit from this improved ticketing experience, as they will be able to easily transfer their ticket to someone they know using the app’s transfer feature. Fans will also no longer need to go to points of sale to purchase or redeem tickets.”

This sophisticated fan experience offered by blockchain technology helps engage more people in watching sports, and can generate more revenue from the various prospects that open up.