Blockchain In Sport: A Match In The Making
Cryptocurrencies and blockchain technology have been getting a lot of attention recently. Not only in the tech industry, but also in sports. Many clubs go into the blockchain because it can give them another opportunity to earn money.
Miami Dolphins, Cleveland Cavaliers, AS Roma, Everton, Leicester City, Wolverhampton Wanderers, Newcastle United, and many more – what do they have in common? They have all started to work with cryptocurrency or blockchain companies. And this summer was the escalation of such cooperations.
Litecoin for mass adoption?
A month ago, Litecoin Foundation announced its coin as the official cryptocurrency of the Miami Dolphins, an NFL club.
What does the deal mean? It means that Litecoin will be advertised during games. Of course, it will also be an official way of payment. From the beginning of 2019 season, every fan will be able to pay for tickets with Litecoin (LTC) and Bitcoin (BTC), both online and in the stadium. There aren’t, however, any indications whether cryptocurrencies could be used for something more during the Dolphins games, at least for now.
Crypto cavalry in NBA
While Dolphins teamed up with a well-known cryptocurrency, Cleveland Cavaliers, an NBA team, joined forces with an up-and-coming crypto company called UnitedCoin.
The partnership will be mostly used to advertise a new company. UnitedCoin is supposed to be the blockchain version of PayPal. It seems a matter of time before the Cavs use UnitedCoin as a means of payment.
AS Roma goes into blockchain
Chiliz is a sports and entertainment blockchain company from Malta. Last month, they signed an agreement with an Italian football club AS Roma.
Chiliz is responsible for Socios. Socios is a blockchain-based voting platform for the most dedicated fans of sports organizations. The platform already cooperates with football clubs Juventus FC, PSG, West Ham United and esport team OG.
Socios enables fans to vote for club-related topics with their fan tokens. Chiliz is also associated with Binance Chain. The company plans to attract many more clubs and sports organizations in the nearest future.
Everton and Leicester with eToro
At the beginning of this month, Leicester City renewed partnership with eToro. It will be the second season of the cooperation between Foxes and the multi-asset and cryptocurrency investment platform.
Earlier, Everton announced its deal with the same company. With those two, eToro becomes the official online trading partner of two Premier League clubs.
Newcastle and Wolverhampton Wanderers
Newcastle United will also have an official cryptocurrency partner. StormGain, a crypto trading platform, has become the new sleeve sponsor of the Magpies.
For the second season CoinDeal, a cryptocurrency exchange, will be an official sleeve sponsor of Wolverhampton Wanderers. The European exchange and Premier League club have been very satisfied with the last year’s cooperation and decided to renew the partnership.
NBA and CryptoKitties
Not only teams within the league, but also the league itself goes into blockchain. NBA collaborates with CryptoKitties’ creator, Dapper Labs to develop a platform for “blockchain-based collectables”. The project should be ready to operate this fall when the new basketball season starts.
Of course, those are only examples of sports organizations which have teamed up with cryptocurrency or blockchain companies. The summer has been hot for the industry. It seems that the sports world is the first to recognize and make full use of the crypto industry. Will sports lead the way for others?
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