Sports as an industry has realised the potential that cryptocurrencies and blockchain technologies can bring to further monetise fan engagement, attract sponsors and engage a global market in ways that were unimaginable decades ago. Passionate fans, each a citizen of digital technology, consume sports and related content beyond the actual duration of a match. Teams, clubs and sporting bodies are innovating to survive in the new digital age and meet fan expectations.
With the limitations brought upon the industry due to the COVID-19 pandemic, the sports industry has responded and devised new strategies to ensure clubs and fans remain connected in a socially distanced world. The industry has recognised that blockchain is capable of revolutionising revenue streams and the fan experience through increased crypto-sponsorships, fan tokens, non-fungible tokens (“NFTs”) or even by entrance of blockchain providers into the market.
Partnerships and Sponsorships
Sponsorships have led to an increased awareness of cryptocurrencies amongst viewers and investors, at