Blockchain is the new star in the world of sports as its use is increasing in 2020

Blockchain is the new star in the world of sports as its use is increasing in 2020

Culture

Blockchain is the new star in the world of sports as its use is increasing in 2020

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Blockchain technology is one of the most attractive things for the sports industry. It is also a big attraction of sports that you can fully enjoy it. But when it comes to large club teams and their games, you can use this technology to make money.

Blockchain technology’s “transparency” and “direct transactions” are key to solving problems and creating a dream sports industry. Ticket information can now be managed in a state where it cannot be counterfeited, copied, or tampered with, and athletes and fans directly interact on a dedicated platform, and in some cases, athlete’s own virtual currency. You can also purchase limited items and get rewards through.

The range of applications is extremely wide and only attractive, so many players and teams are actually working on the use of blockchain, and new projects are being announced one after another.

Many NBA teams accept payment for tickets through cryptocurrency methods. They can quickly transfer money to buy tickets. This blockchain technology method expands day by day and also proves very useful in sports.

Blockchain and the football industry

Jul 26, 2019; East Rutherford, NJ, USA; Real Madrid goalkeeper Thibaut Courtois (13) makes a save against Atletico de Madrid during the first half of an International Champions Cup soccer series match at MetLife Stadium. Mandatory Credit: Brad Penner-USA TODAY Sports

In the football industry, not only active star players but also “legends” who have already announced their retirement are working on cryptocurrency and blockchain projects.

In the sports industry, many projects have been started, especially in the soccer industry, football players that are the advertising tower of virtual currency projects. Players who are developing social network services that utilize blockchain technology; in addition, some players issue their own tokens.

“Virtual Currency x Soccer Summary” introduces the projects of the following players.

  • James Rodriguez
  • Iniesta and Pujol
  • Michael Owen
  • Lionel Messi
  • Louis Figo
  • Ronaldinho
  • Didier Drogba
  • Keisuke Honda

In addition, soccer game applications that can actually use virtual currency Bitcoin Cash (BCH) have been released, and countless related products have been announced.

Blockchain and baseball industry

In the baseball industry, Major League Baseball/MLB is working on the development of decentralized applications (DApps), incorporating blockchain technology.

In addition to this, there are players who launched a virtual currency hedge fund for athletes after retiring from minor leagues. In Japan’s baseball team, Chiba Lotte Marines and others have sponsored contracts with virtual currency exchanges, and provide baseball players “autographed uniforms” and so on.

Blockchain and the tennis industry

Aug 28, 2020; Flushing Meadows, New York, USA; Novak Djokovic (SRB) hits the ball against Roberto Bautista Agut (ESP) during the Western & Southern Open at the USTA Billie Jean King National Tennis Center. Mandatory Credit: Robert Deutsch-USA TODAY Sports

In the tennis industry, French star Gael Monfils has signed a sponsorship agreement with eToro, a platform for virtual currency investment. He has been investing in cryptocurrency himself since last year and has revealed that he is actually making a profit.

Blockchain and basketball industry

In the basketball industry, NBA basketball team Sacramento Kings is working on miningEthereum (ETH).

Sacramento Kings, which has been actively adopting cutting-edge technology for a long time, is mining inside the facility of its own arena “Golden 1 Center”. The arena uses solar energy to keep electricity bills to a minimum, and the profits gained from mining are used to support a charitable activity called “Mining For Good.”

Blockchain and the American football industry

In the American football industry, the American Professional Football League Players Association (NFLPA) is investing in blockchain startup Sports Castro.

SportsCastr (sportscaster) provides a video distribution service using virtual currency Fanchain (fan chain), and provides a service for live distribution of a wide range of sports games such as American football, soccer, and baseball with high image quality. The service also has a chat feature, so users can enjoy sports games in a slightly different way.

NFL players also seem to own virtual currency such as Bitcoin, and insiders have revealed that there may be excited in the locker room regarding topics such as Bitcoin (BTC) prices. 

There are also many other games which support the bitcoin currency.  Because in many counties it is totally legal currency so bitcoin used in sport is also legal in these countries. Many famous players use this currency to make money. The market for sports betting is huge in the United States alone, in the region of hundreds of billions of dollars.  So now bitcoin is not new for the sport industry and very common term used in games.   

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