Blockchain, crypto set to take sports industry beyond NFT collectibles
Deloitte expects an eventual rise in blockchain-enabled innovations; as a result, “The use of NFTs, crypto, fan tokens, and ticket innovations will grow and evolve.” Bitcoin (BTC) has been attributed as the most prominent blockchain use case, showing the technology’s prowess in successfully delivering an immutable and truly decentralized ledger over the past 13 years. Adding to the years of innovations since then— that saw the introduction of altcoins, non-fungible tokens (NFT), decentralized finance (DeFi) and more, a study conducted by fintech giant Deloitte highlighted the untapped....
Related News
NFTs and the sports industry are a match made in heaven: Rario connects the two with an exciting new NFT marketplace The world of NFTs, blockchain gaming and digital collectibles is once again exploding, with world-renowned artists, musicians, sports clubs and celebrities flocking to the space to catch a piece of the action. Top auction houses such as Christies and Sothebys are listing NFTs for sale on a regular basis that goes for upwards of a million dollars and, in the gaming sphere, NFT game Axie Infinity reached $1 billion in trade with its popular crypto-based virtual economy.....
Blockchain technology has begun to gain traction among sports fans and serious admirers. One thing that all regions have in common is blockchain technology. The traditional sports world is slowly but steadily changing, with blockchain as the core base. Blockchain is at the center of it all, from fan tokens and collectibles backed by NFTs […]
NFTs have already had a deep impact on the art, brand promotions and gaming industries, but the next best use case could come from the ticketing world. The concept of nonfungible tokens (NFT) came into existence in 2015, and it first got some traction in 2017 when many prominent digital collectibles such as CryptoPunks and EtherRock were created. NFTs got early traction among premier sports clubs but burst into mainstream popularity after digital artist Beeple’s artwork was sold as an NFT for over $69 million. The Beeple event caught the attention of the world and proved to be a breakout....
Innovation in Blockchain is making waves once again, this time in the industry of Fantasy Sports.The BTL Group announced its enthusiastic participation in a key partnership with Fantasy 6 Sports. The partnership is aimed at the development of a set of Blockchain tools and services created specifically for Fantasy Sports Corporations. The industry surrounding Fantasy Sports is quickly expanding. However, the need for the Blockchain services has been highlighted by recent scandals involving the trust, loyalty, and integrity of its players. Blockchain technology would create a buffer to....
The world of sports became a perfect representation of how fast crypto is being adopted all around the globe. From NFTs to naming rights, here are the highlights. Cryptocurrencies and sport have continued to collide in 2021 with synergies between the two proving to be fruitful on a number of fronts.The relationship between the sports world and the various applications of cryptocurrencies and blockchain technology has slowly been expanding over the past few years. Humble beginnings of simple sponsorships building early brand awareness for exchanges and payment platforms have snowballed into....