The sports industry has always been prone to technological innovation. However, blockchain technology remains the most promising, opening up new opportunities not only for fans but also for clubs and organizations. So how exactly will blockchain transform the sports industry?
FC Manchester City
Since 2021, the football club has been actively integrating blockchain technology into its operations through partnerships with various companies specializing in this field.
One of the key examples is the partnership with the South Korean sports services developer Superbloke. As part of this collaboration, they created an online game called FC Superstars, where users could create digital teams and exchange cards of football club players based on real matches.
In addition, Manchester City has issued fan tokens $CITY built on the Chiliz blockchain as part of its partnership with Socios.com. With this token, fans have the opportunity to participate in the club’s decision-making and gain access to exclusive experiences.
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Furthermore, in March 2022, the club became an official partner of the OKX cryptocurrency exchange. Later, the exchange even expanded its partnership and became the club’s official sponsor in a deal worth more than $70 million over three years. Also, Manchester City and OKX recently released a limited edition of jerseys related to rare NFTs.
The club’s chief marketing and fan experience officer, Nuria Tarre, said the launch of NFT is part of the Premier League club’s strategy to attract an audience that is “more tech-savvy, open to innovations and technologies.”
He explained: “We think it’s important that you can own this piece digitally. I think that’s one of the beauties of Web3 — it changes the ownership process.”
In general, the football club is implementing blockchain technology to create a more interactive and transparent interaction with its fans, as well as to implement more innovative approaches in its operations.
NBA
The basketball league was one of the first to implement blockchain in its operations. Some NBA teams have several partnerships with several companies. For example, in 2019, the Sacramento Kings announced the first blockchain-based NBA awards program in collaboration with Blockparty. And in 2020, they launched the first auction platform for authentic memorabilia, together with ConsenSys and Treum.
In 2021, they also partnered with Ankr to create educational content, host events, and create innovative projects. In addition, they launched the NBA Top Shot blockchain platform, which allows fans to buy, collect, and trade officially licensed digital NBA collectibles called “Moments.”
FC Barcelona
The football club also actively uses blockchain and web3 technologies to engage its fans. In 2020, FC Barcelona issued the $BAR Fan Token in cooperation with the blockchain platform Chiliz. The tokens provide fans with access to exclusive content, rewards, and the opportunity to participate in surveys. Later, in 2022, the platform invested in Barça Studios, the club’s digital content creation division, becoming a strategic partner. Barça Studios also leads the development of NFTs, meta projects, and other Web3 technologies.
Since 2022, the cryptocurrency exchange WhiteBIT has been the official partner of the football club. Their partnership also includes collaboration with the Barça Innovation Hub (BIHUB), a professional football research center that seeks to shape the future and set industry standards. In cooperation with WhiteBIT, they have created a new online course “Game-Changing Tech: Mastering Blockchain”. The course aims to develop an understanding of blockchain technology and explore its practical applications in everyday life.
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Summary
The integration of blockchain technology into the sports industry is transforming the relationship between organizations and fans. Through partnerships and innovative initiatives, sports clubs are using blockchain to increase fan engagement, increase transparency, and find new revenue streams. Their partnerships demonstrate how blockchain facilitates interactive experiences, allows fans to participate in decision-making processes, and opens up opportunities for exclusive content and rewards. Moreover, by using blockchain and Web3 technologies, sports organizations are not only adapting to the changing preferences of a tech-savvy audience but also becoming leaders in innovation in their respective industries.
Deniz Tutku
Deniz Tutku is a digital journalist with a background in copywriting. A longtime cryptocurrency enthusiast, she has been following the industry closely for many years. Having moved on from her early career, Deniz now writes extensively about various events and developments in the cryptocurrency world, providing her audience with in-depth and informed views on the field.