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- NFTs, in particular, has enthralled millions of people all over the world
- So far, NFTs have proven more successful in disrupting the art and gaming industries
- Sorare proposes a new approach for football fans to interact in fantasy games
However, blockchain technology and, more specifically, NFTs and tokens, are upsetting everything now more than ever. This encompasses human culture as well. NFTs, in particular, have enthralled millions of people all over the world. This is due to our intrinsic urge to collect and be a part of society as humans. As hunter-gatherers, it’s in their blood. We’re seeing a new paradigm of human behavior – but digitally – whether it’s stones, marbles, or Top Trumps in terms of collectibles, or tribes and villages in terms of communities.
Bitcoin and cryptocurrency have revolutionized the way people think about money and finance
Football, like other sports, is a component of human civilization. Although NFTs have so far been more effective in upsetting the art and gaming industries, Topps’ sale of Bundesliga NFTs, the Dapper Labs-backed SportsIcon NFT drop, and fantasy football game Sorare have indicated that this space will have a significant impact on the sport.
Sorare proposes a new approach for football fans to interact in fantasy games. Fantasy football has long been a part of our online life, but now there’s a chance to own players and earn more than just bragging rights.
Finally, using NFTs as a vehicle, there are methods for fans, players, and football to work in the same digital realm. This is a new way of thinking about fan involvement, fantasy football, and in-game ownership.
Meanwhile, Topps has created a digital replica of the company’s well-known physical trading cards. Those digital Bundesliga memorabilia have proven to be quite popular among soccer enthusiasts.
Beyond NFTs, the fan token platform Socios has gained a lot of traction among clubs and supporters. Although there is some skepticism and debate surrounding its product, there is little doubt that Socios has aided in the digital engagement of global fans.
The Covid-19 pandemic has made clubs realize that in order to sustain fan loyalty, they must begin connecting in a variety of ways beyond the matchday experience. We’ve seen Dogecoin sponsor Watford and Crypto.com work with Serie A in a league-wide deal in terms of advertising and partnerships.
What role will cryptocurrencies and blockchain technology play in the future of football?
Football is frequently played in sold-out stadiums. Beyond that, technology is used to engage people. Crypto will play a significant role in how fans are digitally fascinated by games during the 90-minute period and, maybe more significantly, beyond that. They now have the ability to build digital artifacts that will survive the test of time using a blockchain. Moments, goals, and memories can now be recorded on a blockchain and preserved in perpetuity.
He believes that, for example, ticketing experiences will become NFT native. Imagine going to the 2005 Champions League final, where Liverpool rallied back from a 3-0 deficit to defeat AC Milan. That ticket stub is valuable, nostalgic, and if you tried to sell it, you’d probably get a good price.
Assume the ticket is a non-refundable ticket (NFT). Something you possess and will always own in your digital wallet. How might clubs think about bringing that memory and moment to life outside of the game? Could you, as the owner of that NFT, be airdropped a token that grants you a free pint at Anfield in six months? Could you be airdropped a token that grants you access to a token-gated digital Q&A with Steven Gerrard on the game’s two-year anniversary? The possibilities are limitless just here.
The possibilities are endless here. This emerging technology will disrupt every sector you can think of, including football. You should start thinking about how your business model works in the new world — in or out of football – if you haven’t already.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
