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- Along with two new Franchises in the IPL, cricket fans worldwide are expected to be receiving rewards of official tokens
- Every Celeb in the Bollywood industry like Salman Khan, Amitabh Bachchan, etc., are getting into the cryptocurrency game by creating non-fungible tokens for attracting more and more followers and crypto aficionados
- As per Ishan Arora, Partner of Tykhe Block Ventures, the more tokens people own, the greater their access and involvement with the team, which will be broadened, along with their fan base
Along with two new Franchises in the IPL, cricket fans worldwide are expected to be receiving rewards of official tokens. The tokens will be in the form of gift cards, as per the news. Polygon will support the tokens. There was another prediction that Dec. Sandeep Nailwal will make a formal announcement, Polygon’s COO, along with other members have also hinted at such developments.
Polygon is expected to come up with some exciting news about Indian sports shortly. This is however not a new tendency in the cricket world. Three IPL franchises, RCB, Punjab Kings, and KKR, have partnered with Socios earlier this year. They have agreed to establish a token platform to connect fans. Socios is a BTC monetization platform funded by Chilliz, a cryptocurrency startup. Among the members of Socios are European football heavyweights Juventus, FCB, Atletico Madrid, and PSG, along with other members.
Every Celeb in the Bollywood industry like Salman Khan, Amitabh Bachchan, etc., are getting into the cryptocurrency game, by creating non-fungible tokens for attracting more and more followers and crypto aficionados. The IPL themed fan tokens will be fungible, rather than non-fungible. These tokens may be purchased in the same way that any other fungible token, like BTC, ETH, etc. Once the fans get hold of these tokens, there might be a number of ways for them to use the utility created around these tokens. Experts claim that the possibility for a fan involvement is limitless and that they are immortalised. The tokens of such type will also allow a lot of voters and supporters which would boost their popularity, along with that of the teams. Users who own such tokens may be eligible for special events, along with unique advantages, as per researchers.
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As per Ishan Arora, Partner of Tykhe Block Ventures, the more tokens people own, the greater their access and involvement with the team, which will be broadened, along with their fan base. Football teams notably in Asia, have utilised this strategy to grow their fan bases.
This will end up making the fan experiences more digital and transparent to the public. It will also peak the curiosity of HNIs. According to Duff and Phelps, financial consultant, with their HQ in the US, the IPL is India’s most lucrative sporting competition, with a brand value of over Rs. 45,800 crore. The intro of fan tokens is expected to turn the IPL into a global phenomenon, boosting its popularity and brand value even more.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
