Sports teams in 2019, and now 2020 have continued to pursue new revenue streams for fans, players and club finances.
Serie A Club Fiorentina are the latest to utilize Blockchain technology to ensure that shirts, worn in-game by players, can be certified and confirmed as real, helping to fight crime and any illegal practices. Each player’s shirt now will contain chips created with unique and unchangeable code to verify their realness using blockchain and ledger technology.
Genuino’s solution which provides the blockchain authentication creates a digital copy of the player’s shirts, which is then certified and shown online for all parties interested, to confirm and counter counterfeiting across the sport.
Currently, all proceeds will go towards charity for the remainder of the season, paving a strong way for clubs to help raise awareness and funds for those in need.
Looking ahead, all clubs may begin using the technology as fans and hobbyists alike have huge collections of worn player kits including shirts, shorts, and gloves. This industry has a long history and one that will surely continue for as long as football is around. The market to date showing that some kits can rise by over 100X in value.
Other clubs involved in Blockchain
German Football Club Giant Bayern Munich Begin Offering Digital Blockchain Collectibles
Collecting football cards and digital collectibles is a massive financial sector in European Football. EA Sports, a financial giant in the sector, with over 45 million unique players playing football games on console and PC, is expected to earn close to 2 billion in revenue from 2 years of user spending.
Stryking, a fantasy sports platform has now begun to process its version of business to enter this money-making industry by teaming up with globally renowned team Bayern Munich.
The joint venture will see 18 different collectibles go on presale in an auction format, offering the most famous and exciting players in their squad.
The players can then be used in game-like scenarios where rewards and achievements can be won. Card owners are given digital ownership and can freely use and sell their property as they wish, either selling for profits, using in tournaments or other blockchain game scenarios.
This is not the first high profile game to attract attention with Formula 1 also getting involved with gaming and blockchain.
Bayern Munich is an extremely well-known brand in football, so this is yet another fantastic new player entering into the crypto markets. With other stars like Louis Figo and Ronaldinho joining, this could well help pave the way for more celebrities to get involved.
What do you think about football, sports, and Blockchain?
Is it just the right fit?
Geoffrey is a Blockchain and cryptocurrency enthusiast. Publishing media for The Capital, Blockchain news, Cryptoninja, Data-Driven Investor and Unidax Exchange.