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How Cryptocurrency and Blockchain Are Changing the Football Industry

Cryptocurrency and blockchain are no longer just left for savvy tech types to mull over in boardrooms or hipster cafes. Cryptocurrency and blockchains are making their way into other industries from music to automotive, and the sporting world is not excluded. Both of these are now making strides in the football industry and it can benefit everyone.

Football is often considered a language of the world. With millions of fans around the world, crypto and blockchains getting into bed with the sport is a smart idea. It will help forward the team to a mass market and help make crypto more of a mainstream option, rather than remaining unknown and mysterious to the public. With more people recognising crypto and seeing it endorsed by idols, it could increase the number of those investing in it, choosing a Luno Bitcoin wallet – and joining the conversation in those hipster cafes.

So, how are blockchain technology and cryptocurrency kicking off their football ventures?

Sponsorships and Advertisements

One way that crypto and blockchains are getting seen by football fans is through sponsorship and advertisements. One example is from the Internet of Things (IoT) company Hdac – also a subsidiary of Hyundai – who launched an Initial Coin Offering (ICO) during the FIFA World Cup in Russia. Other sponsorships can be seen on the shirts of some top clubs, including Wolverhampton Wanderers FC who are sponsored by Polish crypto exchange.

Another example can be seen in the English Premier League, the most-watched football league in the world. The league has agreed on a deal with investing platform eToro. Although the platform’s nine-million users are predominantly investing in stocks, the platform also offers the possibility of trading cryptocurrencies and is growing in popularity.

A Crypto Football Team

The first team to become a real crypto football club is Gibraltar FC. The team is directly merging the crypto environment with football by paying their players with crypto. This has come about because the owner of the football club is a crypto investor and has secured a sponsorship deal with a cryptocurrency company.

Players Creating Their Own Cryptocurrencies

One platform has been created to help people create their own digital coins, namely SelfSell. Football players today usually have side projects whether it be fitness brands or fashion labels. So, it is no surprise that players are also seeing blockchain and crypto as a new avenue for a side gig. James Rodriquez was one of the first to launch a coin called JR10 – although its purpose is not yet clear.

Another ex-player to launch a token is Michael Owen. The former England striker has releases OWN, priced at $10 per coin it is significantly higher than some established cryptos. Michael Owen himself has strong ties with the industry and is heavily involved with Singapore-based GCOX.

The ties between football and cryptocurrency are growing and this can only help forward the argument that crypto is a positive disruptive force for everyone.

Article title: How Cryptocurrency and Blockchain Are Changing the Football Industry

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