While before, a few years ago, while cryptocurrencies were still a small, some can even say artisanal project of sorts with units of said currencies could be bought for pennies on the dollar, their future was full of uncertainty and doubts. Nowadays though cryptocurrencies are becoming more and more of an economic power with their value and importance shattering the previous and negative perceptions. In today’s world cryptocurrencies are accepted for everything, from paying house bills, shopping, online betting, and now also in the sports industry.
While some of the other main economic industries in the world have started to fully embrace the idea of dealing with cryptocurrencies, the sporting world is still taking small cautionary steps towards taking the leap. But with cryptos gaining more and more strength and credibility as time goes by, the question is, when will sports finally embrace cryptocurrency usage to the fullest extent?
Teams Should Finish Welcoming The Idea Of Digital Tokens
Ok so here’s a scenario, you’re a sports fan, loyal, always present and always wanting to be on point with anything and everything your team has to offer. From going to events, getting the official merchandise, following up on their news, you want to be a part of all of it. With the irruption of cryptocurrencies and their respective channels of distribution and handling, like blockchain companies, digital fan tokens, in which fans can do their sports dealings through cryptos are now a thing.
These tokens are created by blockchain crypto management companies for teams to be able to offer fans a more up close and personal experience with the team. By having digital tokens fans are now able to have special access to certain commodities that regular fans might not be able to obtain. From VIP rewards and being part of special team promotions up to being allowed to have a certain influence over voting in decisions that the club makes in regards to their functioning, through the purchasing of digital tokens fans are now able to feel like they’re a more important and personal part of the team. While the decisions made are along the lines of selecting uniforms prior to a match and deciding who the MVP of any particular game is, by giving fans these small doses of power of decision, everyone comes out a winner.
Major soccer clubs like Italian giants Juventus and FC Barcelona have all started issuing their crypto digital tokens for fans to purchase. In the US, organizations like the UFC have already jumped into the craze teaming up with Chiliz, a crypto management company to launch their own digital fan token. Chiliz, a major player in this scene has also started making bigger and bigger strides into trying to be the front runners for delivering this same service for leagues like the NFL, NBA, NHL, MLB and MLS.
Salaries In Crypto For Athletes, Something To Finish Establishing Now
What at first was thought out as a mere publicity stunt from former Carolina Panthers player Russell Okung, was not that at all. While playing with the Chargers, Okung asked the team to pay him his salary in bitcoin, the world’s most popular cryptocurrency. That request was denied, but it helped spark a fuse into the whole idea of players being allowed to pick in which form of currency they would want their salary to be paid. Once Okung moved to the Panthers, Carolina accepted the player’s request and he got paid half of his $13 million salary in bitcoin through a crypto currency management company called Strike.
Since that teams like the Dolphins in the NFL, plus the Mavericks and Kings in the NBA have all opened up to the possibility of allowing players to receive their earnings in cryptocurrencies. Many players have seen this as a perfect opportunity to invest in cryptos towards the future. Investing in cryptocurrencies has become a way for athletes to be able to have a closer and personal approach to how their deals are made be it for sponsorship contracts, professional contracts or investments given the level of security and privacy offered by crypto management companies.
Online Sports Betting Will Become Even Easier
With many states across the US legalizing the activity of online sports betting, companies that work in that field of sports entertainment have taken to cryptocurrencies as their new “it” thing to lure more and more new customers in. Given the facilities that these digital currencies offer in the field of personal data management as well as transaction security, offering the opportunity to pay and wager with cryptos has become a top line commodity and priority that all the best online betting companies offer.
Disclaimer: Any financial and crypto market information given on iconshots.com, written for informational purpose only and is not an investment advice. The readers are further advised that Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Conduct your own research by contacting financial experts before making any investment decisions. We do not represent nor own any cryptocurrency, any complaints, abuse or concerns with regards to the information provided shall be immediately informed here.
Photo by Tima Miroshnichenko from Pexels
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