With the news that FC Bari has agreed to become the first Italian club to join the London Football Exchange to access the loyal fan engagement and equity solutions scheme it is further evidence of how blockchain technology presents a rising wave which will enable fan engagement on an unprecedented level.
The LFE Exchange will be the first ever football stock exchange that offers fans the opportunity to buy shares of football clubs built on blockchain. This is in addition to being a one-stop shop for clubs of all sizes to raise capital via equity sales in addition to offering LFE contributors a wealth of fan experiences and social interaction.
It is extremely exciting to see football clubs starting to embrace the model, and no doubt we will see more and more clubs recognise the opportunity it presents for clubs and for the fans. A definite area of concern might be the level of maturity of the sports industry to create effective governance models around it. What cannot be disputed however is the speed of business technology innovation and that the sports industry continues to be a consistent, commercially attractive content hub.
We are also starting to see sports sponsorships traded in exchange for Cryptocurrency as NASCAR Xfinity Series drive Brandon Brown will see his car sponsored by new coin and marketplace, CONO. This adds to the news that Arsenal have signed a deal with the US Cryptocurrency CashBet, which will see the Premier League club promote the firm’s initial coin offering at the 60,000-seat Emirates Stadium.
Although many investors remain wary of Cryptocurrency, we are beginning to see it increasingly involved in both traditional and fantasy sports markets. As confidence grows in the blockchain technology underpinning it all, it is only likely to further its reach.