The multi-billion dollar Sports & Entertainment industry is increasingly regarded as a considerable area of potential opportunity and growth for cryptocurrencies. As such, it is no surprise to hear that The NFL Players Association (NFLPA) has sealed its support and made an important investment in a cryptocurrency start-up called SportCastr.
“Not only is the coming together of sports and cryptocurrency sustainable, it may be the most important pairing that cryptocurrency has seen to date.” SportsCastr CEO, Kevin April
SportsCastr, a live video platform enabling users to set up their own video streams and provide commentary on any sports match, has announced that they are introducing a cryptocurrency start up called FanChain. The reason behind the launch of a cryptocurrency is to offer the users a way to participate on the platform. Users will be able to unlock NFL player content, access back stage videos, purchase match tickets and even gift their favourite NFL player.
“SportsCastr will allow NFL players to broadcast live events while earning tokens directly from fans. It is all about engagement; players want to engage directly with their fans. SportsCastr provides a unique platform for NFL players to do just that.”
Casey Schwab, Vice President, Business and Legal Affairs, NFLPA
SportCastr’s founders and advisors include NBA Commissioner Emeritus David Stern, Coach Jim Boeheim, NFL TE Vernon Davis, and NBA TV sports caster Steve Smith, to name a few. SportsCastr is the first platform to support FanChain, but with its aims set on being the first example of an athlete-driven accelerator, it’s decentralized architecture will allow third-parties (such as athletes, teams, leagues and sports-media) to join and grow the FanChain ecosystem. This is just one further major example of the increasing trend in crypto-related sports collaboration.
This week the English Premier League team Wolverhampton Wanderers signed a sponsorship deal with crypto exchange platform CoinDeal, and recently Gibraltar United soccer team made the decision to pay their players using Crytocurrency. These trends are not just with associations and teams, but increasingly with athletes too. Major players and household names such as Ronaldhino, Michael Owen and Didier Drogba, as well as boxing legends Floyd Mayweather and Manny Pacquia, have joined forces with crypto/blockchain start-ups.