Numerous sectors have begun to use blockchain, but sports seem to be leading the charge. There are several reasons why blockchain has taken off in the sports industry, but the introduction of non-fungible tokens (NFTs) and fan tokens are now a significant element.
Sports teams can monetize their fan base and increase fan engagement with the use of blockchain technology and NFT. Prominent sports teams and leagues throughout the globe are already using blockchain technology in their digital operations (e.g., Manchester City, Barcelona, PSG, and the MLS). Moreover, various major sports leagues and sports organizations, including the MLB, NBA, MLS, UFC, and WWE, have implemented NFT initiatives sighting massive potential of the NFT sector.
It’s not only current NFT and blockchain firms that athletes and clubs are collaborating with; they’re establishing their NFT marketplace as well. Tampa Bay Buccaneers quarterback Tom Brady has announced launching his own NFT marketplace called Autograph, which will cooperate with some of the most well-known sportsmen and celebrities to generate digital artefacts and even real-life encounters. Among the most prominent sports-related NFT marketplace is NBA Top Shot, which Dapper Labs, a blockchain firm, developed.
Fan Tokens are fungible digital utility tokens created and used on a specific blockchain that offer fans access and influence over certain decisions made by their favorite sports teams, VIP rewards, special promotions, and other benefits. Fan Tokens are yet another application of blockchain technology in sports, gaining attention.
Recently, D.C. United has signed a three-year agreement with XDC Network, a blockchain technology company. No other significant American sports team and blockchain network have collaborated on this scale before. As a unit, they’ll provide D.C. United fans with unprecedented access and opportunities in Major League Soccer (MLS). All home and away kits, as well as training tops, will incorporate XDC Network from the start of the 2022 MLS season.
NEWS: D.C. United Announce First-of-its-Kind Partnership with Leading Blockchain XDC Network🗞️➡️ https://t.co/EONXqNHMkb
— D.C. United (@dcunited) February 22, 2022
Danita Johnson, President of Business Operations for D.C. United said:
“Our partnership with XDC Network enables us to present more meaningful fan experiences using their cutting edge blockchain technology and create rewarding engagement opportunities for our ever-growing Black-and-Red community.”
Cryptocurrency project XDC Network is a significant player in the fast-growing blockchain sector. The XDC Network is an enterprise-ready Layer 1 blockchain built to enable a wide variety of unique blockchain use cases quickly. Whereas, one of the original and most acclaimed teams in Major League Soccer, D.C. United has won 13 domestic and international championships since its inception in 1996.
Visit here and also follow the team on social media @dcunited for the latest news, club updates, and ticket purchases.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
