Blockchain In Sports: Early Achievements In Decentralization Of the Competition Industry

Sports organizations, federations, and promotions are starting to understand this by moving in the right direction
Blockchain In Sports: Early Achievements In Decentralization Of the Competition Industry
Image credit: Freepik

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
Tech entrepreneur, researcher and editor at Startup Fortune
5 min read
Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

The number of business and management areas that are starting to use blockchain technology has grown exponentially in recent years. The clear benefits of decentralization, which include improved security, a peer-to-peer model, and financial benefits, appeal not only to payment institutions but also to business and entertainment.

Data registries are transferred to the blockchain, AI is connected to it, blockchain promises to become a reliable platform for the Internet-of-Things, as well as to protect personal data in the next generation of social networks, and remove intermediaries on marketplaces and exchanges. In addition, game designers, artists, and representatives of the sports industry are experimenting with various areas of blockchain. And we will talk about sports below.

Decentralized fitness apps have spearheaded the development of blockchain in the world of sports. Fitness trackers designed for mobile devices used a decentralized model for storing and processing personal data of users, monitored health status, accepted payment for new functions, or personal online consultations in crypto tokens. Some of these apps rewarded users for achievement and results by encouraging them to stay strong and active.

The advantages of this approach are the independence of the network from traditional financial institutions, access to people from all over the world, the ability to make money on investments in tokens, and secure storage of personal data on the blockchain.

But the potential of blockchain in sports goes far beyond the fitness industry. The most popular disciplines such as boxing, football, hockey, MMA, and others can greatly benefit from a decentralized model of interaction with industry representatives.

This makes us wonder: how can the world of big sports benefit from blockchain technology? The fundamental pillars of the blockchain are trust, transparency, decentralization, and equality of network participants. In such conditions, the participation of third parties - intermediaries, fades into the background. This approach will not only reduce costs but also provide a new level of fan trust, as well as simplify interaction with investors, providing them with transparent investment opportunities.

For sports fans, the main benefits of blockchain platforms will be equal and fair access to tickets, as well as fair prices. Within a decentralized network, there are no differences between participants, and they cannot use their political, social, or any other status to gain superiority over the rest. And in sports, where tickets to popular matches are often the subject of speculation, this is very important.

Sports organizations, federations, and promotions are starting to understand this by moving in the right direction. Some football clubs are experimenting with their cryptocurrency tokens, which allow you to pay for tickets, buy merchandise, take part in exclusive activities, and more. Equally important advantages of issuing coins are the high liquidity of an asset if it belongs to a popular club. And the creation of services, payment for which is possible only in these tokens, increases the demand for coins and brings passive profit to investors, as well as to all members and fans of the club/team/promouter.

Following football and fitness, blockchain experiments appear in the world of MMA. AMC's "Fight Nights" promotion recently announced the launch of its own cryptocurrency token, designed to unite viewers, fighters, advertisers, and promoters into a united peer-to-peer system.

АМС Fight Nights Global— it is the largest MMA promotion company in Europe, Russia and the CIS countries—in which world-class fighters take part. The main goals of the organization are called attracting investments in AMC Fight Nights for the development of sports and reaching the world level, as well as building decentralized solutions with provable honesty for investors and members of the AMC Fight Nights ecosystem.

Holders of the AMC token are promised maximum discounts on tickets to all AMC Fight Nights tournaments, the opportunity to participate in private club events and reality shows, as well as discounts on merchandise and much more.

In addition to commercial purposes, with the help of the new platform "AMC Fight Nights" they plan to create a "Fund to support veterans and disabled combatants"

AMC has already launched a token pre-sale on the following terms:

Stage 1 - AMC token price $0.20. Freezing of tokens for 1 year after listing on the exchange. Max. deposit $1000

Stage 2 - AMC token price $0.40. Freezing of tokens for 6 months after listing on the Max exchange deposit $1000

Stage 3 - AMC token price $0.80. Freezing of tokens for 1 month after listing on the exchange (until August 02, 2022). Max. deposit $3000

The starting price of listing on the exchange: $1.

Obviously, it is extremely profitable to purchase an AMC token on pre-sale. All that remains is to choose your strategy: buy at a cheaper price, get a long freeze, or take a higher price, but with a minimum blocking time. It's up to you to decide!

You can join the project and become in the forefront of mixed martial arts (MMA) tokenization by following the link.

Latest on Entrepreneur