NFT+Social, a new “posture” for watching Euro 2021

As the world’s number one sport, what kind of spark will be generated by the combination of soccer and blockchain technology?

Euro 2021 is so different. 11 host cities are celebrating the 60th birthday of this event.

The 24 teams in the competition include 9 of the 10 European champions, 11 of the 13 teams that have reached the final of the Euros and 15 of the 17 teams that have reached the quarterfinals. This year’s European Cup is truly a “mini-World Cup”.

But did you know that blockchain technology can actually be applied to the soccer tournament?

As the world’s number one sport, soccer and blockchain technology together will produce what kind of spark?

NFT, bring new profit point for the tournament
NFT is a new breakout point in the blockchain field, and is considered to be the easiest development direction for blockchain technology to get out of the circle.

From 2020 to 2021, NFT shines, and according to NonFungible.com report, NFT sales exceeded $2 billion in the first quarter of 2021, with the total value in circulation already exceeding the entire year of 2020. NFT is indeed full of magic, and the momentum of development is rapid.

NFT+Social, a new "posture" for watching Euro 2021

The combination of NFT and soccer games is a very promising direction, after all NBA Top Shot has shown that there is enough enthusiasm for NFT. NBA Top Shot allows players to collect digital collectibles that are built around real moments/actions that happen during the NBA season.

NFT+Social, a new "posture" for watching Euro 2021

The success of NBA Top Shot shows the feasibility of casting NFT in the direction of using stars/event highlights as content.

Although different countries/regions have different focus on sports, soccer has always been the most influential in the world, and the appeal and purchasing power of top soccer stars is certainly no less than that of basketball stars. Therefore, the successful experience of NBA Top Shot can be fully replicated in the field of soccer events.

NFT+Social, a new "posture" for watching Euro 2021

Of course, the application of NFT in soccer events is not only in the direction of the player/event moment.

Simply put, NFT is suitable for all items with unique characteristics and can be seen as an on-chain identity ID for these items, a unique proof of ownership. nft is applicable to match tickets, jerseys, shoes, player autographs, etc. and is very collectible.

NFT+Social, a new "posture" for watching Euro 2021

The sports memorabilia market is a billion-dollar market, and counterfeit memorabilia is commonplace, driven by the profit motive.

By recording event memorabilia on NFT, each piece of memorabilia can be given a unique identity, and in addition to being able to closely track the transaction history of the memorabilia, it can also record major events that have an impact on the value of the memorabilia itself.

Immersed in every moment of the event and every corner of the surrounding area, the natural fit between NFT and sports events has developed a new use for blockchain as the underlying technology.

Fan pass, injecting new vitality into the club
Fan pass, also called community pass, is a specific crypto pass issued by the fan community and circulated within a specific group. The larger the fan community and the higher the cohesion, the more guaranteed the circulation of fan passes will be. This is an emerging form of pass that is creative and dynamic.

NFT+Social, a new "posture" for watching Euro 2021

Many European soccer clubs have issued their own fan passes. For example, Atletico de Madrid Fan Token (ATM) is the Atletico Madrid Fan Pass, Juventus Fan Token (JUV) is the Juventus Fan Pass, Paris Saint-Germain Fan Token (PSG) is the Paris Saint-Germain Fan Pass, and AS Roma Fan Token (ASR) is the Roma Fan Pass. Paris Saint-Germain Fan Token (PSG) is the fan pass of FC Paris Saint-Germain and AS Roma Fan Token (ASR) is the fan pass of FC Roma.

NFT+Social, a new "posture" for watching Euro 2021

Fans can earn Fan Passes for their favorite teams through some basic contributions, such as knowledge quiz, participating in team activities, providing advice to the team, actively speaking out in favor of the team, etc. Fans with Fan Passes are entitled to vote in team polls. Fans with Fan Passes are entitled to vote in team polls, and the more Fan Passes they have, the higher the weight of validity of their votes. So, the fan pass allows fans to participate to a certain extent in the team’s decisions.

In January this year, fans chose “Song 2” by the British band Blur as the song to be played during home goals for Juventus, the club where Cairo plays.

NFT+Social, a new "posture" for watching Euro 2021

Fans who hold a fan pass can even get some “special rights” of the team, such as the right to buy some limited official souvenirs, the right to get free tickets or buy tickets at discounted prices, or the opportunity to get close to their idols and get the latest news about the team’s development.

The fan pass is also a status symbol of “team fan”. Clubs, teams and fans work together to empower the pass, clubs and teams provide the application scenarios for the pass, and fans can gain power by holding the pass, thus increasing the cohesiveness and influence of fans and teams.

Fairness and transparency to solve the problem of counterfeiting
In 2006, a telephone recording revealed that Juventus general manager Moggi had close ties with certain officials within the football association, and that they had manipulated the referees for several matches. The scandal, known as “phone-gate,” involved not only Moggi, but also Juventus chairman Giraudo, Italian Football Federation vice president Mazzini and former Italian referee Pairetto, who were all involved in the scandal. Juventus general manager Moggi was sentenced to 68 months in prison.

NFT+Social, a new "posture" for watching Euro 2021

Many years have passed, but the cases of fraud on the green field have not disappeared and are even getting worse. An investigation by Greek media outlet SDNA confirmed that Greek giants Olympiacos FC were suspected of match-fixing in 2015, resulting in a lifetime ban from soccer for club owner Evangelos Marinakis, a €3 million fine for the century-old European soccer powerhouse, and a relegation of the team. With the epidemic raging, SVP sport reports that at least 22 matches are still being flagged by the Swedish Football Association as suspicious for fraud or falsification.

NFT+Social, a new "posture" for watching Euro 2021

The prosperity of the soccer industry has produced huge profit margins. Some people see the loopholes and keep exploiting them. Age falsification, performance falsification, salary falsification …… and even fake ball fraud, all kinds of cases are emerging. What can blockchain bring to the green field?

As a distributed shared ledger and database, blockchain has features such as decentralization, full traceability, traceability, collective maintenance, and openness and transparency. One of the core values that blockchain technology brings is “trust”.

Blockchain has reshaped the model of trust and no longer needs to rely on centralized endorsement. This value will also be reflected in the application of blockchain.

In sporting events, the group draw has been a repeatedly suspected of human control and underhanded operation. 2016, former FIFA President Blatter publicly stated that there was underhanded operation in UEFA’s draw, causing a huge shock in the football world.

NFT+Social, a new "posture" for watching Euro 2021

Blockchain technology can be used to ensure the fairness and transparency of the whole drawing process in the grouping draw of the tournament. You can number the teams participating in the tournament in advance, and then use blockchain to generate true random numbers and use its unpredictability to determine the grouping of teams, so as to ensure the fairness of the whole drawing process.

Of course, the application of trust value certainly does not stop there.

Personal information and performance of players has always existed in the form of centralized storage such as archives and documents. The disadvantage of centralized storage is that it is cheap to tamper with but expensive to verify. Most clubs do not have a dedicated department or personnel for checking this kind of information, which directly leads to the fact that some and institutions will take advantage of such loopholes.

If this information is stored using the distributed storage of blockchain, it is a different story. By uploading the information of players and tournament results to the chain, which is openly traceable and untamperable, this information can give a reliable reference data to the clubs that need to introduce players. Meanwhile, once the blockchain technology is commonly applied, the growth of players will be more truly and reliably reflected through the data. And the authenticity and efficiency brought by these data and data will be of great value to the whole soccer industry and sports industry.

The sports industry is the fastest growing industry as humanity enters the second decade of the new century.

According to PR Newswire, the market value of the global sports industry is growing at a compound annual growth rate of 8.1% per year and will reach $2,534.65 billion by 2024.

Blockchain technology can re-empower the sports industry, reshape the value system of the industry, fundamentally change the logical way of the traditional sports industry based on personal trust and institutional trust, break the barriers of value circulation, and bring new vitality to the global sports industry.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/nftsocial-a-new-posture-for-watching-euro-2021/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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