Football finance expert Kieran Maguire believes that clubs that have been clinging to cryptocurrencies as their income from other sources are starting to level off after a steady rise for decades.
Sports franchise is not only looking for bonuses and other benefits associated with it, but also exploring other ways.
Discover new revenue streams
The Guardian quoted Maguire as saying, “Football clubs have realized that we are currently hitting maximum broadcast revenue, with the most modest growth being expected.”
As far as trade sponsors are concerned, we’re seeing renewed deals but no additional funds. The only way to increase sales for the day is to raise prices, and fans are reluctant.”
As FC Barcelona play the 2021 Spanish Super Cup final, the trophy isn’t the only prize at stake. Fans are also watching the market for FCB’s “fan token”, the club’s very own cryptocurrency. Socios has promised to “burn” 20,000 tokens for every goal Barcelona score – and 40,000 if they lift the trophy.
Even Binance is reportedly trying to explore the fan token market, showing that there is room for growth, especially since only a few dozen institutions have entered the market in any way. which is remarkable.
Fans buy tokens for rewards associated with it
Pedro Herrera, a senior blockchain analyst at DappRadar, said that most fans buy tokens for associated rewards, such as votes for which track to play after a goal or participation in a match. tie to win an autographed shirt.
He said, “It’s a win for the fans because they feel more involved; it’s a win for the team because it adds an extra layer of monetization and it’s a win for [crypto] industry because you capture the masses and get one step closer to mass adoption. “