NERDBOT
    Facebook Twitter Instagram YouTube
    Subscribe
    NERDBOT
    • News
      • Reviews
    • Movies & TV
    • Comics
    • Gaming
    • Collectibles
    • Science & Tech
    • Nerd Culture
    • About Us
      • Want to Write for Nerdbot?
    NERDBOT
    Home»Technology»Business»Cryptocurrency Rising Into Popularity
    Unsplash
    Business

    Cryptocurrency Rising Into Popularity

    Nerd VoicesBy Nerd VoicesAugust 13, 2021Updated:August 13, 20215 Mins Read
    Share
    Facebook Twitter Pinterest Reddit WhatsApp Email

    Cryptocurrency gained traction following the introduction of Bitcoin in the year 2009. The continuous growth of the cryptocurrency market, plus the exciting fact that the digital asset can be bought and mined using sophisticated hardware, enticed mass attention. Cryptocurrency exchanges and platforms also transcend international borders because of their decentralised nature. This feature of cryptocurrency fueled its fame globally.

    Cryptocurrency enthusiasts are looking at other industries that may soon adopt the evolving digital asset. Opportunities presented by cryptocurrency are no longer limited to investments and day trading. Financial institutions and international banks are adopting the blockchain technology of cryptocurrency as part of their digitisation. Big tech companies also announced their plans to integrate cryptocurrency as part of their payment systems. Companies and traders acknowledge the high-risk potential of cryptocurrency and other digital assets because of its market volatility. However, historical statistics of Bitcoin and other cryptocurrencies may offer substantial revenue and investment gains. The use of trusted exchange platforms, careful data analysis and rigorous trading methods is highly recommended. 

    Blockchain technology and promising revenue of digital assets are now reaching the world of sports through soccer. The football industry is looking into the crypto market ever since it rose to fame. Different sports franchises now realised the substantial potential to generate income and engaged soccer fans worldwide through cryptocurrency. 

    Football Industry’s Resilience Through the Pandemic

    Numerous soccer teams are now implementing digital measures to bounce back from their losses caused by the global pandemic. Football franchises are launching digital coins that can be used to engage extensively with soccer fans. 

    Cryptocurrency exchange platforms offer transactions using football tokens to fans and also gained the attention of professional traders and investors. Consequently, football tokens’ price movement is also rapidly moving. Occasionally this is because of football match outcomes or sometimes just because of the hype trading of other non-football-fan investors. 

    Football merchandise in the form of crypto, through football tokens, is a significant hit. This became their way to support the football clubs and teams because of the no-audience policies during games. Ticket sales of top-20 revenue-generating teams dropped to 8.2 billion euros (12%) in the 2020 fiscal year. Thus, football tokens had helped the football industry to thrive and stay afloat amidst the global crisis. 

    The Football Teams

    One of the biggest football clubs in the world, relating to market value, FC Barcelona, entered the scene of crypto, pre-pandemic. FC Barcelona launched their crypto token, $BAR, last February 2020. Having the largest fan bases in the football realm, they wanted to expand their digital presence and exceed international borders. 

    PSG and JUV tokens of the Paris Saint-Germain and Italian Juventus football clubs were launched last December 2020. And in just 24 hours of listing, both tokens surged from 80% to 160%. Sports analysts and experts associate these surges into the tokens privileges like match day tickets, digital badges and exclusive football experiences. 

    Italy’s AC Milan followed the venture of FC Barcelona in entering the crypto market. They launched their football fan token, ACM, last January 2021. The Italian team’s strategic move aims to optimise their digital presence and reach out to fans, despite the challenges of worldwide lockdowns. Manchester City, English Premier League champions, also launched their $CITY fan token last March 2021. 

    The most recent cryptocurrency venture is by Argentina. Just right after they kicked off with the Copa America campaign, which resulted in a draw, they launched their ARG football fan token. Argentina is the first national team to ever launch a football token. Argentina’s football token was immediately picked up by fans and sold out in just 30 seconds. 

    Spain’s national football team also announced its plan to unveil its football fan token by the mid-part of 2021. The national football team partnered with a Turkish blockchain company to support them in their crypto industry journey.

    Crypto and Football

    Football franchise owners explain that football tokens helped the engagement of football fans and clubs throughout the pandemic. It provides the fans with a whole new football experience despite the unfortunate circumstances that global lockdown gives. 

    The pioneer of football fan tokens is just the tip of the iceberg for the sports industry. In some sports, teams are already offering their players and staff salaries in digital currencies. Other sports are already accepting cryptocurrencies as a mode of payment for merchandise and tickets. Non-fungible tokens (NFTs) in basketball game highlights are already available for fans and investors to buy and trade. 

    Malta-based crypto-technology firm and other worldwide blockchain companies are partnering with different soccer clubs to widen the reach of crypto in football fan tokens. These crypto-technology companies are paying a fee to soccer clubs and share revenue from the initial sale of the tokens. Soccer clubs and crypto firms are now targeting a $200 million revenue for 2021. 
    At present, there are already 21 football tokens in the crypto market. Blockchain companies also launched crypto tokens representing other sports like motor racing and mixed martial arts. Reportedly, the market value of football tokens actively being sold and traded is capped at $260 million.

    Author

    Nerd Voices
    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email
    Previous ArticleBuild-A-Bear’s New Pokémon Eeveelution is Espeon!
    Next Article The Three Layers of Cryptocurrency Exchange
    Nerd Voices

    Here at Nerdbot we are always looking for fresh takes on anything people love with a focus on television, comics, movies, animation, video games and more. If you feel passionate about something or love to be the person to get the word of nerd out to the public, we want to hear from you! Visit the "Write For Nerdbot" Tab Above to learn more!

    Related Posts

    How professional pest control companies get rid of bed bugs

    January 28, 2023

    Is there a way to avoid casino verification?

    January 27, 2023

    Top 8 Bitcoin Wallets That Guarantee Anonymity

    January 27, 2023

    Here Are 10 Things to Look For While Hiring a Nursing Assistant

    January 27, 2023

    Basics of software development for beginners: what do you need to know to start your first project?

    January 27, 2023

    Where to Find the Best New Online Casinos in Canada

    January 27, 2023
    • Trending
    • Latest
    • Movies
    • TV

    Christian Activist Suing The NFL For $867 Trillion Over Half-Time Show

    February 5, 2020

    Marvel Eyeing GOT Star Nathalie Emmanuel To Play The MCU’s Storm

    June 27, 2019

    Rumor: Charlie Hunnam In Talks For New Wolverine Movie

    May 20, 2019

    Scientists Are Actually Trying to Open a Portal to a Mirror Universe(Yes Really)

    December 28, 2019

    How professional pest control companies get rid of bed bugs

    January 28, 2023

    J.Lo’s “Shotgun Wedding” is an “I Don’t” [Review]

    January 27, 2023

    Tobey Maguire Would LOVE to Do 5th “Spider-Man”

    January 27, 2023

    Jay Leno Suffers Another Accident- Multiple Broken Bones

    January 27, 2023

    J.Lo’s “Shotgun Wedding” is an “I Don’t” [Review]

    January 27, 2023

    Tobey Maguire Would LOVE to Do 5th “Spider-Man”

    January 27, 2023
    "Children of the Corn"

    “Children Of The Corn” Remake Finally Gets Release Date

    January 27, 2023

    Ayo Edebiri Joins Marvel Studios’ “Thunderbolts” in Mystery Role

    January 26, 2023
    "Jay Leno's Garage"

    Jay Leno’s 30-Year NBC Run Comes to an End

    January 27, 2023

    Phoebe Waller-Bridge Writing Amazon’s “Tomb Raider” Series

    January 27, 2023

    “Frasier” Revival Reveals Son of Niles and Daphne

    January 27, 2023

    HBO Orders Season 2 of “The Last of Us”

    January 27, 2023
    Related Posts

    None found

    San Diego Comic-Con
      • auction
      • carnivorous plant
      • dinosaur
      • pennyworth
      • San Diego Comic-Con
    NERDBOT
    Facebook Twitter Instagram YouTube
    © 2023 NERDBOT Media

    Type above and press Enter to search. Press Esc to cancel.