Can an industry like sports take advantage of the blockchain technology? The answer is ‘Yes.’
Blockchain has received friction in the world of sports in recent months. Earlier in January, news developed that the National Basketball Association’s Sacramento Kings will shift off a live auction for gear with a blockchain-based app. The platform purportedly validates auction items, mending problems that have long bothered gearhungry fans.
Last year, the Italian luxury sports car brand Lamborghinistarted utilizing Salesforce Blockchain to track, certify and authenticate heritage Lamborghini cars quicker and more securely employing its blockchain platform.
Malta-based sports blockchain venture Chiliz announced that it is launching a cryptocurrency exchange for sports and entertainment tokens.
Lancashire sales director John Nuttal explained that online ticketing has become increasingly popular in recent years, so it’s time to introduce the latest technology that can protect customers from fraudsters selling fake tickets.
In August 2018, the Union of European Football Associations (UEFA) first sold tickets for the match between the Spanish teams of Real and Atlético through a mobile blockchain application, and last month announced a partnership with AlphaWallet to tokenize tickets for the 2020 European Football Championship.
According to a Feb. 17 announcement, UEFA will distribute over one million soccer match tickets via a blockchain-enabled mobile application. The organization claims that this new ticketing system will make “entry into the stadium smooth, safe and secure.” The new blockchain-based mobile ticketing solution is meant to prevent the duplication and replication of tickets by “QR codes only being activated by Bluetooth once fans are in close proximity to the stadium.” The app will be available for download toward the end of May for both Android and iOS devices.
Tickets will be delivered no later than seven days before the match and “UEFA expects to deliver over one million mobile tickets to fans across all 51 matches.” UEFA decided to adopt this system in an attempt to facilitate ticket distribution to what is expected to be the most in-demand UEFA cup ever.
In the future, the blockchain opportunities for the sporting world look promising though it is yet to reach its full potential. Those who want to stay ahead of the game in the sporting world should embrace the innovative opportunities blockchain has to offer.