To what extent can sport be strengthened with cryptocurrencies

[stomachgrowls]

Well, it is something that is present and is here to stay, different sports are already glimpsing what may be the future of cryptocurrencies in the promotion of events, I have seen a racing car with the bitcoin logo, the events mentioned above and recently it is surprising to see a traditional logo of the forum on the screens of Espn for example:
~

Litecoin did something similar a year or two ago... they sponsored some UFC games as I remember! I agree with you, it's something that's already around, and it's not only it's here to stay, I believe it will be a lot bigger! Crypto logos will be everywhere around!
All this is only a beginning, we see it here and there... just try to think about few year years back, things like this were impossible to imagine, and look where are we now! So try to imagine what can happen in the next 5-10 years! I guess total madness, crypto will take a lot more space than it takes now!

When do it comes to adoption then this market is really getting recognition and attention as years passed.We know on how blockchain tech did really make out significant impact on certain industries and now

it do take some part on gambling industry which it isnt surprising that we do really make this big even though not that rampant nor can be seen on every corners but at least we are really seeing it gradually.

If you are a crypto enthusiast then you can easily spot out those logos and banners neither on a sports venue or simply into those advertisement where you can directly distinguished.

[samcrypto]

we are in times when the blockchain through cryptocurrencies is entering a new moment for sports, before which and how far will we advance in this new scenario?

That's depend on what blockchain technology you'll use because they all have different function and services they offer. In sports there's no match to record aside from their financial transactions, since this is a sports blockchain technology might not help that match a team. Cryptocurrency can be use as a salary as well but it will depend for the players if they are going to accept it or now, some developers are already working on this for sure.

[RealMalatesta]

we are in times when the blockchain through cryptocurrencies is entering a new moment for sports, before which and how far will we advance in this new scenario?

I have always said that scouting should be done with blockchain but nobody really cared about it. How could it be? Well, there are hundreds of different sports but let's take football for example, which is the most known and watched sport in the world. If you could build a project that collects all the data from every person and pay those people the token for contributing, you could have every single person as a good scout for you. Obviously some people may want to put up 10's all around for a player it is because their own player, they are fans, they are family or whatever reason but in that case you would be basically cutting that person out and not allow him to ever scout again.

So, let's say there is a player that deserves to be a 12 level out of 100, and you gave him 100, then 10 other people watched him and gave him between 10-20, then you will be banned because you gave him 100, even over 30 means you get a penalty but can keep going. So just turn scouting into this and you can have millions of scouts working to get players information and give it to teams in exchange of tokens.

[fullhdpixel]

we are in times when the blockchain through cryptocurrencies is entering a new moment for sports, before which and how far will we advance in this new scenario?

There are already platforms offering sports betting and some of them have partnerships with big teams and players/athletes as well so it indeed helps.

Sportsbet.io has so many partnerships with football clubs and they even offered some t-shirts for the players. Stake has partnered with UFC and some of their fighters and have offered gloves to lucky players.

I think crypto moving forward can strengthen sports and various partnerships with players and teams are only going to help the cause further. It has only been a few years since crypto sports betting has existed so big things must be coming with more and more new ones coming and older ones being established even more.

There was the stake logo and dogecoin on the UFC mat a few weeks ago, I remember, so things are looking good.

[CryptocurencyKing]

One thing is for sure, sports betting does help sports as an activity in terms of sponsorship and again, adverts on the sports betting platform itself amongst other things. So, with bitcoin being a payment media for sports betting and the fact that, one can have a go at funding of his account without needing having the transaction reflect on any local bank details, it not only brings money into the sporting betting platform but in turn, makes the funds for sponsorship and advertising available.

Again, sports bettialso brings yo the platform the possibility of bitcoin being a media of payment in the sports field and should players be paid in bitcoin coupled with the volatile nature of the bitcoin, a players with every payment has a potential investment on them and stands the chance to earn ROI. Its really a killing 2 birds with 1 stone sort of thing.

[adzino]

What do you mean by "sports be strengthened"? Are you talking about sports betting? People can already bet using crypto currencies. There are many casinos that allows sports betting. You can even bet on e-sports games. Those sportsbooks are just the same. Instead of betting with fiat currency, you now just have to place bets with bitcoin or other supported altcoins. I don't see any other way the "system" can be improved. It is perfect as it is now. But I have heard there are some "tokens" or projects that solely focuses on sports gambling.

[Webetcoins]

Litecoin did something similar a year or two ago... they sponsored some UFC games as I remember! I agree with you, it's something that's already around, and it's not only it's here to stay, I believe it will be a lot bigger! Crypto logos will be everywhere around!
All this is only a beginning, we see it here and there... just try to think about few year years back, things like this were impossible to imagine, and look where are we now! So try to imagine what can happen in the next 5-10 years! I guess total madness, crypto will take a lot more space than it takes now!

This was indeed so cool and refreshing to see. I actually missed the fight night but there was a lot of talk about this in the stake's chat and I checked twitter when I finally noticed what all the fuss was about. Crypto casinos and sportsbooks have a lot of money to spend and honestly it is about time when we see more such partnerships and sponsorships with big organizations like UFC.

IMO cryptocurrencies have had a large impact on sports sponsorship, majorly through sports betting. In the US alone the revenue from sports betting has tripled since 2018, it could most certainly be linked to the emerging number of online bookies that deal with cryptocurrencies, thus making it easier for people to make bets. Though we'll never know for sure.

The revenue from sports betting tripled might have more to do with the covid-19 than it has to do with the crypto bookies, I think. But you are right with crypto almost anyone can bet because the traditional bookies require KYC and all those things and a lot of players don't want to give their documents to an online gambling site.

[agustina2]

we are in times when the blockchain through cryptocurrencies is entering a new moment for sports, before which and how far will we advance in this new scenario?

For how far, no one knows. But one thing for sure, a positive one.

The integration of crypto into a sport is a good thing as it helps promote the sports, like if there's an event/s and for crypto in general - benefits and advantages.

With that, the target audience becomes wider and wider, and expect that it will bring impact to the awareness of crypto globally.

[FIFA worldcup]

we are in times when the blockchain through cryptocurrencies is entering a new moment for sports, before which and how far will we advance in this new scenario?

Currently mostly sports gambling is taking place in bitcoin but i don't see any adoption of blockchain technology in sports.

I understand that there are few players who wanted to accept bitcoin for their salaries but this trend is not growing right now.

[chaser15]

we are in times when the blockchain through cryptocurrencies is entering a new moment for sports, before which and how far will we advance in this new scenario?

Do you mean cryptos shown on sports like in Football, or any sports?

It's just more of advertising the company related to crypto but not the crypto itself. Do you see a sport already where it was advertising or showing a banner of Bitcoin, Etherium, Litecoin on the event place or venue? As from what I noticed, the one advertised was a crypto-related company like exchanges or trading platforms.

Having the companies name shown at these sports, especially during the big event like championships, will be seen by a large audience so it's a great promotion for the company.

[ralle14]

What do you mean by "sports be strengthened"? Are you talking about sports betting? People can already bet using crypto currencies. There are many casinos that allows sports betting. You can even bet on e-sports games. Those sportsbooks are just the same. Instead of betting with fiat currency, you now just have to place bets with bitcoin or other supported altcoins. I don't see any other way the "system" can be improved. It is perfect as it is now. But I have heard there are some "tokens" or projects that solely focuses on sports gambling.

OP probably meant overall but more on getting involved with the big leagues which was mentioned by some of posts above, in a way sports betting did help as some of the crypto sportsbooks formed some type of sponsorship between the popular teams.

Do you mean cryptos shown on sports like in Football, or any sports?

Most likely in any sports.

[robelneo]

we are in times when the blockchain through cryptocurrencies is entering a new moment for sports, before which and how far will we advance in this new scenario?

We are in the adoption and integration period and so far it is doing well in integration, we have seen a UFC Champions becoming their ambassador, in the future, the sporting industry will acknowledge the contribution of Cryptocurrency and they will co-exist and adapt to each other, to strengthen both communities, both will have advantages on having each other.

[Smartprofit]

I think we will soon see that the largest crypto projects have become the main sponsors of sports tournaments. 

On the sportswear of the players, we will see advertisements for Tari, Ethereum, Ada (Cardano), Atom (Cosmos), Solana, and many others.

It will be very interesting to see the symbiosis of traditional sports and web 3.0. It will become common practice for athletes to receive tokens of various projects (in the form of fees). 

A sports team in the form of a DAO (Decentralized Autonomous Organization) is it possible?  In my opinion - yes!

[carlisle1]

we are in times when the blockchain through cryptocurrencies is entering a new moment for sports, before which and how far will we advance in this new scenario?

We are in the adoption and integration period and so far it is doing well in integration, we have seen a UFC Champions becoming their ambassador, in the future, the sporting industry will acknowledge the contribution of Cryptocurrency and they will co-exist and adapt to each other, to strengthen both communities, both will have advantages on having each other.

The collaborations is really doing well, and with that example about UFC as ambassador it will be noticed by more sports,
the adoptions are growing and it really helps both ends.

The acknowledgement will soon reached more market and it will embrace each other for more progress and developments,

for now those sponsorships and advertisements coming from crypto related casinos are making its way.

[Wexnident]

I think we will soon see that the largest crypto projects have become the main sponsors of sports tournaments. 

On the sportswear of the players, we will see advertisements for Tari, Ethereum, Ada (Cardano), Atom (Cosmos), Solana, and many others.

It will be very interesting to see the symbiosis of traditional sports and web 3.0. It will become common practice for athletes to receive tokens of various projects (in the form of fees). 

A sports team in the form of a DAO (Decentralized Autonomous Organization) is it possible?  In my opinion - yes!

I'd actually want to see a sport made out of the premise of crypto tbh. Integration of crypto towards sports betting and payments is just a matter of time imo, Making a sport, on the other hand, that has crypto as its own core (idk the specifics, but yea something like that) is something I'd actually love to see.

Advertisements should be in the foreseeable future, maybe around 4,5 years I guess? Adoption towards countries have been happening in the past few months, so that time span shouldn't be unrealistic imo.

[dimonstration]

I think we will soon see that the largest crypto projects have become the main sponsors of sports tournaments. 

On the sportswear of the players, we will see advertisements for Tari, Ethereum, Ada (Cardano), Atom (Cosmos), Solana, and many others.

Exchanges already do sponsor some events related in online gaming, soon many altcoins or project can use the popularity of the live events by sponsor some events in sports too. However-it will be better if the projects who will sponsor it also have something related about the sports. Before there are many ICO projects related to sports hopefully they can find some budget to remodel and market their projects and aim success.

[LUCKMCFLY]

we are in times when the blockchain through cryptocurrencies is entering a new moment for sports, before which and how far will we advance in this new scenario?

We are in the adoption and integration period and so far it is doing well in integration, we have seen a UFC Champions becoming their ambassador, in the future, the sporting industry will acknowledge the contribution of Cryptocurrency and they will co-exist and adapt to each other, to strengthen both communities, both will have advantages on having each other.

Not only is blockchain successful in the UFC, a new era will also begin in football where many cryptocurrencies will surely participate, there is in fact a football team sponsored with crypto, in addition to the fact that El Salvador has adopted Bitcoin, it means that in a very short time the country's entrepreneurs will look for the best way to advertise and since Bitcoin is the boom, those who take it as their first option will have much more vision, in addition another country that is adopting Bitcoin will be Paraguay and possibly Tanzania, the adoption of BTC will not only reach the political and economic level, very soon possibly for the QATAR World Cup it is possible that we will see in the advertising of the soccer fields something related to Blockchain and cryptocurrencies, those who decide to go this way first will have more success while those who are integrated will not want to lose the movement.

[Oceat]

I think we will soon see that the largest crypto projects have become the main sponsors of sports tournaments. 

On the sportswear of the players, we will see advertisements for Tari, Ethereum, Ada (Cardano), Atom (Cosmos), Solana, and many others.

It will be very interesting to see the symbiosis of traditional sports and web 3.0. It will become common practice for athletes to receive tokens of various projects (in the form of fees). 

A sports team in the form of a DAO (Decentralized Autonomous Organization) is it possible?  In my opinion - yes!

I'd actually want to see a sport made out of the premise of crypto tbh. Integration of crypto towards sports betting and payments is just a matter of time imo, Making a sport, on the other hand, that has crypto as its own core (idk the specifics, but yea something like that) is something I'd actually love to see.

Advertisements should be in the foreseeable future, maybe around 4,5 years I guess? Adoption towards countries have been happening in the past few months, so that time span shouldn't be unrealistic imo.

I think we don't need such 4 to 5 years for this to happen since most of the sports participants are already aware of it and their managers as well. So the adoption and expanding it to almost all sports is getting closer and I think we all just need a good advertisement about it or some kind of regulations that doesn't affect the market of a certain cryptocurrency.

Maybe in the next two years it will be a common rewards for investors and players that bookies do offer with the help of someone.

[mv1986]

I think there are a lot of ways to advance tokenization technologies and appropriate regular frameworks such that everyone can for example buy NFTs from an amateur club and thereby provide liquidity. I thought about that idea in the past because a little club near me always asks for sponsorships or financial contributions in exchange, well, whatever. Why not give them the possibility to raise serious financial funds via NFTs? I have even written a lot about that concept, I like the idea a lot. I would buy NFTs from that club and if it advances from 7th league to 6th league, maybe my tokens even increase in value. Tokenization could be much more developed in regards to sports. It lift even amateur sports leagues onto a whole different level because it would be so much fun for people closely analyze any clubs around them without being professional clubs.

You could easily extend that concept to players. If an amateur club wants a player but can't afford it, and the player agrees to be tokenized(contract would be precisely negotiated with all parties involved), amateur clubs might even be able to afford players from higher leagues.

[Kakmakr]

Well, the only thing that Crypto currencies can do for Sport ...is to add some "Money" in the form of Sponsorship and hosting large events. We have already seen Stake.com signing up 6 UFC fighters and also paying for major marketing for some of the events. 

Stake also bought the rights to Live Stream some of the events on their site and this is bringing more viewers to these events. The more competitors are paid through major sponsorships, the more events can be hosted and people pay to see these events. 

What I want to see now, is competitors in these events.. getting match winnings in Crypto currencies.