"What's interesting is that today, crypto has become an integral part of many industries - including sports. While at first glance, it may not seem like crypto and sports have much in common, in reality, they do: both are community-driven. The philosophy of cryptocurrencies is built on democratisation and decentralisation, much like the global fan bases of football. This intersection demonstrates that crypto naturally fits into the football landscape, offering new opportunities for fans and clubs to engage."
"Cryptocurrency was integrated into sports relatively recently. The first moment was in 2018, when Ömer Faruk Kiroğlu was signed to join Harunustaspor Turkish club. Part of his transfer fee was paid in cryptocurrency, which generated a lot of buzz and demonstrated that crypto has a place in every sphere, with the potential to make things a lot easier."
Cryptocurrency has shifted from a niche financial instrument to an active element within football, aligning with the sport's community-driven nature. Early adoption included a 2018 transfer involving Ömer Faruk Kiroğlu where part of the fee was paid in cryptocurrency. Adoption grew through 2021 when Spanish footballer David Barral became the first professional player transferred using cryptocurrency. Clubs have used stablecoins for acquisitions, such as São Paulo FC paying $6 million in USDC for Giuliano Galoppo. Crypto firms have entered sponsorships and introduced fan tokens, changing both commercial relationships and fan engagement models in the sport.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]