ᑕ❶ᑐ The World Cup and the crypto scene: These FIFA tokens are closely related to the World Cup

The digitization of sport and football is being pushed further and further.

In addition to well-known techniques such as VAR and AI offside decisions, there are also so-called tokens from the crypto scene, which experienced a boom in popularity during the World Cup.

This is how cryptocurrencies find their way into the hearts of football fans

There is no direct FIFA cryptocurrency, but some tokens have a strong connection to football and are therefore also linked to major events such as the World Cup. Prominent soccer clubs around the world are also exploring ways to use cryptocurrencies to pay for tickets and merchandise, and to engage fans in crypto-related activities on match days.

Crypto-based fantasy leagues, loyalty systems and betting platforms have already been created for football fans looking to enhance their fan experience. After all, cryptocurrency is slowly transforming football into an even more nimble industry, where teams take advantage of new technologies to engage their audiences more effectively and make more money. Sports betting is one of the sports that cryptocurrencies found their way into early on.

Cryptocurrencies are a popular payment option for many online providers. Bitcoin betting providers are the most widespread, but several other cryptocurrencies are also gaining ground with virtual bookies and show that the combination of sports betting and cryptocurrencies definitely has potential.

The phenomenon of NFTs in sports

New technologies like non-fungible tokens, also known as NFTs, are revolutionizing the sports industry. Powered by blockchain technology, NFTs offer fans a secure digital way to buy, own and trade exclusive content such as unique memorabilia, experiences and artwork from their favorite team or athlete.

For example, Los Angeles offered its own Lakers fan signs. These limited-edition tokens offer holders unique benefits, such as virtual encounters with players or exclusive discounts on items. Additionally, teams have successfully used NFTs to provide digital memories not otherwise available on the open market.

NFTs are still in their infancy in many sports, but are already being used successfully in Formula 1 in addition to basketball. But football also benefits from the introduction of these signs. The possibilities are varied and some clubs are already more open to it than others. For example, superstar Lionel Messi received a nod of compliance when he joined PSG.

However, the top French club failed to properly announce the transfer. Holding arguments can benefit both parties. For example, fans can win tickets or have access to special products, clubs are rewarded with an additional source of income.

WM as a crypto leader: These three signs are closely related to WM

During the World Cup, three countries in particular have emerged as beneficiaries. They all have a connection to football and enjoy the excitement surrounding the biggest sporting event in the world.

Algorand is a public blockchain network focused on scalability, security and decentralization. It is gaining more and more attention due to its innovative technology that offers extremely low transaction fees and almost instant speed. The proof-of-stake consensus system ensures the safe transfer of digital assets without wasting mining power resources. In addition to its reputation for environmental friendliness and sustainability, blockchain is also the official partner of FIFA.

Chiliz is an exciting new project in the world of football and cryptocurrency. It is a blockchain-powered fan engagement and rewards platform that allows sports fans to engage with their favorite teams. Chiliz is affiliated with Socios, a fan engagement platform where users can purchase fan-specific tokens as well as NFTs.

Cronos has gained notoriety as an official Crypto.com currency. Crypto.com, on the other hand, is one of the most popular online platforms that facilitate trading and investing in cryptocurrencies by providing a user-friendly platform. Crypto.com allows users to trade cryptocurrencies such as Bitcoin, Ethereum and others. They can also use different payment options like credit cards or Apple Pay to make purchases with their digital assets.

The platform appeared as an official sponsor during the 2002 World Cup in Qatar and thus joins the ranks of Coca-Cola and Co. The recent crash of the FTX trading platform not only caused Crypto.com to wobble, but also the official document.

Like all cryptocurrencies, newly introduced tokens are subject to strong fluctuations. Compared to Bitcoin and Co. Cronos, Chiliz and Algorand are still particularly cheap to buy. Only one “sport sign” has benefited from the World Cup. Because Cronos and Algorand were not only able to show a distinct lead in the World Cup, both marks were also dropped during the event. Only Chiliz was able to stand out here and experience a significant price increase.

The future is uncertain for all arguments. Chiliz will need to retain the top post-World Cup, while the other two options recover from a relegation.

Conclusion

Crypto and football go well together. The fan experience can be improved and clubs benefit from additional capital. However, development is still in its infancy. For example, although the initial interest in NFTs is already high, the buzz must first develop into a stable market in order to determine the future of these innovations.

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