The world is fast evolving, and the sports industry is not left behind. Over the past three
years, there have been noticeable trends in the rate at which the sports world
accommodates crypto and blockchain initiatives to increase its revenue streams. From
players’ payouts to fan tokens, the sports world continues to integrate cryptocurrency into its
The good news? Everyone benefits. While the sports industry witnesses more financial
gains, the crypto industry sees more mainstream activities and also garners numerous
impressions for its services. As the world gears up for the World Cup, UEFA has embraced
blockchain ticketing for its games.
When sports meet technology, it’s always a beautiful combination. This upcoming Cup is
reputed to perhaps be the most in-demand UEFA cup to take place. With blockchain
technology in place, many activities become seamless, and this makes for improved
efficiency all through the competition.
Notably, the UEFA Experience is powered by some Blockchain Projects. Here they are:
MegaFan is a project established by Megafanstore. Registered in the UK, the company
deals with the sale and trade of sports articles. The platform doesn’t take the conventional
route of offering merchandise. Instead, it leverages strategic cooperation to explore new
markets for UEFA-co branded merchandising across leading European clubs.
Chilliz is remarkable for its impact on the fan token initiative. As a blockchain-based platform,
Chilliz leverages its technology to commercialize fan engagement and help UEFA achieve
more revenue streams. The platform has worked with Barcelona to create the club’s fan
token. It also powers Socios.com, which is a voting platform that allows fans to trade their
voting rights in favor of their sports team.
Fantastec is yet another project optimizing the UEFA experience. The platform is a one-stop-
shop housing collectibles. The platform offers fans numerous brand-new player collectibles
every season. This also includes autographs from various players, making for an improved
experience as a football fan. Fantastec partnered with Real Madrid in 2019 to offer the club’s
fans the avenue of trading collectibles with similar people.
Hublot Partners with UEFA
UEFA is also into another impressive partnership with Hublot. The partnership entails the
release of Hublot’s first-ever NFTsm, with the NFTs carrying an excerpt from the Swiss
Brand’s Hublot Fusion Podcast. In addition, the watch’s bezel is also designed with the flags
of the countries that were to host the tournament initially. This partnership further indicates
the level of integration going on between the sports industry and technology.
UEFA Announced Blockchain Ticketing
Blockchain has numerous benefits to offer the sporting industry, especially to bridge the
existing security and safety gaps in ticketing. According to a release on the 17th of February,
UEFA will sell millions of match tickets through blockchain technology.
The organization has entered into a deal with a blockchain-enabled mobile application to
distribute crypto tickets. According to UEFA, this initiative will make stadium entry more
safe, smooth and secure. More importantly, blockchain technology will help to address the
issue of ticket duplication. The ticketing system will now use QR codes activated via
Bluetooth when each carrier is close to the stadium.
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