Blockchain

NFL Partners With a Blockchain Startup. But Why?

Recent developments are coming out of sporting world tells that National Football League (NFL) is joining hands with blockchain company SportsCastr. National Football League Players Association (NFLPA) announced recently that it has bought a stake in SportsCastr.

SportsCastr is a live streaming sports platform where one can set up streams and provide commentary on any sports match. To fulfill its aim, SportsCastr launched its own cryptocurrency, FanChain too. The reason behind the launch of cryptocurrency was to offer the users of SportsCastr a way through crypto tokens to participate on the platform, unlock NFL player content which may even mean having a back stage access to player, purchase tickets and even gift any favorite NFL player. It is evident from recent events how hard this new technology has hit sporting world as earlier, Gibraltar United soccer team owner took a decision to pay players in cryptocurrency.

Casey Schwab, Vice President, Business and Legal Affairs of NFLPA, justified NFLPA’s move towards SportsCastr by sharing his firm believe in blockchain. He believes that unlike other industries, Sports industry too has room for blockchain technology. He said:

I’m a big believer in blockchain and I think it will revolutionize our industry, sports, like it may have revolutionized industries like food.

He realized that something that provided sustainability and was long lasting provides real deal that will be attracting customers. So, that’s why partnership with SportsCastr is really looked forward. He said:

When you look at blockchain, and obviously currencies have been the most ubiquitous use of blockchain today, but when we look at tokenized assets or tokens or [non-fungible tokens], we look at the different ways we can try to create products that are going to be sustainable and long-lasting.

And this matches with the believes of SportsCastr CEO, Kevin April who regards crypto and sports together, very sustainable. As evident from his interview he said;

Not only is the coming together of sports and cryptocurrency sustainable, it may be the most important pairing that cryptocurrency has seen to date.

Casey Schwab  added that the interests of NFL and platform of SportsCastr made it favorable to join hands with SportsCastr. In an interview, he said:

Because of the decentralized nature of the platform, anyone can get on it, players can get on it. NFL players are really interested in blockchain, in crypto … if a player calls me and asks ‘how do I get involved’ I’d suggest he go on SportsCastr and start generating tokens.

He explained in his interview, every aspect and impact that was inevitable with this partnership. He demonstrated that use of FanCoin that will be linking digital world to the physical experiences. He also explained the consequences of the initiative on the lives of players who wanted engage with their fans in a reasonable manner and platform. He said:

SportsCastr will allow NFL players to broadcast live events while earning tokens directly from fans. It is all about engagement; players want to engage directly with their fans. SportsCastr provides a unique platform for NFL players to do just that.

Kevin April describes FanCoin as an idea that has potential to merge with any sports team and mold itself to represent as that team’s token. He emphasized that a fan is only a fan of team, so FanCoin  has the feature of merging to succor the need of a fan on the basis of his team preference. He further shared his thoughts on stepping in the world of sports and innovating sports industry. He said:

Sports may be the vehicle that cryptocurrency needs to usher in adoption. According to KPMG, the global sports market generates in excess of $500 billion USD a year. And because there’s nothing more global or mainstream than sports, there is  an opportunity to introduce cryptocurrency to a massive audience that crosses every border and speaks every language. This is why the convergence of sports and cryptocurrency is important.

There is no denial in the fact that NFL has boosted the Sports startup a lot and on the same time brought some great news for NFL fans. After becoming the official licensed partner of NFLPA, SportsCastr will be collaborating with NFL players who will be providing commentary enriched with their personal insights, something very desirable and encouraging for fans. Apart from live commentary, fan’s access to player’s backstage or gifting any player has created a totally new and exciting dimension, SportsCastr is looking promising for every sports’ fans.

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Fatir Malik

Electrical engineer by profession, turned into blockchain developer. Fatir contributes regularly with his insights about latest developments in fintech sector. Email: fatir@blockpublisher.com or contact the editor at editor.opinions@blockpublisher.com

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