Thematic Intelligence - Blockchain in Sport 2024

Thematic Intelligence - Blockchain in Sport 2024

Summary

An analysis of the current state of play with blockchain/crypto, and its initial forays into sport

A detailed overview of the key sport property leaders in the blockchain space. An industry analysis of the social media market size and predicted growth forecast is provided in the report. The report also provides an in-depth analysis of the social media in sport value chain.

Key Highlights

Blockchain has had a significant impact on sports sponsorship

With sport organizations being impacted significantly from the COVID-19 pandemic, the cryptocurrency sector created an exciting opportunity for sports properties, looking to generate some much-needed revenue. Many of the biggest sport properties including the UEFA Champions League and Oracle Red Bull Racing have signed lucrative sponsorship agreements with cryptocurrency companies over the last few years. The blockchain market has allowed sports properties to engage with a worldwide market which has substantial potential to grow significantly over the next decade. Modern day sport fans, especially within the Gen Z group are consuming sports content voraciously, with the younger audience interested in content produced outside of actual games as in the games themselves. Crypto is a route for sports teams to provide that content.

Blockchain can tackle various issues across the sport industry

The technology involved in crypto can help significantly in removing ticketing fraud, blockchain-based tickets are digitally unique, meaning fake tickets are worthless. Blockchain also has its part to play in online sports betting. Blockchain would offer greater transparency, with regulators having the ability to monitor activities within the industry more effectively, by being able to access immutable records of transactions. Anti-doping programs can also benefit from blockchain as a tamper-free digital file can be used to keep secure all information and data regarding each individual athlete’s performance and their medical history, improving clarity and verification much easier.

Beyond quiet adoption, blockchain innovation persists

Despite the subsiding hype, blockchain innovation continues. The sector is awash with developments like rising competition among smart contract blockchains, the rebranding of blockchain into Web3, the emergence of soulbound tokens, and the ever-vibrant world of cryptocurrencies. These trends highlight that while enterprise adoption advances steadily, the public blockchain space remains dynamic.

Scope

• This report provides an overview of blockchain, and the explosion in its growth and fall in recent years.
• The current trends dominating blockchain as well as the trendsetters leading the industry, and what sports leagues and teamshave capitalised the most the boom of blockchain with regards to sponsorship.
• The report provides a look at the future development of the blockchain landscape, and what challenges it faces it in its immediate future.
• An in-depth look at the value chain for blockchain, and what generates revenue for the biggest platforms in the sector.

Reasons to Buy

• For those wanting an in-depth analysis of blockchain in sport.