Introducing Blockchain Technology in the Sports Industry
Super Bowl is one of the major sporting events all over the US. It is all about celebrities and action-packed football games. There are other events as well that enable the sports industry to generate high-revenue from ticketing, merchandise sales, and promotions. According to reports, the global sports industry is currently worth $1.3 trillion. However, sports revenues are dropping rapidly as the number of fans who attend key sports events is decreasing. The introduction of blockchain technology in the sports industry can significantly resolve some of the major issues like ticket scalping, drug testing management, and enhancing fan engagement. Sports institutions can also improve athlete data analysis and sponsorship management more effectively.