The Premier League is exploring the potential for blockchain-powered digital assets in football. The EPL has just announced a partnership with Socios, which will enable fans to purchase and trade shares of their favorite team’s future on the ethereum blockchain.
The “british premier league” is investigating the potential for NFTs in football. The Premier League has a huge following and could be a big step forward for the industry.
The English Premier League (EPL), the UK’s most popular place for football-related nonsense, is looking at the possibility of NFTs. A considerable interest in the technology was disclosed in the minutes of a recent meeting between fan groups and football executives.
The EPL is aggressively investigating the possibilities of NFTs as a new income stream, according to sources. Football fans, on the other hand, will take it slowly and cautiously in this intriguing undertaking. According to speculations, the EPL may adopt the Sorare model, in which supporters collect and trade player-themed NFTs for use in a series of fantasy tournaments.
NFTs are all the rage in sports right now, and as a consequence, a number of high-profile clubs have teamed up with athletic tokenization platform Socios.com to distribute fan tokens that can be used to power giveaways, fan experiences, and even voting on minor team decisions. Sorare has also worked with the Spanish football league La Liga, while the German Bundesliga has a partnership with Topps cards.
On the other hand, there has been some worry over the rising trend of crypto endorsements in the game, which are now filling the hole left by the EPL’s decision to phase out gambling sponsorships. Members worry a similar pull to gambling as a consequence of the unregulated nature of these platforms, which might lead to fans making poor investment choices.
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