NFT
offering a way to enhance both the sporting and commercial aspects . Additionally , integrating blockchain can create an enjoyable match day experience for fans , ultimately benefiting both the sport and its commercial aspects .”
Ultimately , however , teams have to be successful on the pitch , on the court , or in the rink . Professional sports – particularly professional football – is experiencing some degree of disruption , with new leagues threatening to emerge and constant debate about how the game is financed . There are many recent examples of companies taking out sponsorships with high-profile sports teams under the belief that they will do well that season , progress through competitions and enjoy lots of broadcast exposure – only for the team to crash out early , endure an uncharacteristically bad season , and for the sponsor not to renew at the end of the contract .
In April 2022 , English fourth-tier side Crawley Town were taken over by a group of American cryptocurrency investors . On the face of it , WAGMI ’ s acquisition of the club had the potential to revolutionise the relationship between sport and cryptocurrencies . But the club has had a tumultuous time on the pitch ever since , finishing that season in 12th and ending WAGMI ’ s first full season in charge just three points clear of relegation .
They will , of course , be hoping for a better finish this season – but perhaps it delivers a warning message , that crypto investors must secure buy-in from existing football fans rather than trying to bring crypto enthusiasts into the sports arena . Nonetheless , it will be interesting to see what becomes of NFTs in professional sport – something that Deloitte predicts is already set to become a US $ 2bn-a-year industry .
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