Professional football is the world’s most popular sport. The industry is worth billions, knows no borders, and is followed passionately by people from all walks of life, but could a token aimed at football fans encourage widespread adoption? The BlocSide team believes their MVP token could do exactly that.
What is BlocSide?
In a nutshell, BlocSide is a platform that allows consumers to interact with the football world. Depending on where you are this might not sound revolutionary, especially for those who live close enough to the homes of their favorite clubs, but blockchain technology could provide solve some of the industry’s problems.
For a closer analysis of Blocside read our article.
Problems in the industry
Players are often purchased from clubs in different countries, and the biggest names in football have global fanbases. This means that clubs must facilitate transactions in various currencies, and as a club can’t possibly facilitate transactions in every currency, it can be difficult for some fans to buy merchandise. A cryptocurrency could alleviate some of these problems as crypto transactions aren’t as costly and don’t incur exchange fees.
This method of keeping costs down could be beneficial to overseas fans as it would allow them to buy replica shirts and other items without first needing to exchange their native currency for that of their favorite club. It would allow clubs to extend their reach and interact with fans currently restricted by geography. Everybody benefits.
Why would ordinary people use crypto for football purchases?
BlocSide plans to incentivize consumers to use MVP tokens for football-related services and products by giving them reward points for increased usage. These points would be exchangeable for tickets, exclusive, merchandise, and discounts, but this will not be enough on its alone to encourage adoption. To encourage widespread use of the MVP token, BlocSide’s platform will need to provide a better alternative to existing options.
The project will probably have the most difficulty swaying local fans. Crypto is not widely understood, so the platform will need to allow its best features to speak for themselves. An accessible platform could convince fans to use MVP to access their club’s stores and channels rather than simply visiting stores in person, using existing apps, and paying with traditional money.
The whitepaper shows that the company is working with several prominent clubs (including current EPL champions Manchester City), and if the platform is well received by first adopters other clubs are bound to take an interest to ensure they don’t miss the opportunity to improve their brand.
Professional football is one of those rare industries that can unite people regardless of borders, language, class, and other divisive factors. In this way, the philosophy of DLT seems to be ideal for the world of football.
People are passionate about their clubs in a way that many other industries can’t compete with. Ask any football fan, and they’ll probably be able to reel off a list of stats, significant dates, and other knowledge that you can only acquire through taking an active interest in the business — not unlike the way crypto enthusiasts do with their favorite projects. People who gamble on their teams even spend the weekend working out fractions (betting odds).
If the BlocSide project can sell itself to the average fan then thousands, if not millions, could take the plunge into the world of crypto.
Michael is an English and Creative writing graduate of Liverpool John Moore’s University, a former editor of several magazines, and a crypto-currency enthusiast. He is mostly interested in crypto-legislation and the potential of decentralized technology to change the world.