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Premier League Champion Manchester City Tokenizes its Players via Superbloke

The Premier League championship, Manchester city had signedSouth Korea’s Superbloke who is a sports game developer, to become the Club’s official blockchain-based gacha gaming partner in Korea, Japan, and South-East Asia. Gacha games involve virtual currency.

The club will now be featured in the Superbloke’s online game FC superstar. This development is said to enable fans to have ownership of player tokens as well as create a digital football team. FC superstar has been operating as an online game platform which gives users the liberty to build a digital team, this is said to be done by collecting, training, and grooming Manchester city digital player cards that have been specially designed, they are built to use real-life match stats and in-game training.

The senior vice president of partnerships for City Football Group, Damian Willoughby, had said, “This new partnership with Superbloke marks another exciting milestone in City’s growing relationship with gaming and will create unique experiences for fans to engage with the Club through digital platforms. We look forward to welcoming Superbloke to the Manchester City family and growing our knowledge of this developing industry through this partnership.”

Superbloke chief strategy officer Nak-Hyoung Kim had expressed the club’s vision to utilize the blockchain technology in helping football fans to permanently own the player’s tokens they have collected.

Meanwhile, As Manchester is just in time to witness the disruptive effect of blockchain, two other organizations that have been said to target collectibles and sports fan engagement and have signed up multiple partnerships with European soccer teams. Fantastec’s SWAP had signed Real Madrid, Arsenal and Borussia Dortmund earlier on.

Images via Shutterstock

Betmatch Employs Blockchain to Revolutionize Sports Betting

Sports betting is usually a risky endeavor as you can lose a bet that you rightfully won because of factors, such as the human error that may be intentional or not. This factor makes the $40 billion industry scary to enthusiasts as it is dependent on a few individuals who record the data. If anything goes wrong, it becomes a turmoil claiming one’s legitimate winnings.

Betmatch.io, a famous crypto sports betting platform, has not been oblivious to this reality as it has come up with a blockchain solution to assure bettors that their winnings cannot be manipulated, ripped off, or canceled.

According to Bitcoin Exchange Guide, Betmatch views blockchain as the perfect technology needed in revolutionizing the sports betting sector based on the distributed ledger network availed. Blockchain will provide every bettor with optimal transparency as he/she can see the entire bet terms.

Betmatch’s CEO, Ivan Chebotaev, noted:

“The emergence of blockchain betting has been a logical development. However, the main idea was rather the particular technological solution designed to increase transaction speed, since the appearance of blockchain betting was only a matter of time, depending on how long it took to sufficiently develop this technology.”

He also added:

“We decided to start by solving this problem ourselves instead of waiting for a global solution to the blockchain bottleneck problem to appear. This is what we consider to be unique about Betmatch.”

Blockchain will be instrumental in transforming Betmatch as it will prompt significant anonymity. Expressly, this platform will be made to accept bets, whereby KYC or Know Your Customer will not be required.

Image via Shutterstock

Top Brazilian Crypto Exchange Mercado Bitcoin Adopts Sports Token Chiliz

Mercado Bitcoin, the largest cryptocurrency exchange in Brazil, has announced its plans to add sports token Chiliz ($CHZ) to its existing list of digital assets.

This is big news for the developing blockchain fintech company specialized in sports and entertainment Chiliz, as Mercado consists of the largest digital asset trading platform in Latin America.

With $CHZ being accessible on the largest cryptocurrency exchange in Latin America, the fan token may significantly increase in popularity, as Mercado Bitcoin currently has more than 1.9 million registered users on its platform.

Introducing Chiliz

Chiliz is a sports blockchain platform focused on sports and entertainment, that developed Socios.com as an app that could be used for sports trading purposes. Socios.com encourages fans to vote in club polls and earn digital assets as rewards for their efforts. The payout is in $CHZ and is also known as “Fan Tokens”. Chiliz utilizes $CHZ as the sole on-platform currency and runs on a personalized blockchain infrastructure.

The sports-focused digital trading platform has previously extended its entertainment services and partnered with renowned “big names” in the sports industry, notably FC Barcelona, Juventus and Paris Saint-Germain, among others. Not only are their $CHZ tokens used in soccer-related sports entertainment, but in May, Chiliz has also partnered with UFC.

Tokenization in the Sports Industry

The sports industry appears to be also slowly making their way towards globalizing tokenization, with FC Barcelona launching their own Fan Token, $BAR, earlier in June 2020. This move generated $1.3M in sales revenue in less than 2 hours. Enthusiastic about the record sales time of fan tokens, CEO and Founder of Chiliz Alexandre Dreyfus took to his Twitter account and wrote that the token flash sale was a success, with fans and crypto enthusiasts from 106 countries buying the Fan Tokens.

Chiliz CEO Alexandre Dreyfus Likes Mercado

He also tweeted about his recent partnership with Mercado Bitcoin, saying that Chiliz is the first ‘altcoin’ or proper utility token to be listed on the leading Brazilian crypto exchange. He is enthusiastic about the fact that Mercado Bitcoin has a nearly 2M user base and thinks that the partnership with them will consolidate his strategy to expand his crypto company growth to Latin America and Brazilian teams.

SEC Charges Crypto Project Unikrn $6.1M for ICO Violations

The Securities and Exchange Commission (SEC) has charged Unikrn Inc. for conducting an unregistered initial coin offering (ICO) of its native token, UnikoinGold (UKG).

Unikrn flagged for unregistered securities sale

Unikrn, a crypto project operating in relation to online eSports gambling and betting, launched an offering of its UnikoinGold token in 2017, which generated approximately $31 million, according to findings from the SEC. in the report, US securities regulators said that the initial coin offering was not registered and required licensing. The report further added:

“Unikrn promised investors that it would facilitate a secondary trading market for the tokens and that its efforts to increase the usages for the UKG token would increase demand for and in turn, the value of, the token.”

SEC sanctions Unikrn $6.1M

The Securities and Exchange Commission decreed that the ICO hosted by Unikrn did not follow regulatory rules, as the crypto project “failed to register the offering or qualify for an exemption.” Subsequently, the securities that were promoted and sold through the coin offering were deemed to be in violation of federal securities laws.

This led the SEC to slap the crypto project with a regulatory sanction. Unikrn was charged with a $6.1 million fine. Rather than denying the allegations of digital asset securities violation, Unikrn simply agreed to pay the penalty. In addition, the project agreed to redistribute the company’s assets to investors through a Fair Fund. Chief of the SEC Enforcement Division’s Cyber Unit confirmed this and said:

“This resolution allows us to return substantially all of Unikrn’s assets to already-harmed investors and includes measures to prevent future sales to retail investors, including the disabling of the tokens.”

UniKoinGold price plummets on the crypto market

Unikrn rose to fame around 2017, when the team owner of NBA’s Dallas Mavericks Mark Cuban invested in the project. Unikrn is a platform where eSports gambling and betting could run.

Because sports betting was an opportunity for investors to reap a profit, the SEC classified it in a financial category requiring licensing to operate. Unfortunately, Unikrn did not have a financial license, which resulted in the SEC flagging its project and disabling its native crypto token, UKG.

At the time of writing, Unikoin Gold is trading at $0.01. The crypto token has drastically plummeted from its all-time high of $2.47 in January 2018, according to data from CoinMarketCap.

The Drone Racing League and Algorand have Reached a $100M Sponsorship Agreement

The New York-based Drone Racing League( DRL) announced that has reached a five-year sponsorship agreement with crypto platform Algorand of $100 million.

The specific terms of the agreement regarding the cooperation and sponsorship have not been disclosed, but the Algorand cryptocurrency platform will take over the ownership of DRL from the sixth season which starts on September 29.

Rachel Jacobson, President of DRL, stated that the cooperation with Algorand is by far the most important sponsorship agreement and described the cooperation as “transformative” and “perfect marriage” according to the report from CNBC.

Rachel Jacobson added that:

“When you look across what’s happening with crypto and blockchain, you have to make sure that you’re targeting the right audience.”

Former NBA executive Jacobson described contemporary young people as digital masters and said that athletics can help new companies to raise awareness of the brand, but cryptocurrency companies still need to educate young audiences about the field.

Established in 2015, DRL is the global, professional drone racing property for elite pilots. The current global audience is more than 75 million.

The Boston-based Algorand Foundation is dedicated to fulfilling the global promise of blockchain technology by leveraging the Algorand protocol and open-source software, which was initially designed by Silvio Micali and a team of leading scientists.

Last year, Coinbase and Circle Centre Consortium have expanded USDC from Ethereum to Algorand’s blockchain as part of its multi-chain USDC framework—to bring scalability and performance improvements to the digital dollar stablecoin for global consumer payment adoption.

Crypto is demonstrating its strength and power in the sports field. As reported by Blockchain.News on March 3, Hong Kong-based crypto exchange Crypto.com has partnered with Aston Martin Formula 1 team, ahead of the British car maker’s 2021 F1 car launch.

FTX US and DC Sports Leader MSE Establishes Multi-year Crypto Exchange, NFT Deals

Cryptocurrency exchange FTX USA announced on December 20 that it has become a cryptocurrency exchange and non-fungible token (NFT) partner with Monumental Sports & Entertainment (MSE).

FTX US will become the official encrypted partner of MSE’s Washington Capitals Hockey Team, Washington Wizards Men’s Basketball Team, Washington Mystery Women’s Basketball Team, and Capital Go-Go Basketball Team, while also gaining the exclusive right to drop future NFTs.

This cooperation is the first time that the leading American sports and entertainment family has entered the cryptocurrency industry.

Jim Van Stone, President of Business Operations and Chief Commercial Officer of MSE, commented on this cooperation that:

“The integration of blockchain technology with the sports experience has only just begun, and together we are going to advance to an entirely new frontier which will ignite fans beyond what they can even imagine today.”

FTX US hopes to provide a unique encrypted world experience for loyal sports fans in Washington, DC. Since then, the cooperation has not only become another step in the industry’s leading cryptocurrency exchange, but also an emerging power in the global sports world.

Earlier in October this year, FTX Derivatives Exchange completed a $420.69 million Series B-1 funding from top investors. The total valuation reached $25 billion.

On December 15, FTX Derivatives Exchange inked a global sponsorship deal with professional NBA basketball team Golden State Warriors, a move that will provide FTX brand presence throughout the team’s stadium known as the ‘Chase Center’.

Earlier as reported by Blockchain.News on August 24, The American cryptocurrency exchange giant FTX sponsors the University of California, Berkeley (UCB) with $17.5 million in cryptocurrency in exchange for getting the 10-year naming right of the California Memorial Stadium .

Crypto.com Becomes 1st Crypto, NFT Partner with Women's Professional Sports Team Angels FC

Crypto.com, the world’s fastest-growing cryptocurrency exchange headquartered in Hong Kong, announced on Tuesday that it has partnered with Los Angeles’ Angel City Football Club (ACFC) for exclusive rights to issue official cryptocurrencies and NFTs.

This cooperation aims to expand the access and awareness of cryptocurrency, blockchain, and Web3 technologies to the entire Los Angeles football fans, ACFC players, and also globally; thereby encouraging women to promote “education, independence, and financial empowerment.”

Angel City Football Club is a planned National Women’s Soccer League expansion team that is expected to debut in 2022.

The exchange has been committed to expanding the influence of the cryptocurrency industry in various communities and the team stated that it will focus on community participation, financial equity, and social impact initiatives.

Crypto co-founder and CEO Kris Marszalek said that Crypto.com has always been keen to create a community for the future of the Internet: Web3 — a platform that can provide builders, creators, and users with equal opportunities.

Julie Uhrman, co-founder and president of ACFC, said that：

“Given the speed with which Web 3.0 and cryptocurrency is changing our world, we want to ensure that women are being brought along on the journey as investors and creators. We are excited to work with Crypto.com to educate our community and players on crypto and allow our players to use the power of NFTs to connect with and create a deeper relationship with their fans.”

At the same time, Crypto.com stated that it will continue to find unique and influential ways to invest in Los Angeles, the world’s creative capital.

Just last month, Crypto.com signed a 20-year cooperation deal worth $700 million with Anschutz Entertainment Group (AEG), which owns the Staples Center and the L.A. Live.

The Staples Center will be renamed to Crypto.com Arena, and the official change in the arena’s name will take place on December 25, when the Lakers will be hosting the Brooklyn Nets

NFTs to Be the Epicenter of the Future of Sports, PWC Study Shows

As non-fungible tokens (NFTs) continue taking the world by storm, big-four accounting firm PricewaterhouseCoopers (PwC) report shows that they will revolutionize the way fans interact and consume in the sporting arena.

Dubbed “Sports Industry Outlook 2022,” PwC suggested that NFTs were among the top ten hottest trends in the sports industry because they have the capability of shaping fan experience and boosting bottom lines.

From a list of three main NFT use cases, PwC noted that these digital assets could revamp seasonal ticket membership. Per the report:

“Many teams have started to consider how tickets could become digital tokens, providing ticket holders — especially season ticket members — with access to special content in the real world or around the stadium experience.”

Collectible NFTs have the potential of driving up revenue in the sporting industry because they will serve as trading cards for the digital world. Individual athletes, teams or leagues will typically license them.

By merging the metaverse with digital assets, both fungible and non-fungible tokens, PwC believes that a whole new market will be born needed to maximize fans’ satisfaction levels. Therefore, virtual access tokens will foster innovative opportunities and social experiences in the metaverse.

NFTs are deemed game-changers in different sectors, given that they are non-divisible and have to be sold as a whole. For instance, Amrit Dhami, a thematic analyst at GlobalData, recently noted that NFTs were perfect for fashion in the metaverse.

Given that NFTs reflect proof of ownership of an asset like an image, Dhami stipulated that these creations can change the fashion look in the metaverse because users will be offered the chance to buy ‘NFT clothing’ just like the way people purchase custom-made outfits.

WWE Inks Deal with Fanatics to Offer Fans an Enhanced NFT Experience

To render its fans a new experience through non-fungible token (NFT) trading cards, World Wrestling Entertainment (WWE) has signed a deal with the digital sports platform Fanatics.

As an American integrated media and entertainment company known for professional wrestling, WWE sees the partnership as a game-changer that will give its global fanbase more opportunities to showcase their pride and passion for its star-studded roster and marquee events.

Vince McMahon, WWE chairman and CEO, welcomed the collaboration and stated:

“We believe this multi-platform partnership will set a new standard for WWE e-commerce, apparel and merchandise, while providing our fans globally with more ways than ever to engage with WWE and our Superstars.”

For elevated fan experience, WWE will be able to access Fanatics Collectibles, Fanatics Commerce, and Candy Digital.

Fanatics Collectibles, the NFT trading cards, will help revamp WWE’s physical and digital cards.

Michael Rubin, Fanatics CEO, noted:

“From e-commerce and licensed merchandise to trading cards and more, we’re going to offer up an incredible set of capabilities to help WWE’s passionate fans worldwide celebrate their favorite Superstars, marquee events and the WWE brand overall.”

WWE is one of the most widely admired sports and entertainment properties worldwide. Rubin added that it made perfect sense to activate many parts of our Fanatics global platform to create a first-of-its-kind, all-in fan experience.

The organisation has shown its preference for non-fungible tokens, given that it launched John Cena-inspired NFTs just in time for SummerSlam in August 2021.

Meanwhile, a recent PricewaterhouseCoopers (PwC) report acknowledged that NFTs would be at the epicentre of the future of sports as they would revolutionise the way fans consume and interact in the sporting arena.

Top UFC Fighters to Receive Bonuses in Bitcoin During PPV Events

The Ultimate Fighting Championship (UFC), the world’s leading mixed martial arts competition, has teamed up with crypto exchange Crypto.com to offer a new type of fighter bonuses in Bitcoin (BTC).

The Bitcoin payouts – named Fan Bonus of the Night – will be given to the top three fighters featured on every UFC Pay-Per-View (PPV) as voted by fans from across the globe.

Under the Fan Bonus of the Night feature, Bitcoin worth $30,000 will be awarded to the fighter who emerges victorious, with $20,000 and $10,000 given to second and third position holders.

Per the announcement:

“During each UFC Pay-Per-View, voting for the Fan Bonus of the Night will take place on Crypto.com/FanBonus. Each fan will get three votes per Pay-Per-View and can vote for two fighters within each bout.”

Therefore, more than 625 million UFC fans will have the opportunity to participate in the voting process.

Steven Kalifowitz, Crypto.com’s chief marketing officer, noted:

“Central to our partnership with UFC is creating the most unique and compelling ways for fans to connect with the sport and their favorite athletes.”

UFC holds more than 40 live events yearly and broadcasts to approximately 900 million TV households in more than 170 countries.

Dana White, UFC president, stated:

“Crypto.com has been an official UFC partner for less than a year … they’re constantly coming up with new ideas about how we can work together to connect with the fans. This new Fan Bonus of the Night is an awesome way to get fans more engaged in our events while rewarding the fighters for bad-ass performances.”

Crypto.com continues to make strategic partnerships in the sporting arena. For instance, the crypto exchange signed a 5-year deal worth $25 million with the Australian Football League (AFL) earlier this year.