Sports

Automobili Lamborghini S.p.A, an Italian automotive brand and manufacturer of luxury sports cars and SUVs based in Sant'Agata Bolognese, is using the Salesforce distributed ledger technology (DLT) – blockchain - to verify its vintage vehicles.

The giant shoe producer New Balance Athletics Inc. announced on October 17 the roll out of an experimental trial to track the genuineness of its latest sports shoe with blockchain tech to offer reliance and attribution for each customer.

The German soccer giant Bayern Munich Football club has reached an agreement with a blockchain company to form a sports licensing platform. The football club plans to sell digital collectibles customized with the initials of Bayern Munich FC players using the advantages of Blockchain technology.

Juventus Football Club, a giant sports company in Italy, has launched a partnership to launch a Token that offers benefits like the freedom to vote on certain issues as well as VIP status and awards.

Since last year, we have seen a lot of sports companies including Juventus, the Miami Dolphins, Gibraltar’s semi-professional team, and others, jump onto the bandwagon of Blockchain and cryptocurrency.

Professional United States football team the Miami Dolphins has made the decision to adopt the Litecoin cryptocurrency for purchasing tickets. This move has made Miami Dolphins to be among the first football teams to adopt cryptocurrency. In an important effort toward conventional adoption and appreciation, the Litecoin Foundation revealed that this teamwork will bring a significant configuration between Litecoin and Miami Dolphins.

Georgia has concluded a new partnership with engineering firm  IOHK to turn the country into a blockchain hub. The Memorandum of Understanding was made on June 17, and will make the county’s Ministry of Sports, Science & Education apply a variety of 3G blockchain-supported initiatives.

Many sports companies globally are seemingly joining the blockchain and cryptocurrency industry. Now, the European soccer giant Benfica Football Club in Portuguese Primeira Liga, has started to accept Bitcoin and Ethereum. Now, the transactional value of digital currency can be fully used around Benfica’s home playground, Estádio Sport Lisboa e Benfica. Integrating cryptocurrency with sports will bring a massive boost to the blockchain industry, in fact, it has already started to see a positive growth.

As Blockchain technology continues to gain traction penetrating the sports arena, the eSports Market in Italy in 2018 registered all-time high growth, and also attained a global turnover of around $1 billion. The technology has helped to reinforce the trust and confidence amongst players, fans and supporters, and has further augmented the transparency of transactions, as well as establishing fresh business models in the country.