Over the years, the sports industry has seen its partnership with cryptocurrencies and blockchain technologies further monetize opportunities in how sports engage with fans and attract sponsors. Today, these two sectors can interact with global markets and give fans who desire to consume sports beyond the actual match a chance to show their passion in different ways.
Sporting bodies, clubs, and teams are all dedicated to finding ways to meet fan expectations and survive the new digital age that involves technology, virtual spaces, and endless resources like MLB picks today. As a cryptocurrency owner and MLB fan, you may be curious about the different ways you can merge these two interests to enjoy your sports and investment passions in more ways than one. Therefore, it’s no surprise to have you reading this piece on how to do this.
Because the MLB is an organization that cannot necessarily be invested in directly, as a crypto owner, the best you can do is focus on getting an MLB team’s shares so your investment can come through a separate firm. So, in this article, we’ll be showing you how to do this to maximize profits while entertaining your love for baseball sports.
Using Cryptocurrency and Separate Firms to Invest in MLB Sports
Sponsorships and Partnerships
One of the easiest ways you can indirectly invest in MLB sports is by finding companies that sponsor or partner with MLB teams that you support. While you may have never heard of this before, over the years, sponsorships have led the way in creating a lot of awareness surrounding cryptocurrencies, and efforts continue to rise because of how prevalent cryptocurrency has become in the media and our everyday lives.
With the help of sponsorships and partnerships, MLB teams have the opportunity to grow their advertising budgets by working with new and upcoming crypto exchange platforms to gain brand recognition.
Blockchain Technology and Cryptocurrency in Sports
When you think of sportsbooks that allow bettors to wager on their favorite MLB teams, you come to realize that leading cryptos like Bitcoin, Ethereum, and many other digital currencies are gradually being incorporated into sites and platforms as methods of payment.
Today, fans can use their cryptocurrencies to purchase merchandise and tickets, and clubs can use their cryptocurrencies to transfer fees and pay salaries to their players. From all this, we can clearly see that sports organizations and clubs have a lot to gain from embracing the crypto market. With the use of blockchain technology, parties can implement secure and transparent exchanges on the market.
Crypto Assets and Fan Tokens
Fan engagement tokens are said to be one of the most exciting innovations that came from the partnership formed between technology and sports. Simply put, fan engagement tokens are utility tokens that allow fans the privilege of accessing and having influence over decisions made by MLB sports teams.
By owning a token, you will be given the right to vote and have a say on various club matters. From kit designs and choosing charity initiatives to training ground names and more, you have power and influence over what goes on with your favorite MLB team when you use cryptocurrency to invest in fan tokens.
One can easily compare this kind of influence to what you’d get when you own a membership card that provides you, the sports fan, with exclusive rewards that include special treatment to different events and VIP access to the most amazing experiences.
NFTs are popular crypto spin-offs that have been gaining a lot of sports momentum over the years. And while there’s a lot to learn about NFTs and how they are used, by conducting a simple search of your own, you’ll come to learn that NFTs are a representation of various tangible and intangible items that are unique and stored in virtual wallets.
Whether it’s a collectible sports card, digital sneaker, or virtual real estate property, each time you invest in any of these, you invest in a unique digital item that’s not interchangeable. Surprisingly, the market for trading collectibles and cards is worth millions of dollars; therefore, fans have the opportunity to immortalize their favorite sporting moments either in videos or pictures to the store or sell in the future.