Cryptocurrencies are big news, and have been for some time. While some people remain unfamiliar with then, many more are now starting to learn more about Bitcoin and other similar currencies.
While it’s becoming common knowledge that cryptocurrencies are now frequently used for online gambling, for example through sites found on topbtccasino.net, they still aren’t sure what else they can be used for. Yet, cryptocurrencies are sweeping through many different elements of life today. A lot of people believe cryptocurrencies are the future of payments everywhere, yet when it comes down to the sports industry, it’s hard to get a direct answer. While some people say that changing fiat currencies into cryptocurrencies is an entrance into sports, others say monetising teams represents the best approach. However, already there are plenty of examples of ways in which cryptocurrencies have entered the sporting sector, and it appears to be just a matter of time before major events like the US open begin accepting cryptocurrencies.
Blockchain Technologies And Sports
Blockchain platforms already exist to facilitate democracy in sport. These allow people to vote on issues such as the next uniform for their favourite team, or the song that would be sung after winning the championship. Blockchain technology has brought balance to this aspect of the sports world and has allowed fans to express themselves effectively.
One example of this was seen when Italian football club Juventus developed a digital token then offered it for $2.22 per coin to their supporters. With ownership of this coin, fans could participate in decisions relating to the club such as future transfers, theme songs and new uniforms. It has proven to be an effective way of introducing cryptocurrencies into the industry.
Wagering And Chance
Crypto has long been an ideal tool for wagering and chance. It’s clear that this way of using crypto is not only here to stay but will become even more widespread in the future. Some sports wagering sites exclusively use cryptocurrencies like Bitcoin while others have included them as one of their payment options. Online gaming sites often offer money-back guarantees or discounts for people using cryptocurrencies to pay. These bonuses are likely to become increasingly common for crypto users as the benefits of this form of payment for wagering are recognised by even more people.
Crypto And Perks
A further addition to today’s sporting industry are all the perks which come along with crypto. Some sports service providers offer unique features to punters who choose to pay using cryptocurrencies.
In fact, thinking back to the Olympics, there was a scandal about the use of XRP as the primary currency. Those paying with crypto received additional benefits and better seats, all because the crypto community is keen for the technology to thrive and grow.
With the Olympics having led the way, the path has been paved for other major sporting events to follow suit, offering additional perks for fans who use cryptocurrencies. With this in mind, it’s probably only a matter of time before the US Open takes this step and embraces the latest in blockchain technology.