National Football League (NFL) Goes Blockchain With SportsCastr’s FanChain Deal
Goods news for the National Football League (NFL) players: their union has scored a deal to make a partnership with a blockchain startup that might help the athletes to license products on a decentralized network and earn crypto this way.
The deal was just announced and the National Football League Players Association (NFLPA) partnered with the FanChain platform, that will let the players provide commentary, live streams and other type of content for the platform in exchange for revenue outside of the games. The NFLPA has also decided to purchase a minority stake in the company SportsCastr, which is behind FanChain.
The SportsCast’s platform allow any person to set up live streams to provide commentary on many different sports. The vice president of Business and Legal Affairs at NFLPA, Casey Schwab, has told the media that this partnership can create unique opportunities for the sports fans and also additional revenues for the players, which is a win-win situation.
According to him, the new currencies are the most obvious use for the blockchain technology, but there are a lot of them. The players, according to him, are generally very interested in blockchain and these platforms can provide a good way for players to interact with their fan base and to earn some money while doing that.
Players can create content and be rewarded by the players or have their fans give them tokens directly. They will even be able to launch their own streams that will only work for subscriptions.
Not Limited To Any Sport
According to Schwab, the platform will not be limited to football players and representants of other sports are welcome on it, although there is no official program for adding other sport athletes on the platform or any deal at the moment.
Players can also be free to discuss whatever they like and comment on games outside their own. According to the executive, they will have a lot of freedom on the platform. It will be all about engaging the athletes in the best possible way.
The deal started to materialize some time ago when the company was concerned about working together with a blockchain startup company. The venture capital arm of the entity, the OneTeam Collective, decided to allow companies to offer equity instead of cash to attract deals and license trademarks and player time.
Schwab has openly stated that he is a big blockchain fan and that he believes that this technology will revolutionize the industry and sports together with it. The partnership with SportsCastr is one the first steps of this path towards the crypto industry.