Arif Efendi explains crypto's use in the field of football.
Football and cryptocurrency were previously two totally different realms, but this has changed recently. Arif Efendi an entrepreneur who is enthusiastic about crypto and a huge football fan, has observed the merging of both fields with great interest.
Football clubs have adopted cryptocurrency as a method of payment, whether for construction or transfer.
Fans also are not left out as they are embracing the new fan tokens released by the broad direction of the football industry.
https://www.globalbankingandfinance.com/interview-with-arif-efendi-on-the-future-of-business-and-cryptocurrency/ With its vast possibilities and applications, crypto uses are expected to extend across all sectors due to the continuing rise in the use of Artificial Intelligence (AI) and blockchain technologies.
Arif Efendi is keeping an eye on new developments that are vital to the development of the cryptocurrency market. Efendi describes how cryptocurrency is used in the football world as a method of payment.
He says the use of crypto should not be disregarded because the football industry has many marketing options for fans and footballers.
The first cryptocurrency-based purchase of football players. Arif Efendi describes this as an important milestone in football history.
In 2018, the Serie C Italian football club Rimini FC became the first soccer team in history to be bought in digital currency-cryptocurrency. Heritage Sports Holdings currently owns 25% of the club's stake. https://www.tiktok.com/@arifarifsaja/video/7327822951607307527 It was paid via Quantocoin.
Forbes says that Rimini was bought by Heritage sports holdings.
Arif Efendi The integration of blockchain technology into cryptocurrency is predicted to play a key role in fighting corruption within the football industry. This will streamline the administration and processes involved in running professional teams in sports.
UEFA is determined to increase transparency and reduce inconsistencies in the professional soccer industry.
UEFA implemented a blockchain system for allocating stadium seats in an event between Atletico Madrid & Real Madrid in a supercup final. This was done in order to test its effectiveness and enhance the efficiency of cryptocurrency transactions.
The first person to receive cryptocurrency by a footballer
In 2021, ex- Real Madrid super striker David Barral was transferred to Segunda DUX International Madrid using bitcoin. It was entirely supported by cryptocurrency.
The club did not explain why they selected this method of payment. Arif Efendi said it was an important event and it was the first of many.
The announcement drew the attention of international media. It's a sign of the way digital currencies have become a reality in every industry.
FIFA introduces the NFT platform for soccer enthusiasts, Arif Efendi was the first one to discover this announcement.
The International Football governing body (FIFA) has recently announced the upcoming launch of the NFT platform which is perfect for offering digital collectibles. NFTs will continue to preserve the FIFAs greatest moments of football's history.
Algorand, a company that operates on blockchain has joined forces with the NFT platform to facilitate token sales and provide unique details.
Digital collectibles enable you to recreate football matches with iconic artwork and images to be used for the FIFA Women's World Cup or FIFA World Cup.
Every football fan will be able to gather collectibles with this announcement that will make the FIFA world cup more accessible. Fantom continues to improve and football fans are able to participate in new and old games just like the sports memorabilia and stickers for a more seamless access to opportunities.
FIFA+ Collect will entirely available on the FIFA+ virtual platform, which is a federation-wide platform that provides access to live soccer games across the globe. Interactive games, tournament news information, as well as other relevant content will be available for digital collectibles that were launched in English, French and Spanish.
This is the second promise: to facilitate fans' effortless interaction with Algorand through web3.
Clubs are sponsored by crypto-based companies
Numerous crypto-related companies have made agreements with soccer clubs. Arif Efendi To ease the process for investors to gain access to financial markets, the companies collaborate with clubs. In this sense, eToro has partnered with European soccer teamsdue to growing sponsorship contracts, says Arif Efendi.
In order to expand its investment offerings the world's leading investment platform has announced twelve new sponsorships for UK and German teams. eToro intends to partner with Southampton and Everton, the English Premier League clubs Everton and Southampton through partnership agreements.
In addition, eToro has announced it will collaborate with German Bundesliga teams of FC Cologne, Union Berlin, Vfl Wolfsburg, and FC Augsburg. The partnerships are also extended to Danish champions FC Midtjylland.
The deals will enable eToro to be able to reach a wider audience. It will also offer an avenue for extensive advertising opportunities, such as digital rights, tickets and match-day LED boards. Individuals will have the opportunity to buy digital collectibles as stocks or crypto assets through these deals.
The sponsors sponsor football clubs with football attires, mainly jerseys, boots, and balls, to boost their reputation and make them more accessible to the market.
As a means to increase the strength of cryptocurrency, Forex brokers are offering sponsorship deals for premier league teams. Crypto companies help clubs to make kits that are in line with international standards. These deals are being promoted to the public.
Arif EfendiArif Efendi Additionally, clubs like Manchester United and Manchester City could be considering negotiating their sponsorships deals with crypto businesses. The move can be observed in the form of sleeves sponsorships, which are anticipated to replace mobile businesses and boost the use of cryptocurrencies.
The most recent source of income for clubs is the football fan tokens
Arif Efendi discusses that fan tokens are an instance of cryptocurrency designed for the purpose of providing benefits to football enthusiasts. fans tokens holders can enjoy benefits of membership. They can enjoy exclusive fan events and events for fans, as well as limited editable merchandise, access to games and voting rights. Voting rights could be used, as an example to decide team policies such as bus design, the team's official motto, and kit designs.
Fan tokens are available to purchase one time and are therefore not necessary to be renewed.
The fan tokens constitute a new source of income for football clubs as well as the fans have a fresh way to engage with their favourite team.
New trends and technology are driving the football industry and other sports to embrace innovative methods and create new opportunities. The usage of cryptocurrency in the world is increasing and the football market is no different. Arif Elfendi is of the opinion that crypto will explode across all markets. He expects to see more instances of this in the field of football.