It goes without saying that cryptocurrencies and sports are starting to go hand-in-hand. We saw a wide range of partnerships between leading crypto platforms and some of the biggest football clubs across the world.
As the cryptocurrency industry grows into becoming a legitimate and regulated space, it’s only natural to expect that this relationship is only going to strengthen.
First Eleven is a new digital marketplace and platform for crypto and football fans. The platform features the latest football news, live scores, fixtures and brings together the worlds of crypto and football.
Harnessing the power of blockchain, they are creating non-fungible tokens (NFTs) as part of their fan experience. These digital tokens allow fans both to have a user experience as a spectator as well as certain rights that enables them to take part in the action.
Users will even be able to vote on football matches with a chance to win NFTs and F11 Tokens – the native cryptocurrency that powers the entire ecosystem – it is both on the Ethereum blockchain and Binance Smart Chain.
A Closer Look at the F11 Platform
Cryptocurrency has been the fastest-growing investment class around the world. Annualized over the past two years, the crypto market has gained 573% per year. Investors from the largest of institutions down to individual retail investors can no longer ignore this sector.
The F11 platform unlocks access to the blockchain and crypto markets for sports fans. It has evaluated its customer base and planned a tailored incentive structure. They will provide a number of additional features for NFTs owners.
This includes staking, which will help investors to stake their tokens and earn fan tokens of their favorite team listed on the F11 launchpad. The launchpad, which is right on the platform, is designed to assist football clubs to develop their own NFT collections.
This, combined with a pool on the F11 app to act as a liquidity provider, is supposed to assist in financing activities by borrowing from their fans through blockchain technology.
Crypto and Sports
Sports are a big business and historically have been some of the best investments in the world, especially over the past three decades.
Investments in teams have delivered some of the best returns in history. For example, the NBA’s Chicago Bulls were purchased for $16 million in 1985. They are currently valued at over $3.3 million.
The San Francisco 49ers of American football were purchased for $13 million in 1977. They are now valued at $4.18 billion.
This is something that sports and crypto appear to have in common.
In the short history of NFTs, sports NFTs have already made a big impact. In football alone, numerous digital trading card NFTs have sold for $100,000. These NFTs feature the likes of Mohamed Salah, Kevin De Bruyne, and Cristiano Ronaldo. Not surprisingly, “The Golden One,” a Lionel Messi NFT, sold for over $1.1 million.
Sports fans are also a big market, and they want crypto if we crunch up the numbers.
In recent surveys, it was found that 47% of sports fans stated that they were familiar with cryptocurrencies, and another 27% of sports fans stated that they currently own crypto.
More numbers include the fact that 66% of sports fans (who described themselves as avid) and 72% of those that bet on sports stated that they’re familiar with crypto. And if that isn’t enough, sports fans are about twice as likely as non-sports fans to say they are familiar with cryptocurrencies, per an article from CNBC.
2022 and the F11 Plans
The First 11 platform has been built for fans so they can receive a premium fan experience. They will have access to the top-level NFT collections of their favorite football clubs and players.
F11 is creating a community for lovers of football. An elevated football experience with live scores, in-app games, an F11 Fantasy Champions League, and fan engagement through their digital marketplace. The year will also reveal serious partnerships.
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