Football is no longer a stranger to the crypto world, as clubs from all around Europe are beginning to take their very first steps into this new domain. Recently, Gibraltar United made headlines, as it announced that it’s going to partially pay its players in crypto this season. Interestingly, the man behind Gibraltar’s plan is making waves in the football world again. This time Pablo Victor Dana – through his company called Heritage Sports Holdings – has purchased 25% of Italian Serie C side Rimini FC 1912.
The crypto used for the transaction was Quantacoin, the cryptocurrency of Pablo’s blockchain venture. The club has been struggling financially, as such is the case it hopes that the new influx of money will help the club prosper for many years to come.
The Future of Football Transactions
More transactions in the football world are beginning to be completed using cryptocurrencies, with the number set to rise as adoption continues to grow. Earlier this year, Turkish side Harunustaspor signed their first player using Bitcoin, paving the way for the blockchain and crypto industry to move into football. Cryptocurrencies also provide clubs with a new way of complying with UEFA’s anti-money laundering rules, as all crypto transactions can be traced back to source. This extra security and data will help clubs stay out of trouble and spend more time on the pitch playing the beautiful game, rather than clearing up messy ticketing issues.
UEFA Using Blockchain for Tickets
UEFA has launched a new ticketing system that utilizes blockchain technology. Through its new app, UEFA issues tickets on a blockchain that prevents ticket touts from selling forged tickets. The new app was trialed at the Europa League final last season and around 50% of all tickets sales were handled through the app. UEFA fine-tuned the app and used it once again for the UEFA Super Cup final where Real Madrid took on Atletico Madrid. This time 100% of the tickets sold were done so using the blockchain app and it proved a huge success.
If other clubs take up the new blockchain ticketing system, certain aspects of the blockchain need to be assessed. One example of this is will the tickets permit users to enter a different stadium should the game be moved – a quandary facing many Tottenham Hotspur fans at the moment. If the smart contracts involved don’t permit this, then a large amount of ticket holders could be left out in the cold.
Cryptos Coming to the Premier League
The popular trading platform eToro has signed an advertising deal with seven top Premier League clubs for the 2018/19 season – paying for it partly in Bitcoin. The Premier League is watched around the globe by an army of loyal fans, giving Bitcoin – and eToro – a wonderful piece of exposure. Tottenham Hotspur, Newcastle United, Southampton, Leicester City, Crystal Palace, Cardiff City, and Brighton & Hove Albion have all signed up with eToro for the season, becoming Premier League crypto pioneers. Out of the Premier League crypto pioneers, only Tottenham Hotspur will get a chance to use UEFA’s new ticketing system this season, as they battle it out in one of the toughest Champions League groups.
Rimini FC 1912 has become the first team in Italy to be involved in the crypto sphere, as it’s the only team in the world to be partially owned thanks to crypto. Hopefully the new partnership with crypto magnate Pablo Victor Dana will push the team into a prosperous spell. Crypto continues to surge forwards in the sporting world, as more teams are beginning to get involved, which is great news for crypto enthusiasts around the globe.