Deloitte expects an eventual rise in blockchain-enabled innovations
Seeing the result of the NFTs, crypto, and fan token used they considered the innovation
Bitcoin (BTC) is the most prominent blockchain use case,
It shows the technology’s prowess in successfully delivering an immutable
And truly decentralized ledger over the past 13 years.
Adding to the years of innovations since then,
They notice the introduction of altcoins, nonfungible tokens (NFT), decentralized finance (DeFi) growth
A study conducted by fintech giant Deloitte highlighted the untapped potential of the crypto ecosystem
It such a good opportunity to open up newer markets for the sports industry.
The first fan tokens and NFTs introduced to the sports industry
Which aims to increase fan engagement via collectibles and voting mechanisms.
However, Deloitte, one of the Big 4 accounting firms,
Envisions the industry further embracing crypto
And blockchain technology over the coming years:
“A nexus will form around sports collectibles, ticketing, betting, and gaming. We are just beginning to see its (cryptocurrency’s) potential, as well as the new markets it could lead to.”
Seeing the growth and result of their job, Deloitte have long-hopes for this field
Therefore, they always work for the innovation of them
Besides, as a big participant, Deloitte puts high-hopes in sports industry
They also have the expectation to make a seasonal tickets over the blockchain.
Additionally, Deloitte’s study revealed that NFTs catalyzed
The merger between the physical and virtual worlds in sports
And they also predicting over $2 billion in sports-related NFT transactions in 2022 alone.
- More to read: Michael Barr The Selected Fed Vice Chair Opinion