Consumer loyalty and consumer engagement In the world of sports, especially football، building loyaltybut above all to make it an active part of the reference ecosystem, not only by proposing new experiences, but by offering different and technological solutions, with economic repercussions that will have an impact, taking into account all the critical things that the sport tout court experience and in particular football.
The large and rapid expansion of Cryptocurrency and the gods Code It is in direct proportion to the deep crisis of sports clubs in the world of football, which is constantly fueled by off-market compensation and revenues that have fallen dramatically, especially during the most severe phase of the epidemic.
Because football opened the doors to the digital revolution
the report “Financial Football League 2021” By Deloitte, now in its 24th edition, depicts the effects of the pandemic on the financial performance of the world’s biggest clubs through the turnover of the 2019/20 season.
Deloitte’s sports business group reports that the top 20 clubs by global football turnover have lost more than €2 billion in revenue. The cuts offered to broadcasters with reference to the “Big Five” leagues – the Premier League, La Liga, Serie A, Bundesliga and the First Division – play a crucial role in this figure – largely borne by clubs and match-day revenues, heavily discounted, tend to To be near 0 for the 2020/2021 championship.
In addition, the income from trade for the same reference period also has a net loss.
Taking into account this scenario also Italian football Opens the door to a digital revolutionin which all fans participate, even those who live very far away, to increase the sense of belonging.
Fan-token, NFT, crypto Thus, sponsors of the Blockchain world are entering the football ecosystem, not only to support teams, but also as sponsors for reviews. Mouse or from Goal Line . Technology.
there liquidity crunch Major football clubs are paying to search for funders and companies that deal in different capabilities with crypto and blockchain, at the moment, they have a large availability of capital to invest in order to position themselves in the market in search of users. In this case, the target audience is as transversal as possible.
Fan-tokens are part of a $550 million business, according to the latest estimates, and could support a $10 billion industry over the next few years.
Clubs, for example, use it to pay a portion of players’ salaries. The latest case is a case Lionel Messi to me Paris Saint-Germain.
Thus, fan symbols create a synergy with the fan who feels part of the club’s activities, even in some aspects of decision-making.
Football clubs, by fan symbols, It enhances the sense of belonging for the company itself by recognizing rewards to fans for their loyalty, through discounts, booked offers, promotions, priority access to events or purchase of match tickets and cashback on trade.
This way, clubs can reach all fans without geo-location restrictions.
The Token cost It varies according to market trend and the value is not necessarily affected by the championship performance of the reference team.
What is a token?
A token can be defined as a tradable digital asset. Digitally represents a value associated with a good, service, or right.
The token can be imagined as numeric codewhose value is determined by the market, by how users decide to exchange it and what, according to the agreement, that particular token should represent.
An example that is usually given is stamps issued as a result of shopping at the supermarket. Supermarket stickers are nothing more than symbols, “Objects”, therefore, it is possible to attribute a value to them By virtue of the context in which they are exchanged and by virtue of the value that the issuing organization decides to attribute to them.
They are worthless in themselves, but the supermarket, by accepting the receipt of these stamps as a bargaining chip for the sale of a particular product, arbitrarily decides to assign a certain value to it and accepts it as a bargaining chip.
An important difference to be made is between Non-replaceable tokens (NFT).
What are redeemable tokens
Fungiform tokens can be divided according to their function. So we will have:
- utility symbol – Represents tokens that can be spent in a particular digital ecosystem to purchase a good or service
- Payment Code – Performing a function of payment methods
- commodity icon – Gay tokens secured by commodities like gold, silver, and precious metals
Returning to the analogy with supermarket stickers, tokens also, like stickers, are interchangeable with each other, that is, the value of a token is the same as the value of any other token. Thus the tokens are “replaceable”.
What are non-fungible tokens (NFTs)
The Non-fungible token (NFT)Rather, they are unique digital objects, can not be replaced each other and they have an identification code. It represents the digital copy or certificate of digital ownership of things in the physical world.
Let’s think of things to exchange between collectors. We are faced with something special, limited, numbered, unique pieces. Going back to the tokens, in this case the collectibles cannot be exchanged 1:1, because I only own this item. So we no longer encounter replaceable tokens.
In addition to associating an object with a token, it is possible to take a unique object, such as artistic workAnd her symbol, that is, I divide the value and possession of this business into N tokens, which can then belong to different owners. As if the object is a timeshare, so it is possible to prove at any time between how many tokens were split and who owns them.
it is exactly Uniqueness of NFTs The key to its versatility, which gives new life to the concept of “collectibles”, introducing it into a new digital age.
Fans, by NFTsthey can, in fact, access EXCLUSIVE CONTENT With guarantees of authenticity and security of transactions. All this is guaranteed not only by blockchain technology, but also by the uniqueness of each non-fungible token. unlike symbolic fanNFTs, which are associated with individual teams and are replaceable in nature, have unique characteristics.
through NFT sTrophies and medals, players’ jerseys are numberedPictures and posters, generate significant revenue.
Every club and every platform that supports this ecosystem can implement its own system symbolism or a economic ecosystem Where everything is supported by the various possible interactions with tokens that represent real assets, and by a community that shares and values the principles and goals of developing the economic system itself.
The distribution of these tokens will benefit and will also be used by the reference community to enable the network that supports this token to grow, with a preference for its wider distribution.
Thus, the synergistic use of fan tokens and NFTs creates a new perception of living there User Experiencewhich looks fresh and comprehensive.
The Fan reactionin addition to clarifying it, it also implements a loyalty strategy that leads to a new form of Gamification.
More time spent on apps and sites means more exposure to partners and sponsors, creating an ongoing, stable and engaging relationship.
for example play to earnAnd Which consists in playing the races to earn the non-innate tokens (NFT), which will help the fan player to improve his condition with the possibility of purchase to increase the playing skills. The user is constantly interacting with the system, resulting in motivational dynamics that enhance the digital experience and return valuable data regarding the same user.
Play to win, powered by coding gamesstands in contrast to play to win.
Crypto games divert attention to the user, whose role becomes primary, allowing him to enhance his efforts, taking into account the fundamental principle on which the system is based, the principle of digital rarity.
The issue of digital scarcity addresses the finiteness of resources in digital form and is closely related to technology blockchain and maintain its decentralized economic system.
Postponing the deepening of this issue in a future article, it is necessary, however, to say that it is a natural limitation of the resources involved to ensure the equilibrium, but above all, the value of the individual elements.
There is another aspect that should be highlighted, which is that Fan reaction And data monetization There are two sides of the same coin.
there customer journey It naturally leads to the identification of fan attributes, for which custom engagement, loyalty, and membership programs are created. The different phases of the customer journey generate a cycle, according to which there is a continuous and reciprocal flow of data between the fan, who is invested in the relationship with the club or with the reference athlete, and constantly provides the data that is being formed. A strategic asset for the companies you do business with.
there data monetization means increase Revenueswhich in turn creates value for sponsors: a critical aspect for crypto sponsors who need to break into new markets.
there digital experienceTherefore, it becomes the pivot through which new sponsorship agreements and new business opportunities are identified.