Blockchain technology is revolutionizing the sports industry, with revenue from blockchain expected to grow at a 9% CAGR over the next five years.
Web3’s influence in sports is democratizing the industry, giving fans a significant stake and voice in their favorite teams’ operations.
Non-fungible tokens (NFTs) are also playing a significant role in transforming the sports sector, offering fans exclusive experiences and creating new revenue streams for athletes.
Major sports leagues and franchises are building Web3 strategies, and the industry’s first-ever metaverse match took place in June 2023.