The Paris 2024 Olympics are a celebrated sporting event that garners significant attention and brings sport lovers from all over the world together. Apart from the thrill of the games, it is also an opportunity for the cryptocurrency and blockchain sectors to increase their visibility and acceptance, providing fans with ways to interact with their teams and athletes. In this article, we will introduce some tokens that could take advantage of the Paris 2024 Olympics and influence dApps. We call them “the Olympics tokens.”
Highlights:
- Some tokens may benefit from the Olympic Games.
- Chiliz is the major platform for fan token creation.
- Fan tokens aim to let fans participate in governance of their favorite clubs.
- PSG, ITA, BAR, and CITY are some well-known fan tokens.
The Olympics Tokens: Chiliz ($CHZ)
Chiliz operates a blockchain-based sports entertainment platform called Socios that enables major global sports entities to lauch fan tokens, which are tokens on blockchain that aim to let fans get a closer and better connection to the teams by participating in club governance.
Established in 2018, Chiliz has swiftly expanded by collaborating with sports teams and entities to integrate technology into the realm of fan interaction.
Chiliz-backed fan tokens offer supporters the chance to get involved in team choices, receive incentives, and unlock content. Chiliz empowers fans to interact directly with their sports teams, strengthening the bond through voting, surveys, and various interactive elements.
How do the Paris Olympics benefit Chiliz?
- Increased Interest and Usage: The worldwide focus on the Olympics offers a chance for Chiliz to highlight its fan tokens, which could lead to interest and more adoption during the event.
- Enhanced Fan Engagement: During the Olympic Games, fans showed an interest in connecting with their athletes and teams. Chiliz can take advantage of this excitement by promoting content related to the Olympics and interactive features using fan tokens.
- New Partnerships and Collaborations: The Olympics may bring about collaborations for Chiliz with national and international sports teams participating in the games, thereby broadening its reach and impact.
The Olympics Tokens: NBA Top Shots and Flow Blockchain ($FLOW)
NBA Top Shots is a platform developed by Dapper Labs that is widely known for facilitating the buying, selling, and trading of licensed NBA highlights, a.k.a. the Moments. Each Moment is represented by an NFT on Dapper Labs’s Flow blockchain. The blockchain is specifically designed to support games, applications, and digital assets such as NBA Top Shots.
How do the Paris Olympics benefit Flow?
- Sports Collectibles and Highlights: The Olympics provide a chance for the rise in popularity of sports collectibles and highlights, which could lead to interest and interaction on platforms like NBA Top Shots.
- Global Engagement: With the Olympics attracting viewers from around the globe, the NBA Top Shots on Flow blockchain has the potential to appeal to a range of people by owning digital representations of memorable Olympic moments.
- Market Expansion: The Olympics act as a huge event for introducing sports collectibles and digital assets to markets, which could result in acceptance and engagement on platforms utilizing blockchain technology, such, as NBA Top Shots.
The Olympics Tokens: Ethereum ($ETH)
Ethereum plays a vital role in the world of blockchain technology. Since its introduction in 2015, Ethereum has served as a pillar for a multitude of decentralized applications (dApps), driving innovation across various sectors.
Within the world of sports, Ethereum facilitates the development of dApps and smart contracts like Sorare and CryptoStrikers, offering fantasy sports experiences and digital collectibles.
By providing developers with the infrastructure, Ethereum empowers them to craft applications within the sports sector, enabling fans to engage with their favorite sports in exciting new ways.
How do the Paris Olympics benefit Ethereum?
- The growing popularity of sports dApps may see a rise in usage during the Olympics, attracting users and engagement on the Ethereum platform.
- Ethereum's strong foundation guarantees performance and scalability for sports dApps, meeting the increased demand during sporting occasions like the Olympics.
- The Olympic Games may inspire the creation of applications on Ethereum, which could bring features that transform how fans engage and participate in sports through blockchain technology.
The Olympics Tokens: Fan Tokens
Sports organisations often establish fan tokens, which are cryptocurrency that allow their supporters to vote on club decisions, access unique material, receive incentives, and take part in other fan-engagement activities.
Fan tokens give supporters a closer connection to their favorite teams, clubs, or athletes. They can utilize these tokens to engage in team-related choices, unlock content, and receive incentives, thereby strengthening their bond with sports teams and activities.
Some examples of fan tokens include Paris Saint-Germain’s PSG, the Italian National Football Team’s ITA, FC Barcelona’s BAR, and Manchester City’s CITY.
How do the Paris Olympics benefit fan tokens?
- The Olympics garnering attention is likely to increase interest and the trading of fan tokens, providing fans with ways to connect with the event and their beloved athletes.
- With its audience and media exposure, the Olympics present an opportunity for fan tokens to expand their reach and acceptance among global viewers.
Final Words
The Paris 2024 Olympics offer a new chance for sports and blockchain technology to come together in a unique way. Chiliz, Flow, Ethereum, and fan tokens might be favored with increased trading activity during the Olympics.
CoinEx provides fan tokens and other “Olympics tokens” trading as well. You may find out more on its trading page.
Disclaimer: Please note that the information provided on this website is intended for informational purposes only. CoinEx assumes no liability for any financial losses resulting from cryptocurrency trading. It is advised that you conduct your own research.
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