31/08/2022
Benefits of Blockchain and how it can help fan engagement with Sporting clubs
2. Rewarding Loyal Fans
By using a blockchain-enabled fan loyalty solution, teams can create a loyalty ecosystem whereby they can reward loyal fans for taking certain actions such as interacting with the team, making purchases from sponsors, or participating in club challenges.
Rewards can be paid out automatically using the smart contract feature inherent in blockchain technology which can be programmed to act when certain conditions are met – such as releasing tokens to a fan upon completion of a predetermined task.
Blockchain-powered loyalty platforms provide a frictionless way for sponsors, partners, and fans to utilise loyalty tokens across the ecosystem. So, for example, a fan could earn Tokens for making a purchase in the team store. The possibilities are endless but could include exclusive behind-the-scenes content, merchandise, ticket sales, and digital collectibles.
Digital wallets enable fans to securely store and redeem tokens with ease and make transactions incredibly fast, which means that rewards can be earned much quicker than on traditional loyalty platforms and, thanks to the transparency inherent in blockchain technology, fans can track their awarded points more easily.