NFT for Sports

It is obvious that the sports industry has been with Thai people for a long time, with its origins in playing local games at various festivals. At present, the value of Thailand’s sports business has expanded dramatically, particularly in the football industry, which is the most popular sport in Thailand.

Bitkub Chain is a blockchain network that aims to integrate blockchain technology into a variety of industries in order to develop practical applications and provide opportunities for everyone to engage with blockchain technology. This enabled us to see the possibilities for using tools and platforms in cooperation with our initiatives with the “Thai Football Association”. It is the first time in ASEAN that blockchain technology and NFT have been used in a national football event. We started by releasing a limited-edition NFT collection. It represents top players from 16 clubs competing in the “Rivo Thai League”, with over 1.2 million pieces available for football fans to own and collect on Bitkub NEXT wallets. Furthermore, football enthusiasts can collect NFTs according to a schedule and redeem them for special rewards such as shirts, soccer balls, captain’s armbands, etc. Shortly after, we launched the NFT Fantasy Thai League, an innovative decentralized application. This is the first time in Asian football history that supporters can act as team managers or head coaches. The team is divided into four positions in order to organize sending players from their own team to the field using the Bitkub NEXT wallet.

Platform and NFT Solution for the sports industry

Blockchain and NFT are technologies that have received a significant amount of interest and have been extensively studied both locally and internationally, as well as playing a role in elevating the business sector. We have anticipated growth potential in the sports business, where market value is now increasing at an exponential rate. We decided to provide NFT solutions in the sports industry with our platforms including:

1. Bitkub NEXT — A digital asset wallet that users can scan to receive NFT airdrops through Thai Football League live and event booths in front of the stadium to complete the collection, which can be redeemed for rewards on the Bitkub NFT platform. Shortly after, we launched the NFT Fantasy Thai League DApp, which allows users to bring their acquired NFTs to form their fantasy football squad before the match kicks off. The players’ stamina will be based on players’ performances as measured by the league’s statistical system, as well as the rarity of specific NFTs, offering fans a new way to interact with their favorite clubs and players.
2. Bitkub NFT — Another solution in which we apply the reward redemption feature to the activities is the Bitkub NFT redemption feature. After collecting the NFT Thai League as mentioned, the users can redeem it for special rewards such as football shirts and captain’s armbands, etc. The reward will be delivered to the address specified in the system. (If the reward is an NFT, it will be automatically sent to the Bitkub Next wallet.) This solution would increase awareness and serve as an indirect marketing strategy for the business.
3. Social DAO — A platform where users can vote for rewards with NFTs from their holdings. In this campaign, we organized a prediction game between Manchester United and Liverpool. Participants can vote by using NFT Thai League to win tickets for the football match “The Match”, which will be evaluated based on the voting score. (There are greater possibilities to win rewards if the users vote with the rarest NFT rarity). The voting score will be stored on the blockchain, which is highly difficult to edit or modify.

We have demonstrated the ability to use our own developed platform as an NFT solution in the football sector. We have proven that NFT is more than just a painting; it functions as a gateway that allows users to interact with numerous activities. In terms of business, it could also be utilized as a marketing tool to increase customer retention because the activities we organize are similar to earning Loyalty Points program, motivating users to return and engage in the activities on a regular basis.

If you would like to implement NFT Solution for your project, please contact us for more details. Bitkub Chain’s platform and tools are designed to be secure, convenient, and appropriate for users.

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