The new MotoGP crypto program, a flagship fan sponsorship program, will be the Gresini Racing team’s endeavor to use blockchain technology and enable fans to own team packages.
Gresini Racing has started a MotoGP crypto program that would lean toward blockchain technology. The fan sponsorship program propagates decentralized ownership for fans. Gresini Racing has partnered with SPORTPASS and MotoGP Guru for the program as well. Meanwhile, the world could see a new phase of democratic sponsorship in sports with the program.
Through the program, fans will have access to exclusive packages, merchandise, and other experiences. They will also have a chance to ‘sponsor the team’ by collecting exclusive rights to these packages. The packages start from as low as 125 euros and go up to 10,000 euros.
The unique feature of this program is that the purchase records will appear on blockchains as an official certificate.
The program’s official page states, “Your Fan Sponsorship purchase will be minted as an immutable record on the blockchain, ensuring your exclusive commitment to the team is remembered forever.”
Other sports teams have issued digital assets like NFTs to their fans, but this feature could be a new, unique initiative. With their purchases on blockchains, fans will have autonomous and decentralized ownership of their packages. Thus, this program is an innovative use case of digital ledger technology in the sports industry.
Firms like Mastercard and Franklin Templeton have sponsored blockchain technology’s potential in various industrial sectors. Moreover, blockchain regulatory bills have also emerged in the US, proving the need for effective regulation in this space.
Scalability, regulatory frameworks, and energy consumption remain challenges, though. Once solutions counter these issues, blockchain is poised to disrupt numerous industries and reshape how we interact in the digital age.
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