Blockchain technology has already proven itself in areas such as the financial sector, but its benefits could also spill over into sports. As the sport is driven more and more by data-driven analytics, blockchain can be useful.
Blockchain could even benefit the sports industry
Analytics is already a big part of sports. From baseball to football, more professional and non-professional sports teams are integrating data that can hopefully lead to more wins.
However, data is not referred to sports. The sports industry also uses data to streamline operations, which opens up opportunities for blockchain use.
“The sports business now offers a host of new opportunities for innovation thanks to blockchain technology, including in the areas of data insights, smart contracts, tickets and tokens,” a Ball State article was quick to note. “Teams can use blockchain technology to collect and store data. The performance of both individuals and teams can thus be improved, as can tactics and overall team strategy, as well as player health.”
“The blockchain network can now be used to store decentralized applications for all facets of the sports industry, including publishing and television rights, memberships, merchandising, endorsements and so on,” the article added. “This includes contracts for athletes as well as contracts for all other parties involved.”
Investors who want a piece of the growth action in blockchain can look at actively managed funds. For example Strengthen transformational data sharing ETF (BLOCK ) is an option to consider.
As mentioned, BLOCK has an active management strategy that can flex with the market’s movements by putting the holdings in the hands of experienced portfolio managers. BLOCK adds diversified exposure and cryptocurrency exposure without investing in the currencies themselves.
While the majority of the fund (75%) contains holdings in North America-based companies, the fund also adds a touch of diversification with holdings in Western Europe and Asia-Pacific. This means that the fund can gain exposure to growth opportunities abroad where blockchain technology can be used to its full extent.
The fund invests in companies that collaborate with or invest directly in companies that use and develop blockchain technology, the technology behind cryptocurrencies such as bitcoin.
Summary of BLOK’s features per product website:
- Global equity portfolio of professionally selected companies involved in blockchain technology and indirect crypto exposure.
- An active management approach that can enable the fund to remain flexible, make timely decisions and identify companies best positioned to profit from the evolving blockchain technology space.
- Convenience and openness of ETF structure.
For more news, information and strategy, visit Crypto Channel.
