Crypto

Blockchain Technology can Help Clubs Like Schalke 04 During the Coronavirus Crisis

There are many different ways in which blockchain technology can make a meaningful impact during the coronavirus crisis. Particularly soccer clubs show an interest in this technology lately.

With most sports events canceled for the foreseeable future, it becomes very difficult to generate some sort of revenue.

Schalke 04 Has Hopes for the Blockchain

Soccer clubs, often considered to be the “richest” sports franchises, feel the pressure as well.

German soccer club Schalke 04 is trying to generate some revenue by whichever means at their disposal.

As no games can be played, there are no earnings from fans visiting the stadium or TV contracts.

At the same time, some costs will remain in place, including wages, maintenance, and so forth.

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Schalke 04 hopes to receive some sort of financial relief by May 2nd, albeit it remains to be seen how things will evolve.

If the final TV contract payment is not made by then, the club will need to explore other options during the coronavirus crisis.

One of those options includes Sorare.

it is a blockchain fantasy game running on Ethereum.

Through this fantasy game, the participating clubs may be able to increase their income for the foreseeable future.

Other clubs exploring this option include Valencia FC and Atletico Madrid, along with 20 other sport clubs around the world.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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