All Sports

All Sports | Blockchain for the $2 Trillion Global Sports Industry

The All Sports whitepaper notes that the world’s sport industry is a $2 trillion business. So, in one calendar year, the global sports industry earns massively from competitive sports games, recreational sports, and the newer e-sports. Immersed in the sports industry are obviously highly paid athletes, sport equipment manufacturers, sports media, team owners and management, brokerage companies, etc. 

Due to the rise of the internet, particularly cellular technology, the All Sports whitepaper notes that sports related content can be spread across the globe faster than ever before. Moreover, IP licensing based sports derivatives and sports betting are now the primary revenue generators for the world’s rapidly evolving sports industry.

Notably, the All Sports whitepaper states that the Mayweather and McGregor boxing match made a staggering $600 million while simply the transfer of Neymar to Paris Saint-Germain netted a sensational €220 million. Clearly, there’s big money involved here. There’s an industrial chain operating here where every contributing member (athletes, sports media) has their respective commercial value. However, the value of each member is dependent on the value of all contributing members to the global sports ecosystem.

Simply put, if Mayweather earns hundreds of millions of dollars from boxing, he’s doing so by engaging in an ecosystem where other people are also participating. So, if McGregor did not want to fight Mayweather, then the massive earning opportunity would have never materialized. Obviously, this is a very simple concept to grasp.

All Sports Whitepaper

To help further increase the global sports industry revenue stream, the All Sports developers aim to: 

“use … smart contracts and [a] token system to provide developers with a convenient and complete set of interface protocols for payment and settlement as well as application development …platform for sporting content, online community, IP asset trading and its promoting platform, sports prediction platform, sports apps and gaming platforms, etc.”

To cater to the sports business owners, the sports-oriented platform intends to: 

“[give] all business participants transparent application development services and business realisations through operation of blockchain ecosystem chain and tokenisation of assets in order to achieve business goals.”

Obviously, this is a poorly written whitepaper, but I think we all get the idea here. All Sports simply wants to leverage blockchain technology and implement its network in a manner that would help engage all contributing parties in the world’s sports ecosystem. The engagement via this platform’s network is supposed to be beneficial to all parties involved. 

Should this serve as a green light for more investments to pour into this initiative? The short answer is No. That’s because blockchain technology itself is in its very primitive stages. Perhaps the only legitimate use case for blockchain technology at this point is Bitcoin, as distributed systems expert Andreas Antonopoulos has stated. Moreover, presently a blockchain is just a very slow database at best.

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