Cryptocurrency is coming into the world of football, and could become the way to buy a player in the near future!
For the moment it is only sponsorship, as revealed by Eurosport, seven English clubs, including Tottenham, signed this Monday the first paid sponsorship deal in Bitcoins. What to wonder about the opportunities offered by cryptocurrency in football in the coming years, and the interest of clubs to invest..
"This is an important risk to take"
The contract signed by the residents of the Premier League on Monday is nevertheless a new step. And a way, especially, for clubs to enrich themselves in a new way. "Cryptocurrencies are not dependent on banks, explains Pierre Rondeau, specialist in the sports economy and author of The football will explode for a regulation of the economic system of football.They do not suffer exchange rate nor do they depend on political decisions.Today, clubs can expect the currency to gain value, it is a bet on the future, and a significant risk to take. "
Especially since the value of cryptocurrencies continues to increase steadily in recent months. Pierre Rondeau speaks of a "fashion effect": "If more and more people buy cryptocurrencies, their price may increase, so it will benefit the first buyers: those who buy today will be profitable." Without denying, however, that the opposite case is entirely possible. Cryptographic currencies have, by definition, a more unstable value, and their price could fall dramatically. Investment in cryptocurrencies should therefore remain a minority for the moment.
Moreover, "Cryptocurrencies are not dependent on banks, explains Pierre Rondeau, specialist in the sports economy and author of The football will it explode? For a regulation of the economic system of football. They do not suffer from exchange rates or depend on political decisions. Today, clubs can expect the currency to appreciate. It is a bet on the future, and a significant risk to take. "
Transparency, merchandising and ticket resale
The efforts of trading sites to invest a new market do not go unnoticed. "More transparency", "more facilities for the purchase and sale of merchandising", "less ticket resale fraud": that is, pell-mell and summary, the main arguments of the CEO of eToro in favor of the introduction of cryptocurrencies in football. Pierre Rondeau supports them: "It is true that there will be no intermediary with the banks, no misappropriated money." While nuancing: "Talking about transparency for a currency born on the darknet (an anonymous network, often associated with dissident or illegal activities, Ed), it makes you smile."
Possible, then, to see Bitcoin and other cryptomoney impose in the medium term in football? In Turkey, the amateur club of Harunustaspor has proclaimed itself the first club to transfer to Bitcoins. Omer Faruk Kiroglu thus cost 0.0524 Bitcoins (356 euros), with 2500 Turkish liras (356 euros). As for imagine the transfer of a great player paid in full cryptocurrency, there is only one step.
See Neymar at Real Madrid for a few hundred Bitcoins, this should not happen anyway right now: "In the medium term, in the 2020s, a transfer made entirely in cryptocurrencies is possible", for Pierre Rondeau. On several conditions: "There may be a monetary crisis, or the results of the next European elections in 2019 may endanger the euro, and favor alternatives." More and more people are campaigning anyway for the end of currency in cash. " Football and the Premier League are ready to go.
Source : www.eurosport.fr