Sports fans in the US can now earn cryptocurrency by attending viewing parties at bars.
Live-streaming company SportsCastr has launched the FanChain cryptocurrency on FanWide, a platform that helps fans find local viewing parties for their teams.
Supporters can earn FanChain tokens (known as ‘FANZ’) for checking into viewing parties at sports bars across the US, and can redeem the tokens for cash via SportsCastr’s FanWallet.
Kevin April, SportsCastr’s CEO, said: “FanWide has promoted over 1.5 million watch parties and has partnered with numerous professional sport teams and their fan clubs from the NFL, NBA, Rugby League, European soccer leagues, and more.
“This rollout represents one of the largest real-world deployments of blockchain in fandom, and we’re just getting started.”
The company plans to work with bars and venues to accept FanChain tokens in exchange for discounts, drinks, and other rewards.
The rollout of FANZ "represents one of the largest real-world deployments of blockchain in fandom, and we’re just getting started.” -Kevin April, SportsCastr / FanChain CEO @SportsCastrLive @FanWide @coindesk #blockchain https://t.co/rm5HaIdwS3
— FanChain (@FanChain) January 22, 2020
Symon Perriman, CEO and founder of FanWide, said: “Fans are always seeking new ways to show their team pride, and now they can earn rewards for watching their teams and supporting local businesses.
“This partnership is great for fans, great for venues, and great for the world of crypto.”
The sporting world’s interest in crypto is seemingly on the rise.
NBA franchises the Dallas Mavericks and Sacramento Kings both accept Bitcoin as a method of payment for tickets and merchandise.
Mavericks chief technology officer David Herr said it is an option for those who want to use it while also allowing the business to prepare for more wide-scale adoption.
In 2019, NFL franchise the Miami Dolphins also secured a partnership with Litecoin, with Charlie Lee’s project becoming the team’s “official cryptocurrency”.