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Sports leagues and conferences have traditionally relied on bulk deals with centralized media platforms such as ESPN and Fox.
Blockchain technology has the potential to revolutionize the way NFL, NBA, MLB and all sports media owners manage sports rights. By leveraging the security and decentralization capabilities of blockchain, we can make microtransactions more efficient, engage fans in the most personalized way, and enable new revenue streams in an increasingly direct-to-consumer (DTC) world. increase.
Blockchain technology could make sports leagues even bigger winners
With the rise of streaming technology and growing demand for more personalized experiences, the league has already incorporated a DTC approach into its strategy. The NBA and MLB launched his DTC service, and the NFL last year launched NFL+, a collection of games that can be streamed live. In either case, these DTC products are subject to comprehensive media agreements with media “platforms” that often include exclusive rights to broadcast the games.
For example, after the NBA sells exclusive media rights to a set of games to ESPN and TNT, it offers the rest of the game DTC in a bundled package. But as the evolution of sports media enters its next phase, blockchain technology will change the way media is evaluated and sold.
NBA Commissioner Adam Silver says every moment in every NBA game can have a different value. For example, a game that makes no sense in the standings is worth less than two contenders vying for his first place in a conference or division. On a more micro level, a close match is worth more than a blowout, and his final minute of a crucial close match or playoff his game is even more valuable. What all this means is that you can use dynamic pricing to sell parts of your game in minute-by-minute microtransactions. This newfound opportunity will force the league to rethink its media rights strategy in the same way it did when cable emerged as an additional and/or alternative option for free television.
The NBA suffers a dilemma in connection with this development. Younger audiences of advertisers coveted fans often consume clips and highlights on social media rather than watching broadcasts live. The size of the audience determines the size of the rights fee a broadcaster pays, so it makes sense for the NBA (or any other league) to bundle certain shows to media platforms, but for games that don’t, consumer We withhold the ability to sell directly to Subject to contract, we reserve the right to sell individual games or at least parts of games. These blockchain-powered microtransactions may be more appealing to this younger audience with a desire to consume short-form, personalized content.
The nature and scope of these microtransactions will be subject to intense negotiations with media platforms. However, this is the same debate as when live streaming was introduced, and we are confident that these negotiations will be resolved through some sort of compromise.
Assuming the league holds these rights, fans can set alerts to automate buying in case of a “close match” and stop watching or paying in case of a fiasco. Imagine that instead of buying Sunday tickets, you could only buy NFL games with fantasy players attending the games on Sundays.
QR codes can be incorporated almost anywhere, including TV shows, to encourage fans to participate … [+]
This same blockchain strategy could be used by leagues to provide a new viewing experience for a new generation of sports fans, enhancing fan engagement and monetization in their broadcasts. One example consists of real-time calls to action such as ‘Live Mints’, where QR codes pop up on screen at key moments and fans can answer trivia questions to win prizes or make purchases via NFTs. There is the creation of an interactive broadcast that will be This allows fans to watch live and be eligible to win something or buy a “moment of the mint” when they witness a great play. Imagine Stephen Curry receiving an NFT POAP (Proof of Attendance) for witnessing him win the game in 0.6 seconds. It is something worth passing down to your children.
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