NFL Players will Now Earn Crypto with Fanchain Partnership
The NFL Players Association (NFLPA) is partnering with FanChain, a decentralized platform for the global sports market, to enable its players to earn cryptocurrency.
FanChain is a decentralized live-streaming platform for the global sports market. It was launched a few months ago by SportsCastr, a blockchain startup focused on the sports industry and offering its own digital currency called the FANZ. The NFLPA has acquired a minority stake in SportsCastr through its athlete-driven accelerator the OneTeam Collective.
Through the partnership, active and former NFL players will collect FANZ tokens either by providing live commentary across a wide range of sports, share personal insights, and more. ACE Media, the NFLPA’s content and production arm, will collaborate with SportsCastr to produce NFL player and other athlete-driven content featured on the SportsCastr platform.
Casey Schwab, VP of business and legal affairs for the NFLPA, said, “When you look at blockchain, and obviously currencies have been the most ubiquitous use of blockchain today, but when we look at tokenized assets or tokens or [non-fungible tokens], we look at the different ways we can try to create products that are going to be sustainable and long-lasting.
“Because of the decentralized nature of the platform, anyone can get on it, players can get on it. NFL players are really interested in blockchain, in crypto … if a player calls me and asks ‘how do I get involved’ I’d suggest he go on SportsCastr and start generating tokens.”
As part of the agreement, SportsCastr becomes an official licensee of the NFLPA in the categories of mobile apps and web-based platforms that allow users to discuss a variety of sports topics, including through video streams and chats.
“In addition to viewing unfiltered live-video straight from their favorite NFL players, fans will be able to interact with them via chat and show their appreciation with sports-themed virtual gifts,” said Kevin April, SportsCastr CEO. “SportsCastr’s partnership with the NFLPA through the OneTeam Collective is a powerful opportunity for fans to connect with athletes in a direct and meaningful way.”
SportsCastr said that it working with teams, media publishers and leagues to add FanChain support, with the aim of making it the ubiquitous token within the sports industry. According to the official release, the first NFL players will begin using the platform in the third quarter of 2018.