Blockchain could even benefit the sports industry

Blockchain technology is already proving its worth in areas such as finance, but its benefits can also be applied to sports. As the sports business becomes more fueled by data-driven analytics, blockchain could be of use.

Analytics is already a big part of sport. From baseball to football, more and more professional and non-professional sports teams are integrating data that can hopefully lead to more victories.

However, dates are not relegated to sports. The sporting goods store is also using data to make operations more efficient, opening up opportunities for blockchain usage.

“Sports business now offers numerous new opportunities for innovation thanks to blockchain technology, including in the areas of data insights, smart contracts, tickets and tokens,” a Ball State article was quick to note. “Teams can use blockchain technology to collect and store data. Individual and team performance can be improved, as can tactics and overall team strategy, as well as player health.”

“The blockchain network can now be used to store decentralized applications for all facets of sports business, including publishing and television rights, memberships, merchandising, endorsements and so on,” the article added. “This includes contracts for athletes as well as contracts for everyone else involved.”

Investors who want to participate in the blockchain growth action can look at actively managed funds. For example the Amplify transformative data sharing ETF (BLOCK B-) is an option to consider.

As mentioned, BLOCK features an active management strategy, able to adapt to market movements by placing holdings in the hands of experienced portfolio managers. BLOCK adds diversified exposure and exposure to cryptocurrencies without investing in the currencies themselves.

While the majority of the fund (75%) has holdings in North American-based companies, the fund also adds a touch of diversification with holdings in Western Europe and Asia Pacific. This allows the fund to access growth opportunities abroad where blockchain technology could be fully leveraged.

The fund invests in companies that partner with or invest directly in companies that use and develop blockchain technology, the technology behind cryptocurrencies like bitcoin.

Summary of BLOK’s features according to its product website:

  • Global equity portfolio of professionally selected companies involved in blockchain technology and indirect crypto exposure.
  • An active management approach that could allow the fund to remain flexible, make timely decisions and identify companies best positioned to benefit from the evolving blockchain technology space.
  • Convenience and transparency of ETF Structure.

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