September 30, 2022

F11: Champions League Glory in Your Digital Wallet

3 min read

It goes without stating that cryptocurrencies and sports are beginning to go together. We saw a wide variety of collaborations between leading crypto platforms and a few of the biggest football clubs across the world.

As the cryptocurrency industry turns into ending up being a legitimate and regulated area, it’s just natural to expect that this relationship is just going to reinforce.

First Eleven is a new digital marketplace and platform for crypto and football fans. The platform includes the most recent football news, live scores, components and unites the worlds of crypto and football.

Harnessing the power of blockchain, they are developing non-fungible tokens (NFTs) as part of their fan experience. These digital tokens permit fans both to have a user experience as a spectator along with specific rights that allows them to participate in the action.

Users will even have the ability to vote on football matches with a chance to win NFTs and F11 Tokens – – the native cryptocurrency that powers the entire environment – – it is both on the Ethereum blockchain and Binance Smart Chain.

A Closer Look at the F11 Platform

Cryptocurrency has been the fastest-growing financial investment class all over the world. Annualized over the past 2 years, the crypto market has actually gained 573% per year. Investors from the largest of organizations to specific retail investors can no longer ignore this sector.

The F11 platform unlocks access to the blockchain and crypto markets for sports fans. It has evaluated its consumer base and planned a customized reward structure. They will provide a number of additional features for NFTs owners.

This consists of staking, which will assist financiers to stake their tokens and earn fan tokens of their favorite group noted on the F11 launchpad. The launchpad, which is ideal on the platform, is created to assist football clubs to develop their own NFT collections.

This, integrated with a pool on the F11 app to serve as a liquidity service provider, is supposed to help in financing activities by borrowing from their fans through blockchain innovation.

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Crypto and Sports are a big business and traditionally have actually been some of the best investments worldwide, particularly over the previous three years. Investments in groups have provided some of the best returns in history. For example, the NBA’s Chicago Bulls were purchased for $16 million in 1985. They are currently valued at over $3.3 million.

The San Francisco 49ers of American football were bought for $13 million in 1977. They are now valued at $4.18 billion.

This is something that sports and crypto appear to share.

In the short history of NFTs, sports NFTs have actually currently made a big impact. In football alone, various digital trading card NFTs have cost $100,000. These NFTs feature the similarity Mohamed Salah, Kevin De Bruyne, and Cristiano Ronaldo. Not remarkably, “The Golden One,” a Lionel Messi NFT, cost over $1.1 million.

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Lionel Messi. Image by Marca Spectators are also a big market, and they desire crypto if we crunch up the numbers.

In current studies, it was found that 47% of sports fans stated that they were familiar with cryptocurrencies, and another 27% of sports fans mentioned that they presently own crypto.

More numbers include the reality that 66% of sports fans (who described themselves as devoted) and 72% of those that bank on sports stated that they’re familiar with crypto. And if that isn’t enough, sports fans have to do with two times as likely as non-sports fans to say they are familiar with cryptocurrencies, per a short article from CNBC.

2022 and the F11 Plans

The First 11 platform has been built for fans so they can get a premium fan experience. They will have access to the high-level NFT collections of their preferred football clubs and gamers.

F11 is developing a neighborhood for enthusiasts of football. An elevated football experience with live scores, in-app video games, an F11 Fantasy Champions League, and fan engagement through their digital market. The year will likewise expose severe collaborations.