Web3.0 in the sports industry

It’s too early to draw solid conclusions from the Web 3.0 sports industry, but the suitability and application of certain technologies for sports properties as a sustainable, valuable, and / or ethically sound infrastructure or market offering. It is important to ask about.

Information technology has undoubtedly changed human society in unimaginable ways. From the early experiments of the 1960s to the present, the Internet embedded in the Web has more than 171 million web hosts. Assuming an average of 100 pages per website (more than 800 pages for the Academy website), an estimated 17.1 billion pages of web content will be generated, most of which is accessible to everyone. Research shows that the Internet, excluding the deep web, is growing with over 10 million new static pages every day (1).

Web 3.0 is the latest Internet technology that leverages machine learning, artificial intelligence, and blockchain to enable real-world human communication. Web 3.0 is a third-generation Internet service for websites and applications focused on delivering a data-driven semantic web using machine-based data understanding. The ultimate goal of Web 3.0 is to create smarter, connected and open websites. Web 3.0 is described as cake icing, which not only allows individuals to own their data, but also pays for the time spent on the Internet.

Tracing changes trends from Web 1.0, a static information provider where people read websites but rarely interact, to Web 2.0, an interactive and social Web that enables collaboration between users, Web 3.0. Is expected to change both.

It takes a long time to fully implement and transform the Web using Web 3.0. However, the technology that some people believe will create and ultimately define Web 3.0 is currently under development. Smart home appliances that use wireless networks and the Internet of Things are an important example of how Web 3.0 is already impacting technology (2).

Simply put, Web 3.0, defined as the Internet of Property, promises to revolutionize the sports industry.

Sports authorities are using sports organizations as tools to showcase or leverage technology and data-driven products, services, experiences, or transformative products. A version of economic value is called gaming or tokenization for fans.

It’s too early to draw solid conclusions from the web3 industry, but ask about the suitability and application of a particular technology for a sports facility as a sustainable, valuable, and / or ethically sound infrastructure or market offering. It is important to do. This is especially true if there is a significant discontinuity between what some of these technologies really are and the benefits they offer. Meanwhile, the awareness and expectations of fans, consumers and sports facilities. Is it absolutely necessary to build future fan engagement tools on the blockchain? What added value do these companies offer for alternative technologies and are they fundamentally good at making and earning money? How often do you have the opportunity to invest in new digital financial assets compared to the “Fan Engagement” game? What are the real benefits for fans and sports facilities? Most of these questions are still waiting for answers (3).

web 3.0

The challenge facing sports (which is another big opportunity) is that fans always feel that they “own” their club. Even when fans cheer on athletes, they talk personally as if they were best friends. Web 3.0 offers ownership in a whole new way. Blockchain, in the form of both cryptocurrencies and smart contracts, will become one of the world’s core technologies and may form its backbone. After all, the challenge for sports is that innovation and technology are accelerating so fast that they can’t keep up.

Broadcasting, media technology and social media consume sports in real time around the world. The next era, the era of ownership, can be interrupted in ways not yet imagined. To date, sports have had to focus on local fans to make money and support their business model. But as we’ve already seen in NFTs, these dynamics are changing. The large number of followers created by premium rights owners will be tested in a whole new way. At the same time, smaller teams and leagues will have access to their fans in a whole new way.

Web 3.0 and Blockchain will change the perception of ownership. This affects people’s daily lives, and as a result, their expectations for the teams and sports they compete with change. Is the previous choice in the sports industry to ignore it and continue as before? Or will we use the next wave of innovation to learn what it means, understand its potential, and use it to drive fan engagement and monetization (4)? I’ll see it together.

Resources:

  1. https://thesportjournal.org/article/information-technology-and-sports-looking-toward-web-3-0/
  2. https://www.techtarget.com/whatis/definition/Web-30
  3. https://kennethcortsen.com/the-impact-of-web3-on-the-business-of-sports/
  4. https://medium.com/coinmonks/web-3-0-will-change-sports-forever-heres-what-you-need-to-know-a030732297fb

Turkish football manifest