The world's most watched sporting event, the 2024 Paris Olympics, is in full swing. This is not only a wonderful sporting event, but also brings more attention to related sports concept blockchain projects.
The development of blockchain encryption technology also provides fans with new ways to interact with teams and athletes, enhancing their sense of participation and experience. In this article, we will introduce some blockchain sports projects (tokens) that may be able to combine the influence of the 2024 Paris Olympics.
Chile (CHZ)
Chiliz is a blockchain designed specifically for sports and entertainment that focuses on enhancing fan engagement through tokenization, allowing fans to interact and engage with their favorite sports teams and clubs.
Chiliz operates a blockchain-based sports entertainment platform called Socios, which enables major global sports entities to issue Fan Tokens, which are tokens on the blockchain designed to allow fans to have a closer and better connection with their teams through participation in club governance.
Chiliz has been rapidly integrating its technology into the fan engagement space by partnering with sports teams and entities since its founding in 2018. Chiliz-powered fan tokens offer supporters the opportunity to participate in team selection, earn incentives and unlock content, allowing fans to directly engage with their sports teams through polls, surveys and various interactive elements.
The global attention on the Olympics provides Chiliz with an opportunity to highlight its Fan Token, which could generate more interest and adoption during the event. Chiliz can further enhance its influence in the global sports market by using Fan Tokens to promote Olympic-related content and interactive features.
Meme Coin — MGMES
MGMES (The Meme Games) is an Olympics-themed cryptocurrency that merges five Olympic memecoin projects - Dogecoin ($DOGE), Pepecoin ($PEPE), DogWifHat ($WIF), Brett ($BRETT), and Turbo ($TURBO) - into a new buying and playing experience that is both fun and potentially very profitable.
Due to the unique combination of competition, opportunity, and rewards, coupled with the global appeal of memes and the Olympics, the crypto community is calling $MGMES the official memecoin of the 2024 Olympics. Essentially, the game is similar to slots or roulette with an Olympics/classic meme twist, but players have a greater chance of getting rewarded.
This innovative cryptocurrency not only takes advantage of the popularity of memecoins, but also combines the global influence of the Olympics to attract a wide range of user groups. With the opening of the 2024 Olympics, MGMES is likely to gain more attention and use in the crypto community and a wider audience.
NBA Top Shots: A platform for collecting NFTs of basketball stars
NBA Top Shots is a platform developed by Dapper Labs, known for facilitating the buying, selling, and trading of licensed NBA highlights, also known as "Moments." Each Moment is represented by an NFT on the Dapper Labs Flow blockchain, which is designed to support games, applications, and digital assets such as NBA Top Shots.
The Olympics provide an opportunity for the popularity of sports collectibles and highlights, which may trigger interest and interaction in platforms such as NBA Top Shots. As the attention and participation of global sports fans increase, platforms like NBA Top Shots will become an important part of the sports collectibles market, further promoting the popularity and application of NFT in the sports industry.
Fan Tokens
Fan Tokens are tokens issued by teams or clubs. As a product of the fan economy, they allow token holders to participate in the relevant decision-making of sports clubs. Fans holding fan tokens can vote for the team's uniform design, win game tickets, get the opportunity to meet idols, etc.
Sports organizations often issue fan tokens, a type of cryptocurrency that allows their supporters to vote on club decisions, access unique content, earn incentives, and participate in other fan interaction activities. Fan tokens are designed to allow fans to participate in the governance process of their favorite clubs and strengthen their connection with the club. Well-known fan tokens include Paris Saint-Germain (PSG), Juventus (JUV), Barcelona (BAR), and Manchester City (CITY).
Prediction Platform
Polymarket prediction market, users can predict and bet on the number of medals, winning countries, etc. of the 2024 Paris Olympics. Such predictions have attracted a lot of attention from sports fans.
In Polymarket’s “Olympic Games” category, users can make predictions on various Olympic-related events. For example, current predictions show that the United States has a 78% chance of winning the most gold medals in the Paris Olympics, while China has a 21% chance. The amount of prediction projects in this category has reached $1.54 million.
As the Olympics get underway, prediction platforms such as Polymarket are expected to attract more users and capital investment.
The 2024 Paris Olympics provides a unique opportunity for sports and cryptocurrencies to combine, promoting sports consumption and participation in a decentralized manner and increasing fan interaction. These blockchain sports projects not only provide fans with deeper opportunities for participation, but also enhance fan interaction methods, making the combination of sports and cryptocurrency closer.
