• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

How Web3 Can Change the Use of Sports Data

user avatar

by Giorgi Kostiuk

4 hours ago


Web3 has significantly altered our perception of money, ownership, and the internet, and this revolution could now extend to the realm of sports data. Currently, athletes lack control over their data, creating many opportunities for change.

The Data Control Issue

To date, most sports data is owned by leagues, broadcasters, or private companies. Athletes, who generate this data, have no control over it or share in the revenues. This issue has a long history and affects numerous sports and locations. For example, companies like Genius Sports and Opta profit from exclusive rights deals worth tens of millions. Yet, athletes remain on the sidelines.

New Business Models for Athletes

When players gain control over their data, it opens up new income streams. Instead of leagues or networks selling access to player stats, individual athletes could license their performance data to coaches, betting platforms, or even video game developers. Smart contracts could automate these relationships and ensure transparency in data use. This approach could also address some of the licensing challenges the sports world has seen in recent years.

The Future of Sports Data in Web3

In 2019, NBA guard Spencer Dinwiddie made headlines by attempting to tokenize his contract, allowing fans to invest in his future earnings via blockchain. This shows that athletes are seeking change. Instead of traditional proprietary systems where data is controlled by third parties, we can create systems in which athletes are paid to share their verified stats. With the right management, performance data can become intellectual property that drives new applications and business models.

Атлеты настаивают на более значительном контроле над своими рабочими данными, и с развитием Web3 они могут начать восстанавливать эту собственность. Это может привести к более справедливому распределению ресурсов и признанию истинной ценности, создаваемой игроками и их статистикой.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Launch of DFDV Treasury Accelerator: DeFi Development Corp. Expands Treasury Capabilities

chest

DeFi Development Corp. announces the launch of SOL treasury accelerator to support international projects based on Solana.

user avatarGiorgi Kostiuk

Toncoin and SEI: Analyzing Market Trends and Predictions

chest

This article reviews the current trends for Toncoin and SEI and their growth potential in the cryptocurrency market.

user avatarGiorgi Kostiuk

Backpack Announces New Fee-Free Platform for FTX Creditors

chest

Backpack launches a platform for direct claim sales for FTX creditors with no fees, providing a solution for users.

user avatarGiorgi Kostiuk

Record Gains in Crypto Market: $4 Trillion Capitalization and Altcoin Surge

chest

The crypto market has shown record growth, hitting a $4 trillion capital. Small altcoins have demonstrated significant increases.

user avatarGiorgi Kostiuk

Bitcoin Acquisition Halted: Basel Medical Group Responds to U.S. Regulatory Threats

chest

Basel Medical Group pauses plans to purchase 10,000 BTC due to regulatory uncertainty in the U.S. Analyzing the reasons and implications.

user avatarGiorgi Kostiuk

Bitcoin Chart: Peter Brandt Signals Possible Price Changes

chest

Peter Brandt has shared a Bitcoin chart suggesting an impending price change as analysts discuss two possible trajectories.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.