The London Football Exchange is poised to launch a cryptocurrency – leveraging blockchain technology and the Ripple network – to allow a “fan-driven” football community to take part in various club and fan experiences from match day tickets, tours and player meet and greets.
Sooner or later it had to come – cryptocurrency entering the soccer arena with its legions of supporters around the globe. Now the London Football Exchange (LFE) is set to launch a cryptocurrency to power an ecosystem of “inter-related components” made up of sports, media, entertainment, finance and a foundation.
This will allow a “fan-driven” football community the opportunity to take part in various club and fan experiences from match day tickets, tours and player meet and greets (VIP experiences) to specific merchandise and third-party partner offers. The touted goal is to create the “ultimate sport community” for fans, so those heading the initiative claim.
The development comes as we are seeing a Blockchain idea almost every minute at the moment. The technology has the capability to meet virtually any use case, which is the easy part. However, the real issue and $64 million question centres on whether it can attract customers and monetize the technology or service stemming from it.
The initiative from the LFE followed just days CashBet announced last week (January 24) what was described as a “landmark partnership” with English Premier League football club Arsenal FC – prior to an Initial Coin Offering (ICO) of its new cryptocurrency, CashBet Coin. This is designed specifically for iGaming. It made CashBet Coin the North London club’s exclusive and official Blockchain Partner.