Blockchain Could Even Benefit the Sports Industry | ETF Trends

Blockchain technology is already proving itself in areas like the financial sector, but its benefits can also flow over into sports. With the business of sports being run more and more by data-driven analytics, blockchain could be of use.

Analytics is already a big component of sports. From baseball to football, more professional and non-professional sports teams are integrating data that can hopefully translate into more victories.

Data, however, isn’t relegated to playing sports. The business of sports is also using data in order to make operations more efficient, which opens up opportunities for blockchain usage.

“The sports business now offers numerous new opportunities for innovation thanks to blockchain technology, including in the areas of data insights, smart contracts, tickets, and tokens,” a Ball State article was quick to note. “Teams may utilise blockchain technology to gather and store data. The performance of both individuals and teams may thus be improved, as can tactics and general team strategy, as well as player health.”

“The blockchain network may now be used to store decentralized applications for all facets of the sports business, including publishing and television rights, memberships, merchandising, endorsements, and so on,” the article added. “This includes contracts for athletes as well as contracts for all other parties involved.”

Active ETF Blockchain Exposure

Investors who want a piece of the growth action in blockchain can look at actively managed funds. For example, the Amplify Transformational Data Sharing ETF (BLOK) is an option to consider.

As mentioned, BLOK features an active management strategy that can flex with the market’s movements by putting holdings in the hands of seasoned portfolio managers. BLOK adds diversified exposure and cryptocurrency exposure without investing in the currencies themselves.

While the majority of the fund (75%) contains holdings in North America-based companies, the fund also adds a touch of diversification with holdings in Western Europe and Asia-Pacific. This allows the fund to gain exposure to growth opportunities abroad where blockchain technology could be utilized to its fullest extent.

The fund invests in companies partnered with or directly investing in companies utilizing and developing blockchain technology, the technology behind cryptocurrencies like bitcoin.

Summary of BLOK’s features per its product website:

  • Global equity portfolio of professionally selected companies involved in blockchain technology and indirect crypto exposure.
  • An active management approach that could enable the fund to remain flexible, make timely decisions, and identify companies that are best positioned to profit from the developing blockchain technology space.
  • Convenience and transparency of the ETF structure.

For more news, information, and strategy, visit the Crypto Channel.