Crypto and football: Uneasy team mates
Business Daily
BBC
4.4 • 816 Ratings
🗓️ 16 May 2024
⏱️ 18 minutes
🧾️ Download transcript
Summary
Where next for the sometimes tricky relationship between football and crypto companies?
We look at how some of the biggest clubs, and players, have embraced crypto products, and what that means for supporters.
From fan engagement tokens to NFTs, advertised by the world’s biggest stars, to deals with Premier League clubs which turned out to be fraudulent. Is it putting fans in a potentially difficult financial position?
Or just giving them another way to support the team they love?
Produced and presented by Imran Rahman-Jones
(Referee Arda Kardeşler performs the pregame toss with a coin bearing the Bitcoin logo for a match between Beşiktaş and Fenerbahçe on May 8, 2022 in Istanbul, Turkey. Credit: Getty Images)
Transcript
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| 0:00.0 | Hello and welcome to Business Daily on the BBC World Service with me, Imran Rahman Jones. |
| 0:07.7 | Today. |
| 0:11.9 | The complex relationship between crypto and football. |
| 0:15.8 | When it first started, it was interesting, it was cool, but it did make the market go nuts. |
| 0:21.1 | And much like anything, peaks in valleys and we're in a valley right now. |
| 0:25.5 | Many of the world's biggest clubs are offering fans the opportunity to buy crypto tokens |
| 0:29.9 | in return for the chance to vote on various topics involving their teams. |
| 0:34.6 | The clubs and the crypto companies say it's good for fan engagement. But that's |
| 0:39.4 | something that's dividing opinion, even amongst fans themselves. I spend probably between |
| 0:45.0 | sort of five to six thousand pounds a year on following Arsenal, and that's home and away Europe |
| 0:50.4 | flights. So absolutely not, not scared to kind of spend, but I think spend it on the right thing. |
| 0:56.9 | We'll take a look into what happens when this relationship goes wrong. |
| 0:59.9 | I was able to honor numerous instances of where football clubs did business with people who |
| 1:05.8 | they shouldn't have if they'd done any due diligence at all. And we'll be asking, where does it go next? |
| 1:11.9 | It is increasing. |
| 1:13.3 | If you combine how many are interested in them, |
| 1:16.6 | how many organizations are engaging in it, |
| 1:18.7 | then I don't see it going away. |
| 1:22.6 | Football and crypto. |
| 1:24.6 | That's all coming up on today's episode of Business Daily. |
| 1:32.0 | Greatness. It isn't just about signing your first contract at 14th, or becoming the youngest ever |
| 1:40.6 | to represent your country at a World Cup. At the end of 2021, the cryptocurrency market was booming. |
... |
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