"Fan loyalty and customer loyalty also means that we should be loyal to them, not only them being loyal to us." - Pär Helgosson, PSG

Introduction

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The convergence of sports and Web3 technologies has opened up new avenues for fan engagement, community building, and value creation. In a recent talk, industry experts delved into the invisible yet impactful realm of Web3 in sports, shedding light on its evolution, challenges, and promises. With Max Rabinovitch from Chiliz & Socios.com, Jordi Mompart from FC Barcelona, and Pär Helgosson from PSG, moderated by Marissa Trew from Blokhaus, the discussion revolved around uncovering the historical context, rationale, and future prospects of Web3 in sports.

Panelists

• Max Rabinovitch: Chief Strategy Officer, Chiliz & Socios.com
• Jordi Mompart: Research Director, FC Barcelona
• Pär Helgosson: Head of Web3 & Metaverse, PSG

Key Points

1. Early Opportunities and Challenges: Max Rabinovitch highlighted the nascent stage of Web3 in 2018 when Chiliz was founded, emphasizing the gap in global membership experiences for sports teams. Convincing teams like PSG and Barca to participate was initially challenging due to the novelty and complexity of the concept.
2. Rationale Behind Web3 Engagement: Jordi Mompart emphasized FC Barcelona's commitment to its global fan base and the values it stands for, such as democracy, diversity, and empowerment. Leveraging blockchain technologies like NFTs and utility tokens, Barcelona aims to provide ownership and collaboration opportunities for fans worldwide.
3. Evolution of PSG's Engagement: Pär Helgosson discussed PSG's journey in the Web3 space, transitioning from initial forays to becoming a Chiliz validator. PSG aims to deepen its engagement with partners, integrate ecosystems, and capture fan behavior directly, moving away from transactional relationships towards deeper partnerships.
4. From Transactional to Partnership: The panelists highlighted the shift from transactional relationships to deeper partnerships between sports clubs and Web3 platforms. The focus is now on co-creating value, building ecosystems, and fulfilling promises made earlier, with increased stakeholder buy-in and collaboration.
5. Exciting Future Prospects: Looking ahead, the panelists expressed enthusiasm for upcoming developments. FC Barcelona aims to create a metaverse experience for its fans, blending physical and digital realms. Chiliz & Socios.com focuses on building an ecosystem of third-party developers to enhance utility and engagement for fan tokens. PSG anticipates greater openness to crypto and tokenized assets, with large brands entering the Web3 ecosystem.

Conclusion

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The conversation around Web3 in sports has evolved from initial skepticism to enthusiastic exploration and collaboration. As sports clubs embrace blockchain technologies to deepen fan engagement, the focus shifts towards co-creation, innovation, and community building. With promising developments on the horizon, the future of Web3 in sports holds tremendous potential to reshape fan experiences and club operations, transcending marketing hype to deliver tangible value and meaningful interactions.

Watch the full talk here