NFL Players Can Now Earn Cryptos

The National Football League Players Association (NFLPA) is joining hands with SportsCastr, a Blockchain based startup, to help NFL players license products and time on the startup’s FanChain platform. The NFLPA has also bought a minority stake in SportsCastr.

NFL Players on FanChain

The NFLPA announced on Tuesday, July 31, that NFL players will provide livestreams, commentary as well as other content for SportsCastr’s FanChain platform. In return these players will earn revenue outside the games they play for the NFL, and this revenue will be paid to them in cryptocurrencies.

According to the NFLPA’s business and legal affairs VP Casey Schwab, SportsCastr’s FanChain allows anyone to set up a stream and commentate on games. Now, with this new partnership between the two organizations, NFL players will also be able to earn cryptocurrency by providing live commentary when live games are on. This will create unique content that fans will be able to enjoy.

Schwab also stated that NFL players have been really interested in getting into the cryptocurrency market, but haven’t had a way to do so till now. Now, if a player were to ask him about cryptocurrencies, Schwab says that he can at least tell them to go to SportsCastr.

NFL players have two ways of earning cryptocurrencies on FanChain. They can either earn cryptos from the system itself by creating content for SportsCastr’s platform, or they can get paid by fans directly. In time, players may even be able to host their own subscription-based streams.

Open to All Athletes

While this deal is currently for NFL players, SportsCastr is also in simultaneous discussions with other sports’ representatives. And while no clear timeline has been set for other program launches, the idea will be to make FanChain the go-to place for sports fans across the country.

Schwab stated that they do not want this platform focused on only football. The idea is to engage all athletes across various disciplines. Athletes will be free to comment on or discuss games or sports outside of their own fields too.

The NFLPA has been considering doing something with Blockchain for some time now. In fact, the association has been looking for opportunities to partner with Blockchain firms through its venture capital arm, the OneTeam Collective. This venture capital arm of the NFLPA allows businesses to offer equity instead of cash when buying licenses for player time or trademarks.

Schwab believes that Blockchain is going to revolutionize the sports industry, just as it has revolutionized other industries.