Fact: football is the most popular sport in the world. There are more than 4 billion fans across the planet – almost doubling Cricket, the second most popular sport.
It’s the most watched game in the world and is responsible for the world’s largest sporting economy. Billions of dollars are spent in prize money, salaries, staffing and much more every year.
All that money doesn’t go to waste either. The amount of eyes on football every week is truly staggering. Take for example the viewing figures for the 2018 World Cup. Fifa claim that 3.5 billion people watched the 2018 World Cup, with more than 500 million tuning into the final.
The brands behind these football clubs are some of the most powerful brands in the world, with a legion of passionate fans that are ready to follow them across the world to watch them play.
Sadly, as with most things in life, as football has grown the expectations for clubs have morphed. Clubs are required to continually exceed standards and operational challenges are leading to ever growing costs. Traditional financing can be difficult to secure, causing football clubs to become increasingly dependent on revenue gained from broadcasting, ticketing, merchandising, and other similar incomes to keep themselves running.
Of course, this is causing friction in the football community. Prices keep on rising and clubs are starting to alienate fans by becoming completely dominated by rich owners. Price hikes and the feeling of exclusion put off every kind of fan, especially the regular, most loyal fanbase of clubs.
The London Football Exchange (LFE) Group, a Daily Chain media partner, is here to bring football back to its fan-driven routes by using advanced technology.
What is London Football Exchange Group?
The London Football Exchange Group is a financial, technology, media and entertainment group that aims to operate in professional sporting with a focus on football. The LFE group is made up of five components:
- LFE Market – a fan services ecosystem platform
- London Football Exchange – aiming to be the first stock exchange enabling the purchasing of shares in football clubs
- LFE Football Group – aiming to be the Football club investment arm of the LFE Group
- The LFE Foundation – non-profit arm seeking better deals for those in need
- The LFE Token – will be the underlying cryptocurrency powering the LFE Group.
How LFE could improve football
For you, the fans
LFE is aiming to use blockchain to create the ultimate sports community. There will be a tokenized marketplace that increases transparency and reduces friction when making club purchases including tickets, merchandise, player meets and more. The LFE marketplace will be powered by the LFE Token and will provide access to special membership services and priority access to the LFE Exchange.
If you love your club, you’ll want a part of it. LFE Exchange aims to be the first blockchain based stock exchange that enables fans to purchase shares of football clubs. Alternatively, take the initiative to build yourself a football club portfolio of your favourite clubs around the world.
Note that the LFE Exchange intends to apply to the United Kingdom financial services regulator, the Financial Conduct Authority, to become regulated to operate the LFE platform.
Now picture this: once you’ve got your LFE ticket and are heading to the stadium, LFE envisions a setup where you can pay the bills at the stadium using their LFE pay system to buy gear, food, drink or anything else. For every payment made, points would be earned which could be saved towards exciting rewards such as pitch experiences.
Don’t worry – the LFE will not focus solely on one country or one league. LFE is intended to for every football club and league in the world. Any club that is in the LFE is expected to leverage the platform to create football experiences for their fans to strengthen the fan ecosystem and bring football back to its roots.
The LFE vision is to give football clubs the opportunity to leverage the token economy for their funding. LFE aims to rekindle the connection between fans and their respective clubs by providing football clubs with a new, innovative source of revenue which encourages fan engagement.
LFE also aims to faciliate football club equity sales, which clubs can use to raise funding to grow and improve the club.
For the game
The LFE Foundation is an arm of the LFE Group which will aim to grow and improve the game of football by increasing inclusion. On top of this, the LFE Foundation plans to step into education and other powerful endeavours using scholarships, academy construction, medical assistance and disaster relief.
The LFE Group is taking an innovative approach towards improving football. By leveraging blockchain technology LFE aims to enrich football and strengthen relationships between fans and clubs.
*Disclaimer – LFE Group are our Media Partners and therefore this content is sponsored by them. The fees paid by this project are used to pay for The Daily Chain salaries, dev work, hosting services, travel expenses etc.. that are required to make this company a success and continue to provide the community with great content on a daily basis.