Sports have always been one of the sectors that have widely accepted blockchain technology. The global sports market had reached $488.5 billion in 2018 itself and has gone up further. With time this industry is going through tremendous changes and not just in terms of sports, but from a technological perspective as well.
Football is undoubtedly one of the sports that are adopting blockchain technology and cryptocurrencies. Being the most popular sport on the planet, there is a huge market for cryptocurrencies that ranges from tickets to collectibles.
A lot of money is involved in the game every day as clubs are often required to continually exceed standards and operational challenges that are leading to ever-growing costs. The growing costs often lead to friction in the football community and clubs start to alienate fans by becoming completely dominated by rich owners.
With an aim to create the ultimate sports community, The London Football Exchange (LFE), a financial, technology, media and entertainment group set foot in the industry. LFE enables fans to purchase shares of football clubs while also allowing them to build a football club portfolio of their favorite clubs around the world.
LFE has created a tokenized marketplace that helps to remove friction costs in the delivery of fan services such as ticketing, merchandise, hospitality, and broadcast using the LFECash token (LFEC).
LFEC is now listed on Bithumb Global
According to a tweet from LFE, LFEC will now be listed on major South Korean crypto exchange Bithumb Global on January 23. Deposits are scheduled to start at 18:00(UTC+8) on the day of launch and trading will begin on Jan 26th, 2020 at 09:00(UTC+1). The token will be available in two trading pairs namely LFEC/USDT and LFEC/BTC. The token has a circulating supply of 128 million and a total supply of 4 billion.
Bithumb Global confirmed the listing with an announcement on their website and a tweet on their official twitter page.
Commenting on the listing, Jim Aylward, head of LFE said:
“This is another step in the evolution of the London football exchange and The LFEC token. Bithumb are established and well run. They have the ability to assist us and the adoption of LFEC as we scale up and get closer to an active vibrant ecosystem. VIVALFE”
BitHumb Global, one of the most popular South Korean exchanges, is among the leading crypto exchanges in South Korea and Japan in terms of the trading volume. LFEC was already listed on crypto exchange StellarX which adds to its foundation. Headquartered in Seoul, the exchange will help LFEC to reach out to a broader audience and further help with the company’s goal to create a tokenized football ecosystem.
Alongside this, LFE has recently entered into a Software Management & Content Licensing Agreement with Bravio Technologies. Bravio will undertake the development, supply, and ongoing management responsibility for a “first of its kind” fully operational digital iGaming vertical platform. The platform is poised to feature LFECash and potentially real money related to iGaming entertainment including poker, slots/casino.
For more information on LFE:
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