Say what? World Cup footballers issuing their own cryptocurrencies? Does that even make sense? Would demand for these virtual coins created some sort of rabid “token frenzy”? Could this expand the popularity of football? Is it possible that trading the crypto coins of World Cup soccer stars could catch on worldwide?
The answer to those questions is a definite maybe.
One World Cup Player Already Has His Own Cryptocurrency Coin
On May 27, attacking midfielder James Rodriguez launched his own coin. Conveniently, it was issued a few days before the kick-off of the World Cup. Appropriately named JR10, Rodriguez’ very own cryptocurrency can be used by coin holders for “football-related souvenirs, fan club meetings and other perks related to the athlete”.
The coin was “sponsored and brought” by SelfSell. They are a Chinese company. They handled everything that needed to be handled including an advance online auction. SelfSell offered a small number of the JR10 token in the auction and the results were big and fast. $500,000 was raised in only 12 seconds.
So, yes. We have World Cup footballers issuing their own cryptocurrency.
What is Your Reaction?
This really got my attention. Not so much that a sports star put out his own token, but the dollars in seconds thing. What if that kind of frenzy continued for the JR10 token? What if the frenzy spread to other coins issued by other sports figures?
Look at it this way. James (as he is often referred to by just his first name) is a pioneer of sorts. I think only three other professional athletes have issued their own cryptocurrency. So let’s take a position.
Every World Cup Footballer Should Issue Their Own Coin
If all the stars of the game put out their own digital currency, the sport would become more popular. Imagine how more World Cup footballers issuing their own cryptocurrency would changes people’s view of the game.
For whatever reason, most people on the planet simply don’t care about soccer. To them, it is just a bunch of guys running around kicking and heading a ball. One big collective yawn. The fans go crazy and non-fans have no idea why.
Is it because the non-fans have no real connection to the game or the players. Why should they care about the game and the players if they are not directly affected? There’s certainly some patriotism if your country’s team wins, but that pride is not tangible.
Could cryptocurrency can change that in the blink of an eye? Imagine all the players with their own virtual coin. Catchy names would add to the promotions. Henderthereum, Barrioken, and more. Wacked out graphics, over the top videos, saucy launch parties is swanky environs. Think of the BUZZ!
But what would the coins be used for? Does it really matter?
Ever hear of EOS? That crypto project raised $4 billion and nobody knew what the coin was for. Seriously. Those cryptocurrency coins had “no rights, uses, or attributes.”
If it worked for EOS, why wouldn’t it work for football stars? There could be a willowy connection to stuff. Having a valid use for the coin like there’s a use for the JR10. That would add legitimacy. Perhaps, though, most folks would just “grab” coins to speculate.
Influencing the Coin’s Value
Perhaps the price of coins would be influenced by player performance. The better a player is playing, the more demand there would be for their coins. And vice-versa.
Trading, therefore, would be spiking during game times. Coin holders would be “adjusting their investment” during the game depending upon the performance of the coin issuing player.
Instead of “just a game” with a bunch of overfit athletes running around, all the coin holders would now have “skin in the game”. Their investments are running around on the field. Real-time price flow charts, animated even, could be used showing moment by moment ups and down. Investors surely would be interested in that type of excitement.
The Players Themselves
Many issuers of cryptocurrency coins hold on to a substantial number of coins for themselves. Surely the coin issuing players would do the same.
So, if the played well their own fortunes would improve. I can see that no matter what the amount of their salary, greed and the large amounts of value involved would be a tremendous motivator.
This would especially be true if there were large screens around the field showing the coin price fluctuations. If a player is screwing up, the coin price plummets and thus so does the players own wealth. If the player is having a great game, the price reflects that. Financial self-interest would spur the players to play their best.
What if this could spread to off the field actions and behaviors too. Being involved in a scandal or running afoul of the law would cause the coin’s price to plummet. Working with and donating money to charities could result in the price rocketing upwards.
Wrapping it Up
All of this may, on the surface, seem like an exercise for the imagination. Perhaps even a bit silly. However, maybe in the not too distant past, people thought that professional athletes like World Cup footballers issuing their own cryptocurrency was far-fetched.
And maybe, not too long ago, some thought the whole idea of virtual money was ridiculous too.
It appears that just about anything can, indeed, happen.