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Standard intellectual property licensing agreements can be generated to automatically transfer ownership rights through a token, where the licensed IP use can be monitored and tracked in real time — opening the doors for an intellectual property (IP) token marketplace.Sounds out of this world, but this can already be achieved today.Imagine working part or full-time while running marathons weekly.Tokens could be created through a digital generation event where they are created, programmed, and purchase by anyone who wishes to participate.This is the second post of a three-part series about how blockchain technology will improve the sports industry.Each part discusses new and exciting trends at the cutting edge of blockchain technology and sports. A token is an entirely programmable digital asset that can represent anything, including shares in a bond, ownership of a piece of real estate, or participation in an investment fund.Fan bases are passionate, global networks that are stuck with legacy tools and a limited localized reach.
Blockchain provides the potential to enhance existing ownership models through the inclusion of fan-driven ownership benefits both large and small.
Green Bay Packers stock provides no dividends or earnings, isn’t tradeable, and offers no securities regulation protection.
Tokenization presents an opportunity to further incentivize fan ownership and create new business models. Fans would also be enticed by non-monetary benefits to fractional team ownership, such as governance rights, facetime with owners and players, or access to special events for fan owners.
team logo and player likeness), which can then be represented as cryptographically secured tokens and managed via a blockchain.
Tokenized licenses save money since licensors have better transparency and control over how their licenses operate, significantly reducing any risk of human error or fraud.