Unnamed sources say that IPL fan tokens are in the works and will likely be powered by Polygon. Co-founder and Polygon COO Sandeep Nailwal has also alluded to such a development in the company’s public statements, he remarked “Polygon will have some exciting developments coming public shortly with relation to Indian sports.”
The IPL fan tokens will be fungible, not non-fungible tokens. Users may purchase these fungible tokens in the same way as Bitcoin, Matic, or Ethereum. With these tokens in their hands, Nailwal believes opportunities will be abundant for fans to make use of the value that has been created around them.
This, however, is not a new phenomenon in the world of cricket. Three IPL teams — Punjab Kings, Royal Challengers Bangalore, and Kolkata Knight Riders — teamed up with Socios earlier this year to establish a token platform for fans to be involved with the competition. Some of the biggest names in Bollywood are also getting into the crypto game, establishing their non-fungible tokens (NFTs) for the benefit of their followers and other crypto enthusiasts.
In the opinion of experts, there are no limits to how fans may become involved in a blockchain project. For supporters, this is a way to vote or make choices about their teams and assist address governance concerns by issuing tokens. Having such a token may entitle its owner to unique privileges, such as reduced prices on items, invitations to special events, and even free seats to sporting events.
