Voting participation and engagement in blockchain-based fan tokens

IF 7.1 3区管理学 Q1 BUSINESS Electronic Markets Pub Date : 2024-04-11 DOI:10.1007/s12525-024-00709-z

Lennart Ante, Aman Saggu, Benjamin Schellinger, Friedrich-Philipp Wazinski

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Abstract

This paper investigates the potential of blockchain-based fan tokens, a class of crypto asset that grants holders access to voting on club decisions and other perks, as a mechanism for stimulating democratized decision-making and fan engagement in the sports and esports sectors. By utilizing an extensive dataset of 3576 fan token polls, we reveal that fan tokens engage an average of 4003 participants per poll, representing around 50% of token holders, underscoring their relative effectiveness in boosting fan engagement. The analyses identify significant determinants of fan token poll participation, including levels of voter (dis-)agreement, poll type, sports sectors, demographics, and club-level factors. This study provides valuable stakeholder insights into the current state of adoption and voting trends for fan token polls. It also suggests strategies for increasing fan engagement, thereby optimizing the utility of fan tokens in sports. Moreover, we highlight the broader applicability of fan token principles to any community, brand, or organization focused on customer engagement, suggesting a wider potential for this digital innovation.

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基于区块链的粉丝代币的投票参与度和参与度

本文研究了基于区块链的粉丝代币的潜力，粉丝代币是一种加密资产，持有者可以对俱乐部的决策进行投票并享受其他福利，是体育和电竞领域促进决策民主化和粉丝参与的一种机制。通过利用 3576 个粉丝代币投票的广泛数据集，我们发现粉丝代币平均每次投票有 4003 人参与，约占代币持有者的 50%，这凸显了粉丝代币在提高粉丝参与度方面的相对有效性。分析确定了球迷代币投票参与的重要决定因素，包括投票人（不）同意的程度、投票类型、体育部门、人口统计以及俱乐部层面的因素。这项研究为利益相关者了解球迷代币投票的采用现状和投票趋势提供了宝贵的见解。它还提出了提高球迷参与度的策略，从而优化球迷代币在体育运动中的效用。此外，我们还强调了球迷代币原则对任何关注客户参与度的社区、品牌或组织的广泛适用性，表明这一数字创新具有更广泛的潜力。

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来源期刊

Electronic Markets Multiple-

CiteScore

14.80

自引率

15.30%

发文量

期刊介绍： Electronic Markets (EM) stands as a premier academic journal providing a dynamic platform for research into various forms of networked business. Recognizing the pivotal role of information and communication technology (ICT), EM delves into how ICT transforms the interactions between organizations and customers across diverse domains such as social networks, electronic commerce, supply chain management, and customer relationship management. Electronic markets, in essence, encompass the realms of networked business where multiple suppliers and customers engage in economic transactions within single or multiple tiers of economic value chains. This broad concept encompasses various forms, including allocation platforms with dynamic price discovery mechanisms, fostering atomistic relationships. Notable examples originate from financial markets (e.g., CBOT, XETRA) and energy markets (e.g., EEX, ICE). Join us in exploring the multifaceted landscape of electronic markets and their transformative impact on business interactions and dynamics.