- Plans to disrupt the USD 796 million sports industry in India
Chennai, 23rd December, 2021: BelfricsBT, one of the fastest growing blockchain platforms of India, today announced that it has signed MoU with Chennai City Football Club and KPR Info Solution to develop a first-of-its-kind Hybrid Blockchain solution for sports persons and club management. BelfricsBT shall be working closely with Chennai City Football Club (CCFC) who will be the knowledge partner and 1st adaptor of the solution and shall be sharing their domain knowledge to shape the product to deliver the business result. With this business inputs, BelfricsBT shall be architecting the blockchain solution and shall be the technology partner. BelfricsBT would be working closely with KPR Info Solution, the technology development entity of KPR Group, as a non-exclusive technology partner for the development of this innovative blockchain solution. This hybrid blockchain based solution for sports comprising of NFTs and Club tokens, to bring all the stake holders of the game on to on single decentralised platform.
Speaking on this unique initiative, Mr.Praveen Kumar Founder & CEO Belfrics Group said, “The disruption in the sports industry with the help of blockchain solutions is opening up multiple revenue streams for Sports Clubs across the world. This solution will be solving the bottleneck of sports and club management thus improving the player effectiveness and club’s operations and revenue. Sports clubs have seen a tremendous rise in India over the past 5 years with billion-dollar leagues in Football, Cricket, Kabaddi, etc. The global sports ecosystem open for blockchain adoption is valued at $22 Billion as of 2021 of which India has a market share that is worth USD 796 Million and we are looking at disrupting this sector with the help of our innovative blockchain solution.”
Mr. Gowrish Subramanian – CEO, KPR Info Solution said, “We, KPR Info Solution is happy to partner with BelfricsBT in developing blockchain projects, especially in sports industry which has numerous opportunities and we aim to be an integral technology compeer in future for BelfricsBT.”
Mr. Rohit Ramesh – Chennai City Football Club said, “We are delighted to be associated with Belfrics and KPR for this unique opportunity. As a club, it gives us a wider spectrum to look beyond and create better valuation for our players in various categories and for CCFC in the best way in the future with the influence of NFTs and fan tokens.”
Mr. Praveen Kumar further added, “This would be our first blockchain project with our partners KPR Solutions. Going forward, we intend to work with them and developing multiple such projects across all sports categories.”
Belfrics is one of the leading global blockchain technology firm and cryptocurrency exchanges which is focused to make the cryptocurrency technology and effortless to use and accessible to all with an easy to use interface. The company was created in 2014 by a group of competent entrepreneurs who envisioned the opportunities and benefits of cryptocurrencies as the future of the digital currency market. BelfricsBT, the blockchain technology division of Belfrics is already providing services to both government and private organizations for solutions that include car registration systems, ticketing systems, supply chain management and core data integrity management. Riding on the core values of ‘Transparency’ and ‘Fair Practice’, Belfrics believes in the highest standards of regulatory supervision and investor protection.