Voting Participation and Engagement in Blockchain-Based Fan Tokens

arXiv - QuantFin - General Finance Pub Date : 2024-04-13 DOI:arxiv-2404.08906

Lennart Ante, Aman Saggu, Benjamin Schellinger, Friedrich Wazinksi

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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 3,576 fan token polls, we reveal that fan tokens engage an average of 4,003 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互动性

本文研究了基于区块链的粉丝代币的潜力，粉丝代币是一类加密资产，能让持有者获得对俱乐部决策的投票权和其他福利，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 3,576 个粉丝代币投票的扩展数据集，我们发现粉丝代币每次投票平均有 4,003 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度的重要决定因素，包括选民（不）同意程度、投票类型、体育部门、人口统计和俱乐部层面的因素。本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意见。它还提出了提高粉丝参与度的策略，从而优化粉丝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，这表明这一数字创新具有更广泛的潜力。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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arXiv - QuantFin - General Finance

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