Paper: arXiv 2404.08906

Authors: Lennart Ante, Aman Saggu, Benjamin Schellinger, Friedrich Wazinksi

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.

Complexity vs Empirical Score

  • Math Complexity: 2.5/10
  • Empirical Rigor: 6.8/10
  • Quadrant: Street Traders — practical and empirical, lighter on theory

Why this score: The paper relies primarily on empirical descriptive statistics and regression models rather than complex quantitative mathematics. However, it offers strong empirical analysis on an original, large dataset (3,576 polls) covering an under-researched niche of crypto assets and fan governance.

Research Flowchart

  flowchart TD
    A[Research Goal: Evaluate Fan Tokens for Fan Engagement & Decision-Making] --> B[Data Collection: Dataset of 3,576 Fan Token Polls]
    B --> C[Statistical Analysis & Determinant Modeling]
    C --> D[Key Findings: ~50% Holder Participation Avg 4,003 Voters/Poll]
    C --> E[Key Determinants: Voter Agreement, Poll Type, Sector & Demographics]
    D & E --> F[Outcomes: Strategies for Sports Engagement & Broad Organizational Utility]

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1 of 82 cited works are in the corpus; resolved via arXiv source bundles, Semantic Scholar and OpenAlex. Corpus-wide: 2518 linked papers.