Technology / 03.16.22

PACNet Panelists: Time to Take Data-Driven Risks

Access Staff

VenuesNow (03/10/22) Zoltak, James

The PACnet '22 Community Conference focused on such topics as revenue generation and taking advantage of the latest trends in live sports and entertainment. Ari Daie, founder and CEO of Fevo, said the pandemic-expedited digital transition comes "in year six of a 10-year massive demographic shift," with Gen Zers and millennials projected to outnumber baby boomers in the next four years. Daie added that cryptocurrency will be a key tender for purchasing sports and entertainment experiences and products. There will also be a greater gambling presence in sports venues, according to Google's Mike Lorenc. "It's all about of getting skin in the game and making watching games much more interesting because you have a vested interest," he explained. Meanwhile, Recur co-founder Trevor George argued against the perception of nonfungible tokens (NFTs) as a fad, noting they offer an opportunity for both NFT makers and owners. "When you sell an NFT, it keeps transacting on the blockchain over and over again and everyone's interests are directly aligned from who won or lost that game to the success or failure of your franchise and to how many friends socialize about it, because that's where the blue checkmark is," he said. In a session on offering more options for fans and patrons, Michael Solomon with Texas A&M's 12th Man Foundation spoke of developing the Gig 'em Pass, which gets fans seven vouchers usable for each of the team's seven home games or some combination if they want to bring others in.

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Tags: News , NFT