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The possibility of sports industry business model innovation based on blockchain technology: Evaluation of the innovation efficiency of listed sports companies

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  • Chenchen Lv
  • Yifeng Wang
  • Chai Jin

Abstract

The combination of blockchain and the sports industry is bound to be a trend in terms of innovation and the development of sports industry in the near future. Therefore, after analyzing the problems existing in the current business model of the sports industry, this paper takes 200 innovation indicators of 50 listed companies in the sports industry, among which 15 use blockchain and 35 do not use, as research samples and uses a three-stage DEA model to calculate their innovation efficiency. The results show that sports companies that use blockchain have better performance in terms of innovation efficiency than do those that do not, which illustrates the necessity of blockchain-based business model innovation. Then, by focusing on the internal structure and the case of the "vSport blockchain", this work shows that this business model innovation is feasible. The article first proposes a blockchain-based sports industry business model and then uses a combination of empirical and case studies to prove the necessity and feasibility of sports industry business model innovation.

Suggested Citation

  • Chenchen Lv & Yifeng Wang & Chai Jin, 2022. "The possibility of sports industry business model innovation based on blockchain technology: Evaluation of the innovation efficiency of listed sports companies," PLOS ONE, Public Library of Science, vol. 17(1), pages 1-24, January.
    • Handle: RePEc:plo:pone00:0262035
    DOI: 10.1371/journal.pone.0262035
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    References listed on IDEAS

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    Cited by:

    1. Xiaolong Wei & Tao Wang & Yang Chen & Oleksii Lyulyov & Tetyana Pimonenko, 2023. "The Effects of Population Aging on Sports Industry Development: The Mediating Effect of Technological Innovation," IJERPH, MDPI, vol. 20(3), pages 1-13, January.
    2. Hui Zhang & Huanhuan Xiong & Jianxin Xu, 2022. "Dynamic Simulation Research on the Effect of Governance Mechanism on Value Co-Creation of Blockchain Industry Ecosystem," Sustainability, MDPI, vol. 14(12), pages 1-18, June.
    3. Yina Zhang & Wu Zhao & Haiman Liu, 2024. "Effect of Digital Transformation in Sports Companies on Green Innovation: Evidence from Listed Companies in China," Sustainability, MDPI, vol. 16(19), pages 1-31, September.
    4. Chen, Zhengqiang & Ying, Hua & Chen, Qiaoyan, 2024. "Major sporting events, corporate social responsibility, and the value of sports-listed companies," Finance Research Letters, Elsevier, vol. 69(PA).
    5. Xiaolong Wei & Jianwei Zhang & Oleksii Lyulyov & Tetyana Pimonenko, 2023. "The Role of Digital Economy in Enhancing the Sports Industry to Attain Sustainable Development," Sustainability, MDPI, vol. 15(15), pages 1-21, August.

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