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A USD 3.3 bn sports blockchain hub is coming to Saudi: Alpha Jossor Investments and UK-based Blockchain Sports Ecosystem signed an MoU to develop a smart sports city at a total investment value of USD 3.3 bn to the Kingdom, according to a press release. The sports city — the exact location of which was not disclosed — will feature an advanced football training academy with high tech analytics and supplemented with a digital real estate platform for an adjoining 1.5k villas and 3.3k apartments.
The financial breakdown: The residential units will account for USD 1.6 bn of the total investment ticket, while the remaining USD 1.7 bn is being earmarked for the remainder of the hub. The residential units will be built according to a smart city model that highlights sustainable and eco-friendly practices.
The pitch: The proposed complex will use Blockchain Sport’s solutions to create a digital ID platform for its athletes, according to its website. The ecosystem will rely on AI, Extended Reality (XR), and blockchain technologies to enable advanced performance tracking of athletes. This information will be available to partner academies across 16 countries via the digital tracking platform, “allowing secure and transparent transactions” as managers look to poach athletes based on their performance insights. The platform is set to be a world-first and will apply blockchain technologies to boost processes while also ensuring better data security.
What we don’t know: It is unclear what Jossor’s role will be under this partnership. The companies also did not provide details on the construction timeline for the project.
About Blockchain Sports: The tech company is partnered with 30 football academies around the world, and has offices in eight different countries across 3 continents. It boasts a team of over 1.2k tech and sports professionals, for the 10k football players training at their partnered academies. It is endorsed by more than 50 top footballers — mostly retired — including Brazilian stars Romario and Zico. The company offers a scouting service, talent spotting, performance trackers for players across competitions, as well as its multiple academies. It launched its Testnet Football Marketplace in 2Q 2024, and is targeting its first player card sales in the current quarter.
