Implementing trades of the National Football League Draft on blockchain smart contracts

Abstract

Purpose Demonstrate proof-of-concept for conducting NFL Draft trades on a blockchain network using smart contracts. Design/methodology/approach Using Ethereum smart contracts, the authors model several types of draft trades between teams. An example scenario is used to demonstrate contract interaction and draft results. Findings The authors show the feasibility of conducting draft-day trades using smart contracts. The entire negotiation process, including side deals, can be conducted digitally. Research limitations/implications Further work is required to incorporate the full-scale depth required to integrate the draft trading process into a decentralized user platform and experience. Practical implications Cutting time for the trade negotiation process buys decision time for team decision-makers. Gains are also made with accuracy and cost. Social implications Full-scale adoption may find resistance due to the level of fan involvement; the draft has evolved into an interactive experience for both fans and teams. Originality/value This research demonstrates the new application of smart contracts in the inter-section of sports management and blockchain technology.