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, we model several types of draft trades between teams. An example scenario is used to demonstrate contract interaction and draft results.

Findings - We show the feasibility of conducting draft-day trades using smart contracts. The entire negotiation process, including side deals, can be conducted digitally.

Originality/value - This research demonstrates the new application of smart contracts in the intersection of sports management and blockchain technology.

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.