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

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.