The world of professional sports features a high financial barrier for both young players and investors, but the upcoming SportyFi ICO will change that with the creation of a decentralized sports ecosystem where players, fans, and investors can mutually support each other in achieving their dreams.
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Sports is an integral part of the human existence. People come together to root for their favorite team or player, and athletes show what the human spirit is capable of through hard work and determination. Plus, sports helps one learn and grow from both winning and losing. Many young athletes have dreams of becoming a pro, and numerous fans and investors wish they could take a more active part in the sports world. The problem is that there’s a significant financial barrier for athletes and investors to gain entry into the sports world, but this will change dramatically with the SportyFi ICO launch on November 14th, 2017.
It Takes More Than Hard Work to Become a Pro
Not only does it take time, effort, and grit to become a professional athlete, it also takes a great deal of money. Many young athletes and their families find themselves unable to pay for equipment, trainers, tournament fees, travel expenses, and more. This is why so few young athletes ever reach the pros. Only 3.4% of high school basketball players in the US make it to the NCAA, and of those who do, only 1.1% reach the NBA. Likewise, many investors would like to participate in the sports world, but the opportunities are not there unless one has millions of dollars. This is where SportyFi comes into play.
Creating a Sports Ecosystem for Everybody
SportyFi is a decentralized sports ecosystem based upon the blockchain that allows fans, investors, and athletes to achieve their goals through mutual support. The bedrock of SportyFi is the Smart Manager Platform, which consists of a Donations module and Investments module. Athletes, as well as sports organizations and clubs, create an online profile, detailing their personal history, goals, needs, and notable achievements. People can choose to donate SPF Tokens, via the Donations module, to a specific athlete (or sports club or organization), and the athlete may offer some form of thank you reward in response.
The Investments module of the Smart Manager Platform allows individuals to invest in an athlete (as well as clubs and sports organizations) they see potential in. The athlete sets up an investment campaign and offers a percentage of their future earnings over a specific time period as a return. These future earnings can include image rights, sponsorships, tournament winnings, and so on. A blockchain-based smart contract is generated when an individual decides to invest in the athlete of their choice. The investment return is then shared among the investors, calculated by their level of support. With SportyFi, the barrier to being an active participant in the worldwide sports business is swept away.
The SportyFi ICO
The SportyFi ICO is scheduled to begin on November 14th, 2017. There will be a pre-sale beforehand that will be by invitation-only. Up to 200 million non-mineable SPF Tokens will be issued during the crowdsale. The exact exchange rate between SPF and ETH will be determined on November 13th and be locked in for the duration of the crowdsale, which will last for 17 days, based on the valuation of $0.12 for 1 SPF Token. The full breakdown of the 200 million SPF Tokens is:
- Up to 134,000,000 SPF Tokens (67%) will be distributed to the contributors in the SPF Token Crowdsale.
- Up to 36,000,000 SPF Tokens (18%) will be distributed to the Founders and Team.
- Up to 20,000,000 SPF Tokens (10%) will be distributed to the Advisors and Ambassadors.
- Up to 10,000,000 SPF Tokens (5%) are intended for future incentives for fast growth (i.e. future strategic partnerships).
Contributors to the SportyFi ICO can gain a 10% bonus in their SPF Tokens by either contributing within the first 72 hours of the crowdsale or by contributing more than 100 ETH. The SportyFi ICO will feature a hard cap of $16 million USD.
SportyFi is a decentralized sports ecosystem that solves several problems. First, it removes the financial burden that young athletes face while training to become a professional, allowing them to focus all their attention on becoming the best they can be. SportyFi enables fans to financially support their favorite sports club, organization, or athlete and be recognized for their support.
Lastly, investors do not need to have millions of dollars to enter the financial side of the sports world. Through the Smart Manager Platform, they can take part in a blockchain-based smart contract that offers them a percentage of an athlete’s future earnings for an investment made now. The launch of the SportyFi ICO on November 14th removes the high price barrier that currently keeps many young athletes and investors frozen out of the professional sports world and gives everyone a chance at achieving their dreams.
Images courtesy of YouTube/SportyFi, PxHere, Pexels