The SportyCo Ecosystem
SportyCo is introducing a brand new industry of sports crowd micro-financing while providing athletes, clubs, and sports organizations with macro-funding on their respective end. Moreover, SportyCo is enabling a direct financial link between the participants on both respective ends. Blockchain-based, low in transaction costs, introducing smart contracts into the world of sport, as well as the use of DAO voting, will be the key elements of the SportyCo Ecosystem.
The SportyCo Smart Manager Platform
The Smart Manager Platform (the “Platform”) is a blockchain-based sports crowdfunding platform, connecting those with an active need for funding with contributing crowds on a micro level. The Smart Manager Platform can be used by anyone connected with sport, whether an athlete, a team, club, or any other sports organization.
Anyone connected to sport will be able to create a profile listing their current achievements, future plans and expectations, and also the types of investment they are looking for in order to finance their goals. On the other hend, the SportyCo Smart Manager Platform will allow the public to get involved in sport on a personal level – for instance, acquiring a stake in the career path of a young athlete by supporting them financially as they progress. The crowd is always stronger than the single individual!
Until SportyCo, only major conglomerates, corporations, and people commanding extensive amounts of capital were able to participate in the sports financing industry. SportyCo will turn the tables in this regard, giving the power of sports financing to the public — the fans and small investors. Each individual will have the opportunity to directly support an athlete or club of their choice, reaping the rewards of their success. In addition to simple donations, smart investment contracts will allow fans and sports enthusiasts to invest directly into athletes, clubs, or other sports organizations, with the aim of possible future returns.
The Platform will have two main modules: a crypto currency-based donations platform (Donations Module) and a cryptocurrency financial reward-based platform (Investment Module).
The Donations Module will offer athletes a blockchain-based donations platform where they will be able to raise funds by creating profiles, listing their current achievements and plans for the future, as well as their specific crowdfunding goals. Opening an account on SportyCo will be free of charge, with built-in mechanisms available to guide the participants through the steps of creating a profile, including basic info, call to action, and the fundraising target, uploading photos and videos. Furthermore, the platform will allow athletes to choose from multiple predetermined options or custom options for potential givebacks and rewards to donors.
The specifics of the presentation and fundraising campaign are up to the athlete or club, while SportyCo will offer free guidance (guides, instructions, FAQs). Furthermore, SportyCo's back office will provide additional live guidance and counselling sessions as a premium service.
An athlete campaigning on the Donations Module and opening their personal account will be assigned a personal SPF-compatible wallet (ERC20) with a unique personal key for the transfer of SPF Tokens (depending on the popularity of demand and technical capabilities, SportyCo might introduce an option for donations in ETH cryptocurrency or in other tokens of value within the Donations Module only—but not the rest of the ecosystem).
The second module of the SportyCo Smart Manager Platform, the Investment Module, will enable detailed sponsorship smart contracts of various types and, most importantly, complex investment smart contracts, where an athlete, a club, or other sports organization will be able to offer a long-term deal to financiers by committing a share of their future income or another revenue stream in exchange for an upfront investment.
The Investment Module will offer athletes, teams, clubs, and other sports organizations a blockchain-/smart contract-based platform, where they will be able to create profiles to list their current achievements and future plans. Athletes will be free to choose their investment goals and decide how to use the invested funds (e.g. training or equipment costs, travel and accommodation costs to attend competitions, participation fees, etc.). Athletes will be able to decide on their own what kind of rights they want to offer in exchange for the investment and will also be able to ask for low-interest peer-to-peer lending transactions.
Anyone aged 18 or over can become an investor on the SportyCo Smart Manager Platform. After opening an account, each investor will be assigned an ERC20 compatible wallet. Once the wallet will receive SPF Tokens, it will be possible for the investor to start investing.
Each investor will be able to decide on their own which athlete, team, club, or sports organization they will invest into. Although SportyCo’s back office will check and pre-approve each profile, it will be up to the investor to carry out adequate due diligence on athletes, teams, clubs, or sports organizations in order to pick the ones with the greatest potential and the most favourable prospects of a high return on investment.
Investors will be able to invest in athletes, teams, clubs, or other sport organizations. Moreover, in exchange for an upfront investment and alongside those guidelines to which the athletes will be advised to structure their campaigns, investors will receive:
- a share of the future athletes’ image rights;
- a share of future sponsorship proceeds;
- commercial rights relationships;
- a share of transfer rights;
- other athletes' economic rights.
Returns on their investment will be deposited back into their wallet on the SportyCo Smart Manager Platform.