The SportyCo Ecosystem
SportyCo is introducing a brand new industry of sports crowd micro-financing, while providing athletes, clubs and sport organizations with macro-funding on their respective end. Enabling a direct financial link between the participants on both respective ends. Blockchain-based, low transaction costs, and the introduction of smart contracts into the world of sport, as well as DAO voting, will be the core of the SportyCo Ecosystem.
The SportyCo Smart Manager Platform
The Smart Manager Platform (the “Platform”) is a blockchain-based sports crowdfunding Platform, acting as an intermediary 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, a club or any other sports organization.
Anyone connected with sport will be able to create profiles listing their current achievements and future plans and expectations, and the types of investment they are looking for in order to finance their goals. On the other end, the SportyCo Smart Manager Platform will enable the public to get involved in sport on a personal level, acquiring a stake, for instance in the career path of a young athlete by supporting them financially as they progress. The crowd is always stronger than the 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 sport 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 are able to raise funds by creating profiles, listing their current achievements and plans for the future, and their specific crowdfunding goals. Opening an account on SportyCo will be free of charge, with built-in mechanisms available to guide the participants through profile creation, including basic info, call to action and the fundraising target, with support for photos and videos. Furthermore, the platform will offer each athlete predetermined 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 counseling 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 popular 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, club or other sports organization can offer a long-term deal to financiers by committing a share of their future income or other 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 are able to create profiles listing their current achievements and plans for the future. Athletes will be free to choose their investment goals, and decide what purpose the invested funds are used for (e.g. costs of training or equipment, travel and accommodation costs to attend competitions, participation fees, and similar). Athletes are free to decide what kind of rights 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. When opening an account, each investor will be assigned an ERC20 compatible wallet. Once the wallet receives SPF Tokens, the investor is ready to start making investments.
It is entirely up to the investor to decide on the athlete, team, club or sports organization they will invest in. 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 of athletes, teams, clubs or sports organizations in order to pick those with the greatest potential and the most favorable prospects of a high return on investment.
Investors will be able to invest into athletes, teams, clubs or other sport organizations and in exchange for an upfront investment receive (and alongside those guidelines to which the athletes will be advised to structure their campaigns):
- a share of the future image rights of an athlete;
- 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.