New Era of the Sports Industry. Support Young Football Players Through Tokens

New Era of the Sports Industry. Support Young Football Players Through Tokens

Blockchain Sports is the first international sports project building the future of world football, by combining advanced IoT, AI, VR, and blockchain technologies.

At the beginning of the year the official presentation of the Blockchain Sports Ecosystem project gathered more than 5000 people under the roof of Coca-Cola Arena, one of the biggest indoor arenas in the Middle East. 

Many world-famous football legends like Kevin Kuranyi, a German professional player, Zico and Romario from Brazilian national team, David Trezeguet, who played for the Italian national team and is a double champion of France and Italy, Westley Sneijder a Dutch former professional player with a record for the number of matches played, Marco Materazzi, a former player from the Italian team, and others joined the project as ambassadors and curators. 

Dmitriy Saksonov, CEO of Blockchain Sports, and the team have already established three football academies in Brazil (Rio De Janeiro, Acopiara, Sobral) and scouted over a hundred talented young players from favelas to become the first digitized athletes. The project, supported by the Brazilian government, announced the launch of its custom blockchain solution, Atleta Network. Among numerous groundbreaking products, the network encompasses NFT Marketplace with digital cards representing each academy player.

These cards are created by implementing athlete tokenization. This process allows users to directly support their favorite athletes through a secure and transparent ledger via purchasing digital tokens.

READ  WorkML.ai Launches WML Token and AI Global Annotation Hub

How athlete tokenization works

Blockchain Sports breaks down the athlete tokenization process into five clear stages, ensuring transparency and accessibility.

Stage 1: Identifying the Stars of Tomorrow

The project employs a rigorous quality assessment process. A team of experts analyze an athlete’s performance and current skills. During games and training sessions, players wear IoT sensors that capture their statistics, such as speed, activity time, etc. This meticulous evaluation culminates in assigning a fair market value to each athlete, ensuring a balanced foundation for the tokenization process.

Stage 2: Building trust. Partnering with the athletes’ organizations 

Transparency is paramount. The athlete’s affiliated organization plays a vital role by providing verified data and endorsing the tokenization. This ensures the legitimacy and qualifications of the athletes, fostering a secure and trustworthy environment for all participants.

Stage 3: From player to pixel. Minting the tokens

Once verified, Blockchain Sports leverages blockchain technology. They mint unique ERC-1155 standard tokens, or simply digital cards, for each athlete. These tokens represent ownership and a connection to the athlete’s journey.

Stage 4: Balancing the ecosystem

Accessibility is key. Blockchain Sports strategically issues the tokens, offering 20% to the public. This ensures widespread participation within the ecosystem. The remaining 80% are securely stored in an escrow, specifically allocated to create liquidity pools. These pools guarantee a robust marketplace for future trading, allowing users to easily buy, sell, and trade their athlete tokens.

Stage 5: The Initial Athlete Offering (IAO)

The grand finale arrives with the IAO. This pivotal event allows users to start purchasing tokens of their chosen athletes.

READ  Fiat Gateway Defexa Makes an U-turn to Become World’s First Memecoin Bank

BCSports’ athlete tokenization isn’t just about a new financial instrument; it’s a game-changer for the entire sports industry. Traditionally, athlete investment was an exclusive club for institutions and the wealthy. Now, passionate users can finally join the game, directly supporting their favorite players and sharing in their triumphs.

For athletes, tokenization breaks free from the limitations of traditional sponsorships. They can directly connect with their fan base, monetizing their talent and building a deeper connection with their supporters.  This system also empowers athletes with greater transparency and control over how they’re marketed.

The impact goes beyond individual athletes and users.  A dynamic new ecosystem is emerging within the sports industry. Organizations gain powerful tools for fan engagement and revenue generation, while sponsors unlock targeted partnerships with tokenized athletes, reaching a passionate and highly engaged audience. 

Visit website to learn more about  academies, athlete partnership  and upcoming products | Watch exclusive athlete training content on instagram | Stay connected with the latest news and updates on X

The post New Era of the Sports Industry. Support Young Football Players Through Tokens appeared first on BeInCrypto.

All credit goes to the original author and article which can be read here:
https://beincrypto.com/new-era-of-the-sports-industry-support-young-football-players-through-tokens/