As sports has modernized over the years it isn’t just about passion and hard work, another factor that plays an equally important role be it soccer, tennis, cricket etc. is money.
The action, the blood, sweat etc. now move in tandem with financial factors such as player contracts and sponsorship deals. While the financial backing has seen significant improvements in sports across the globe it’s also made it tougher for the younger, talented crop of players to come through without little to none financial backing.
And that’s where SportyCo. believes it can make a difference by bringing in the decentralized benefits of the blockchain technology and they have already stepped the pursuit of their goal.
Early February they teamed up with RCD Espanyol, a soccer team that plays in the Spanish top division the La Liga and have further received endorsements from the biggest names in the footballing world such as Ronaldinho.
What is SportyCo
The company only recently rebranded itself to from SportyFi to SportyCo and state that they are decentralized sports funding and investment platform with a goal to make entry into the big time leagues easy for younger athletes by eliminating the existing financial barriers with the help of Ethereum based blockchain, a technology that has time and again proved its utility.
SportifyCo uses the blockchain technology for crowdfunding thus making it easier for athletes to generate the funds in SportyCo tokens which can later be exchanged for fiat currency. This helps athletes travel to worldwide tournaments, attend important training sessions at distant camps and get the gear that could help them perform better.
SportyCo keeps a small amount of the raised funds as administration fees. The SPF tokens are ERC20 Tokens and thus can be easily stored on any ERC20 compatible wallet once you have purchased them from an exchange like Livecoin, HitBTC or Okex.
In early December 2017, they collected over $5 Million through an ICO and have gained plenty of spotlight from world-class athletes including Roberto Carlos (their partnership manager). Apart from that, Bitcoin advocate and pioneer Charlie Shrem and Phillip Nunn, CEO of The Blackmore Group have publicly backed the project.
The platform is expected to launch in March 2018 and if it is delivered as promised it’s sure to bring about an evolution is the realm of sports.
What do you think about the SportyCo platform? Do. You think it can really help the younger generation of stars to fulfill their potential?