Fanchain: Because Sports Fans Deserve More
We are seeing a different breed of sports fans these days, the kind that is not content with simply watching their favorite games on TV. Cable TV is no longer bringing them the level of excitement they desire. Sports enthusiasts, nowadays, are looking for a more interactive experience. They want more engagement. They want to be proactive. ESPN or some other sports network on cable TV doesn’t have this capability to respond to this kind of behavior. True, the network can still get fans excited to a certain point, but not beyond. That is why you can find most of them watching sports on social media platforms because here, get to enjoy live coverage and the opportunity to freely talk to other fans, express their own views. Even though they’d be arguing extensively on social media platforms, but this they’d rather do than just sit in front of the box, screaming their hearts out, and listening to the standpoint of the sportscaster.
Fortunately for rights holders, social media networks, and atheletes themselves, the shift in the fans’ viewing behavior is increasing their popularity, resulting to increased revenues. But, unfortunately, for the fans themselves who make this possible in the first place, they don’t have a share in the revenues. It doesn’t seem fair, does it?
Perhaps, fans, are not really complaining because they probably have not realized yet that the value they create for their favorite athletes can be just as financially rewarding for themselves, too. This idea must have seem preposterous before, but not anymore with the adoption of blockchain technology, smart contracts and cryptocurrencies, all of which pave the way for a tokenized ecosystem, consequently making it increasingly possible to reward all participants of the ecosystem, the fans not the least of them all. The technology of blockchain keeps things fair for everyone.
This is the technology behind FanChain, a sports entertainment platform, that aims to take the fans’ sports watching experience a notch higher by rewarding them. While developed primarily for use on the Sportscastr platform, itself an already decentralized video platform with an array of sports legends behind its back, FanChain is groomed to serve other sports platforms, too.
If social media platforms currently allow only live streaming with fan engagement to a certain degree, FanChain does a lot more by rewarding fans for doing what they already are doing on social media. As it does so, FanChain also empowers sports leagues and teams, as well as publishers, media and social media outfits to encourage fan engagement and the delivery of high quality content by offering rewards and merchandise. It’s an endless cycle, and a growing network, as the rewards and benefits incentivize each player in the ecosystem to do what they are supposed to do.
The FanChain ecosystem typically begins with the user creating some form of content on a User-Generated Content (UGC) platform that is approved to become a Mint. Once approved as a Mint, the platform will have the capability to categorize content and stamp the token by team or league. In return, the user receives FanChain tokens stamped with the team or league. Fans creating the value or content, therefore, are guaranteed to receive only those tokens that targeted to their specific team or league. Token balances and breakdown of stamps associated with the tokens then show up on FanChain token-compatible wallets, moving third-parties to offer privileges and exciting deals to token holders.
The ecosystem simply looks like this:
FanChain also plans to have an exchange platform, FanExchange, allowing token holders to exchange stamped tokens of one team with stamped tokens of another team. The end result of this is to increase the user’s supply of stamped tokens of his/her favorite team, and consequently reduce the number of the stamped tokens of the team less favored.
There are plans, too, to introduce a payment gateway, FanPay, and to develop a plugin that can easily be integrated into apps and websites, enabling them to accept FanChain tokens (FANZ) for any item or service. The plugin will be initially integrated and tested on FanPrizes.com, a website that will feature rewards and prizes redeemable for FanChain tokens.
FanChain employs a sustainable business model, capitalizing on the billions of sports fans around the globe and the necessity to provide them a highly rewarding and engaging viewing experience.
Token Details:
Token Name: FanChain
Ticker: FANZ
Token Type: ERC20 with ERC721-style characteristics
Maximum Tokens Sold in ICO: 330MM
Maximum Tokens Minted: 600MM
For more information, visit the following pages:
Whitepaper: https://qryptos.s3.amazonaws.com/uploads/ico_project_info/white_paper_file/9/QUOINE_FanChain_WhitePaper_1.0g.compressed.pdf
Bitcointalk ANN Thread: https://bitcointalk.org/index.php?topic=4423520
Website: https://www.qryptos.com/ico/FANZ
Telegram: https://t.me/joinchat/HMX3kA5Y_7f1BO7i_jRqSA
Twitter: https://twitter.com/sportscastrlive
Facebook: https://www.facebook.com/sportscastr
Bitcointalk User: Kalikanan
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2079149