Since the inclusion and the revolution of the blockchain technology, a variety of industries have taken advantage of the opportunities that are available. The blockchain offers users an innovative way to access content creators, lender, property owner, and even consumers. It allows P2P financing to be leveraged by a new startup. One of the startups that are benefiting from the blockchain technology is SportyFi. SportyFi is a new platform that acts as a direct financial link between individuals involved in the sporting world. It is a new blockchain-based crowdfunding platform that functions as an intermediary that connects people who need to fund with supporting crowds on a micro level.
Who can use SportyFi?
SportyFi is a platform for sports personalities and for small investors. The platform can be used by people from different backgrounds. Some of the people who can use the platform include:
- Athletes: the platform removes all barriers for athletes and changes financing in the industry by deploying a blockchain-based financing platform, servings clubs, athletes and other organizations. The aim is to help them raise the needed funds to help them achieve athletic success.
- Investors: the sports industry is worth USD 620 billion and SportyFi enables people to invest in sports. SportyFi opens a new chapter in sports by disrupting the existing model for financing participants in the sports industry and by democratizing sports investment.
Feature of SportyFi
SportyFi has two key features which are described by the platform as the two pillars of SportyFi. These two features are:
The SportyFi smart manager Platform
This feature allows for donations, complex investment smart contracts and detailed sponsorship smart contracts of different types. The complex investment smart contract is a place where an athlete, a sports organization or a club can offer a long-term deal for a share of their income or other revenue streams.
The SportyFi Professional Fund
The SportyFi Professional Fund is invested in athletes who have greater potential in exchange for future return based on image rights, prize money, transfer fees and other rights of an athlete. The investment depends on the type of sport an athlete engages in.
SportyFi uses the SportyFi token (SPF) on the platform services and products. A total of 200 million SPF tokens were issued during the crowdsale period. The Pre-crowdsale period was for invites only and the number of token available were non-mineable. The conversion rate of the SPF stood at 2,998 SPF for 1 ETH + potential bonuses. SportyFi was cofounded by Marko Filej (CEO) and Simon Zgavec (Legal and Compliance).