FanChain: SportsCastr Video Streaming Cryptocurrency
The idea of live digital video was around since 1968, but only recently it became a dominant trend. For live streaming to become a daily habit, it should be adopted and actively pushed by the major communication and entertainment platforms, which is already happening. YouTube offered Live Broadcasting for years, but it was mostly limited to the desktop usage and embraced only by the professional vloggers. To start using live streaming on YouTube, you have to go through a number setup steps, which is tricky for the regular users who want to make their first stream of the moment happening currently. As media reports, to double down on the live video game, YouTube created dedicated live streaming app YouTube Connect, and it will be interesting to see how YouTube’s live video initiative will evolve after YouTube Connect hits the market.
For live video to become a dominant communication medium among regular users, not only passively consumed content produced by celebrities and brands, live streaming has to be directly integrated with the automated social sharing mechanisms. This is why live streaming idea gained traction so fast since the Meerkat introduced it on Twitter and recently became a significant trend when Facebook launched live video on its core app, and it's no wonder why Zuck is so aggressively pushing live video to the market. Active live video sharing will create a lot more user generated content.
Today, second screens are increasingly used to enhance the viewing experience, and live video streaming is a proven avenue of content production and fan engagement for media personalities. SportsCastr is a live streaming company that allows anyone to become a color commentator, and enables viewers to select which sportscaster they wish to have call, recap or make predictions on a game. SportsCastr is both a second-screen experience and a first-screen social OTT platform. SGI MB are the Company’s lead investors.
** SpoortsCastr platform provides several features, include in:**
- Studio-quality graphics
- Real-time scoreboards
- Virtual reality integrations
- Fast delivery.
Recently, the company has announced a launch of FanChain, a cryptocurrency specifically created for the sports industry. FanChain is a token and crypto-economy built specifically for SportsCastr and the global sports market. The FanChain token leverages a unique combination of fungible and non-fungible characteristics that enables team loyalty to be embedded within individual tokens, which can be produced and transmitted across multiple platforms. FanChain aims to connect a fragmented landscape of fans, athletes, teams, leagues, and media entities. Third-party entities can be whitelisted to distribute and reward fans and users with FanChain tokens.
SportsCastr created the FanChain token because the team saw a need to adopt a cryptocurrency “that would embed team affiliation within an individual token.” The reason was because sports fans don’t typically follow a particular sport or league: they follow individual teams. In other words, teams can use FanChain to create their own ERC20-compliant tokens. FanChain tokens are stamped with metadata that associates them with specific teams, leagues, or events.
Technically, FanChain will be used to tip color commentators within the SportsCastr platform. You might follow a specific color commentator for specific games and teams, for example, and reward that color commentator with FanChain tokens. FanChain creates a feedback loop that incentivizes fans to contribute to the value creation of their favorite teams:
Fans share commentary and/or are actively engaged on user-generated-content (“UGC”) communities instant - Mints categorize UGC by tagging it with specific team metadata and reward content creators with appropriately-stamped FanChain tokens digital_gift - Fans redeem the tokens to unlock account upgrades or purchase goods or services, including digital goods for other fans.
FanChain ecosystem including all of the following:
Digital goods will allow viewers to reward sportscastr’s with FanChain tokens. Viewer can use these digital goods to tip their favorite contributors throughout a broadcast. Viewers who send the greatest value of digital goods climb the fan leaderboard for that sportscastr, earning notoriety and garnering attention for their own streams.
PAY-PER-VIEW AND SUBSCRIPTIONS
Viewers will be able to use FanChain tokens to unlock pay-per-view (“PPV”) streams and other paywalled content. This premium content may include live sporting events, private chats, behind the scenes footage, or select user-generated-content that is not publicly available.
Apps, websites, media publishers and other entities will be able to easily accept FanChain tokens for goods, services and access by integrating a FanChain token payment gateway called “FanPay”. The software-plugin will allow third-parties to easily offer discounts or offers to holders of specific team tokens, both online and on-location.
SportsCastr plans to develop a web-based trading exchange where users may exchange the stamped FanChain tokens of one team for FanChain tokens stamped with a different team. This will allow users to build a collection of stamped FanChain for their favorite teams while reducing tokens stamped with teams they have less allegiance to.
A wallet for web and mobile devices will be developed that will provide a visual breakdown of FanChain tokens by team, the ability for users to select and send team specific tokens, the ability for users to send specific stamped FanChain tokens to other users and to see and consume offers available to those who hold specifically stamped tokens.
All users of the SportsCastr platform will be exposed to an easy-to-use, highly-secure integrated FanWallet. The wallet will allow users to send and receive FanChain tokens, convert FanChain tokens to Tix, and track their in-app earnings and purchases… all from within a single app.
*SportsCastr is in no way sponsoring or paying me to create this article, however, by entering the FanChain bounty program, I’m eligible to receive 200 FanChain Tokens from SportsCastr. Any statements or views expressed in this article are my own and not those of SportsCastr. For more information about FanChain and the bounty program, visit https://FanChain.com
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