FANCHAIN - Cryptocurrency Created Specifically for Sports
ICO market is nowadays pretty similar to the Wild West during the gold rush period. It is possible to earn money very quickly, sometimes even good money, but you have to find a perfect spot, or in this case, a good project to invest. Common thing to the Wild West? No guaranties and almost no law. It is pretty easy to find bad cowboys which are going to promise you golden mountains to steal your last piece of bread. So in all this mess, if you want to find your gold nugget, you can trust just your own brain composites.
After my research, I found this project in which I really put my faith: FANCHAIN. Very likely you haven’t heard about them, project is made by great team members. Nevertheless, guys have an advantage, many other teams does not: already existing product made on a very perspective field. But these are not all pluses I found in this project. Below you can read the analysis and decide on your own, do you want to send some pennies to the pot.
FanChain is a cryptocurrency created specifically for sports fans, athletes, teams, leagues and sports media. Backed by sports legends and powerhouses including NBA Commissioner Emeritus David Stern & more, Fanchain is designed to fuel a decentralized sports entertainment ecosystem to meet the unique needs of the global sports market. FanChain intends to build a decentralized global sports entertainment ecosystem that utilizes a unique token platform to incentivize and reward active participation, content production, and ecosystem growth. Using SportsCastr's live-streaming platform, FanChain tokens can be paid to commentators who live-stream their own individual commentary for their own individual fanbase, giving television consumers the option to pick their favorite commentator.
The problem with the shift from fans as passive consumers to active content producers is that fans are not benefiting from the value they are creating for their favorite teams (and for other fans). Even though sports leagues are securing record-high distribution deals — and social networks are generating billions in revenue from usergenerate-content — fans have yet to be factored into the equation.
SOLUTION FANCHAIN OFFERS
FanChain provides a framework in which fans are rewarded with a token that can be used within the sports ecosystem to which they contribute, and creates a feedback loop that incentivizes the community to contribute to the social conversation that they rely on for an optimal sports experience. FanChain introduces the concept of “Mints,” which are powered by a DApp and which allows third-party entities to distribute FanChain tokens that are stamped with a specific sports team, league or event.
The core FanChain ecosystem consists of FanChain tokens, Mints, the FanWallet, FanExchange and FanPay. In simplest terms, FanChain works as follows:
A user creates content, or some other value, for a specific sport, team, game, league or related event on a UGC platform that is approved to be a Mint.
The user receives FanChain tokens containing metadata that are “stamped” with the team, league or sporting event that the user created content or value for as a reward.
FanChain token compatible wallets will show a user’s total balance of FanChain tokens, and additionally provide a visual breakdown of the stamps that are associated with their tokens.
This results in content/value-producers being rewarded with FanChain tokens that are unique to their favorite sports, teams, leagues
Third-parties can then offer special discounts, access, digital goods, promotions and features to FanChain users who hold a certain number of stamped tokens of a particular team, league, or other sport related events and organizations.
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.
UNIQUENESS OF FANCHAIN
FASTEST LIVE-VIDEO PLATFORM
The ultra-fast delivery from SportsCastr makes it the lowest-latency live-video platform out there *, resulting in an ideal second-screen experience while watching games at home or from the bench.
DIRECT SCORES, NO STUDIO IS REQUIRED
SportsCastr offers real-time game scoreboards from NFL, NBA, NHL, MLB, CFB, CBB, and even EPL and WNBA.
LIKE LIKE PRO
All elements in SportsCastr can be clicked and interactive, allowing viewers to engage with you and your broadcast in unprecedented ways.
ANY DEVICE, ANYWHERE
When you're ready to stream, just download the app or run it directly on your laptop or desktop computer.
MAKE YOUR OWN LINE CODE
SportsCastr will instantly send you a notification that lets you watch with one swipe. Can not watch live stream? Visit channel announcers anytime to pursue an action.
EXPERIENCE THE GAME TOGETHER
Regardless of where you are, you no longer have to be in the same room to enjoy the game with fans like you.
TOKEN AND ICO DETAILS
The FanChain Token is based on the ERC20 standard, but adopts the ERC721 style feature when distributed or received from the FanChain ecosystem (including a wallet that adds support for DApp).
TOKEN NAME: FanChain
TOKEN TYPE: ERC20 with ERC721-style characteristics
PAYMENT RECEIVED: ETH
MAXIMUM TOKEN SOLD IN ICO: 330MM
MAXIMUM TOKENS MINTED: 600MM
TOKEN DISTRIBUTION: TBD
TOKEN LOCK-UP DATE: TBD
TOKEN ALLOCATION & DISTRIBUTION
MAXIMUM TOKEN SOLD TO PUBLIC: 330 MM (Including personal and pre-sales)
CGP: 60MM Distributed Over 3 Years
PIP: 60MM Distributed Over 3 Years
BOUNTY: 18MM Distributed Over 3 Years
BACKUP COMPANY: 120MM (Including founders, teams, advisors, and future employees)
ROADMAP AND DEVELOPMENT PERSPECTIVE
Above you can see the roadmap — how the team sees their nearest and long-term future.
TEAM MEMBERS AND ADVISORY MEMBERS TO THE PROJECT
Team seems to be the strongest part of this project. It consists of innovative and talented people. Of course I cannot complain if we talk about their professional level, guys indeed are experts on their field. We are not just a company founded solely for ICO.
The FanChain token is the fuel that powers SportsCastr’s digital economy and user-rewards program, SportsCastr will act as a powerful on-ramp for new FanChain token adopters. SportsCastr will incentivize and reward its users — both content creators and engaged viewers —through a two-currency system. This two-currency system involves an In-App Currency, “Tix,” that mimics currencies commonly used in social games (e.g. FarmVille, Clash of Clans) and FanChain tokens, which are tokens built on the Ethereum blockchain. Be a part of this tremendous project and follow these links for more information;
Reddit: https: //www.reddit.com/r/SportsCastr/
Bounty Thread: https://bitcointalk.org/index.php?topic=4690168.0