The revolutionary blockchain technology is finding its applications in almost every field and now SportyFi is using this technology for the field of sports and entertainment.
Based on the Ethereum’s blockchain technology, SportyFi is the first decentralized sports investment and funding ecosystem that aims to directly connect athletes, organizations, and clubs with investors and fans.
The larger aim is to create an alternative form of sports financing using the virtual digital currency and opening new frontiers for athletes and organizations alike to raise sports funds on a global scale.
Many Olympians, athletes and legends from the sports community have pledged their support to SportyFi. The latest one to join the club is football superstar and FB Barcelona legend – Ronaldo de Assis Moreira – famously known as Ronaldinho.
Ronaldinho announced the support for this project on his Twitter handle:
Excellent idea and a wonderful project – a platform to connect young athletes and investors, helping them fulfil their sports potential. The token crowdsale is going on right now, so check out the idea and support it! https://t.co/0qWv1SmV5e #ICO #Blockchain pic.twitter.com/NToHqYHuZM
— Ronaldinho Gaúcho (@10Ronaldinho) December 8, 2017
In addition to Ronaldinho, other prominent names from the sports community include Brazilian football legend Roberto Carlos, former NBA player Primoz Brezec, ski jumping legend Noriaki Kasai, a former alpine skier from Sloveni, Špela Pretnar and many others.
“A great project which I am happy to support: SportyFi will work with young athletes at the most crucial point in their career and will give fans and small investors the opportunity to support them.”
The team is also advised by several prominent names from the world of finance and cryptocurrency which includes Charlie Shrem, Joseph Weinberg, and Peter M. Moricz.
SportyFi launched its crowdsale token on November 2, 2017 that ended yesterday on December 10, 2017. Just in a time period of first 24 hours of the crowdsale, the team managed to raise successfully above its soft cap.
All in all, the startup has successfully managed to raise over $5 million with close to 600 people participating in the crowdsale. Once the ICO wraps up, the SportyFi SPF Token will be listed on several exchanges with the first listing starting on HitBTC on December 11 (i.e. today) at 3 pm UTC. Just two days later on December 13, the tokens will also be launched on Livecoin.net.
The launch of SPF tokens on the exchange will help SportyFi get some mainstream visibility in the crypto community before the final launch of the platform in Q1 of 2018. The alpha version of the platform is currently going through internal testing and will enter the beta phase in the next month of January 2018.
All the SPF Tokens are now unlocked, owners can move them to other wallets. All the crowdsale participants will get the bonus due to the ETH price fluctuations in the recent days which will be deposited to the same from where one has contributed to the platform.
SportyFi wrote on its Medium Blog :
“In addition to 2998 SPF Tokens for 1 ETH (+ the 10% bonuses some of you received) every participant gets approximately 706 additional SPF for each 1 ETH contributed (exact number to be calculated).”
Further detailed explanation and the maths behind this calculation is available here.
We are waiting to see this project going live soon next year, and believe that it can offer athletes and organizations a unique platform to collaborate and contribute towards increasing awareness through financial support for different sporting activities.