Decentralized Sports Platform SportyFi Reached Softcap in Less Than 24 Hours

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by Polina Chernykh · 3 min read
Decentralized Sports Platform SportyFi Reached Softcap in Less Than 24 Hours
Photo: SportyFi / Twitter

The project, which is supported by legendary footballer Roberto Carlos and bitcoin advocate Charlie Shrem, has managed to overcome its soft cap in just the first few hours of the crowdsale.

A decentralized sports investment platform SportyFi announced yesterday that it already crossed its softcap target, raising more than $1.5 million. According to the company, the goal was reached in the first 22 hours since the start of the crowdsale.

By reaching its first milestone, SportyFi stands out from other cryptocurrency projects most of which fail to attract enough investor interest and collect the required finances for further development.

“The work is not done, of course — this is just the first milestone of many we have planned, both during the crowdsale as well as later in developing the platform,” the company wrote in a blog post. “But starting of strongly is important, raising the confidence of potential investors in the days to come.”

Launched on Tuesday, the token sale will continue until December 8. Overall, up to 134,000,000 SPF tokens will be available during the sale, with each ETH entitling the investor to about 2,500 tokens. Big investors, contributing more than 100 ETH, can benefit an additional 10% bonus. The hard cap of the crowdsale is set at $16 million (minus potential bonuses).

Prior to an ICO, the company presented an alpha preview of their platform, which now undergoes internal testing. Meantime, a closed beta version is planned to be released by the end of year, while the final version is set for launch in Q1 2018.

SportyFi is a blockchain-based service that aims to revolutionize the sports industry, making it open to fans and small investors. The service is expected to facilitate investment in sports, allowing athletes to raise funds from all over the world to support their future career. By using the SportyFi platform, anyone will be able to become a sports investor, directly participating in one of the fastest growing industries.

The project is already backed by a team of famous athletes, such as former football player, Savo Milošević, a winter sports legend, Noriaki Kasai, and a Slovenian basketball player, Primož Brezec, among others. Recently, a legendary football player Roberto Carlos joined the platform as its sports advisor.

Earlier this month, the company welcomed Charlie Shreem, a founding member of the Bitcoin Foundation and one of the most recognizable bitcoin advocates, as an expert advisor on the technology and business matters. With years of experience in the crytocurrency and blockchain industry, the entrepreneur will help SportyFi to develop a revolutionary platform for the sports industry.

“I like projects that are applying the blockchain outside of the financial sector — and sports is an industry ripe for a revolution,” Shrem said.

Blockchain News, News, Token Sales
Polina Chernykh

Polina is an undergraduate student at Belarusian State Economic University (BSEU) where she is studying at the faculty of International Business Communication for a degree specializing in Intercultural Communication. In her spare time she enjoys drawing, music and travelling.

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