FANCHAIN: HYBRID FUNGIBLE/NON-FUNGIBLE CRYPTOCURRENCY WITHIN A DECENTRALIZED SPORTS ECOSYSTEM

tszone2 (0)(1)in #bitcoin • 6 years ago (edited)

Sports fans are emotional, vocal, and huge consumers of all types of media. Brands that can directly connect with them have an opportunity to create massive digital engagement and crucially, get them to act on calls to action. The results from the Fan Engagement Study conducted by Catalyst, an IMG consulting firm showed almost 70 percent of sports fans who “like” or follow brands on social media are willing to take additional action during sports events, including purchasing, commenting or sharing brand content. Content strategy is a major component for any brand, and this study reinforces that sports fans frequently consume and engage with social content that takes them well beyond the box score.

FanChain is developed by SportsCastr for use on its platform and on other affiliated sports platforms or venues in which fans create value. SportsCastr’s FanChain ecosystem will include blockchain-powered digital goods, tips, premium subscriptions, and pay-per-view (“PPV”) functionality and an enterprise-grade SDK that will allow its technology to be integrated into existing OTT systems.

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 FanChain token leverages a unique combination of fungible and non-fungible characteristics that enable teamloyalty and affinity to be embedded within individual tokens, and which can be produced and transmitted across multiple platforms via a DApp-powered “minting” system. The decentralized and open-nature of the ecosystem allows it to be adopted by online publishers, fantasy platforms, social networks, sports teams, leagues, over-the-top (“OTT”) platforms, stadiums, and arenas — both online and on-location.

FANCHAIN ECOSYSTEM
• A user creates content, or some other value, for a specific sport, team(s), game, league or related event on a UGC platform that is approved to be a Mint.
• Note: The role of a Mint is to categorize content and stamp tokens. It cannot issue new tokens - only distribute tokens that are already in its possession.
• The user receives FanChain tokens containing metadata that are “stamped” with the team(s), league(s) 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 (or other sports-related event).
• 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.

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We plan 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.

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Apps, websites, media and other entities will be able to easily accept FanChain tokens for goods and services by integrating a FanChain token payment gateway (“software plugin”) called “FanPay”. The gateway will allow thirdparties to easily offer discounts or offers only to holders of specific team tokens.
We will launch a website listing all rewards and prizes that can be exchanged for FanChain tokens on FanPrizes.com. FanPrizes.com will be the first platform to the use the FanPay payment gateway, allowing us to develop, test and implement FanPay in a live environment. Please note that not all rewards or prizes may be directly sponsored by or associated with SportsCastr (especially as the number of Mints continues to grow) and additional terms and conditions may apply.

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PARTNERS

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TOKEN SUMMARY
Token Name: FanChain
Ticker: FANZ
Token Type: ERC20 with ERC721-style attributes
Payments Accepted: ETH
Maximum Tokens Sold in ICO: 330MM
Maximum Tokens Minted: 600MM
Token Distribution: TBD
Decimals: 4
Token Lock-Up Date: TBD

TOKEN ALLOCATION
Maximum tokens sold to public: 330MM
CGP: 60MM
PIP: 60MM
Bounties: 18MM
Company Reserves: 120MM
Buffer: 12MM

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USE OF PROCEEDS
Operating: 30%
Marketing: 20%
Broadcast Rights/Licensing: 20%
Content Production: 10%
Legal: 5%
Fanprizes: 5%
Buffer: 5%
Acquisitions: 5%

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ROADMAP
March 30, 2018: FanChain DApp/token development complete
May 2018: Token security audit by Hosho complete
June 2018: FanChain announced
June 2018: Bounties Open in partnership with Bounty0x
Q3/Q4 2018: FanChain added to exchanges
Q3 2018: Web based FanWallet launches
Q4 2018: FanPrizes.com launches powered by FanChain
Q4 2018: FanExchange launches
Q1 2019: FanWallet for iOS/Android launches
Q1 2019: SportsCastr channel subscriptions powered by FanChain launches
Q2 2019: SportsCastr pay-per-view powered by FanChain launches
Q2 2019: Mint DApp/API launches
Q2/Q3 2019: SportsCastr for Android launches
Q3/Q4 2019: SportsCastr SDK launches

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TEAM
Kevin April – CEO
Peter Azuolas – CTO
Drew Mccala – Lead IOS Engineer
Dakota Berg – Lead Designer
Nick Schupak – VP Community

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ADVISORS
David Stern – NBA Commisioner Emeritus
Steve Smith – NBA Player & Entrepreneur
Chuck Baker – Co-Chair, OMM
Jim Boeheim – Head Coach, Syracuse

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