Sport represents an important part of the daily life for many young athletes throughout the world, yet the odds of making it as a professional player are considerably low, due to the high costs associated with competing at a semi-pro level, prior to getting a access to a profitable contract that solves all of the financial issues.
Research has shown that out of 8 million students currently participating in high school sports within the United States, only 480,000 will end up competing at NCAA schools. Unfortunately, from this group, only a fraction will end up becoming professional athletes. For instance, out of NCAA athletes, 9.1% of baseball, 1.1% of men’s basketball, 0.9% of women’s basketball, 1.5% of football, 5.6% of Ice Hockey and 1.4% of male soccer players make it to major pro leagues, according to NCAA.
To help fix this issue, SportyFi has decided to start-up an entire industry of sports crowd micro-financing, therefore providing sport organizations, clubs and athletes with macro-funding, needed to become a professional athlete. The ecosystem achieves this through the introduction of smart contracts, DAO votes and blockchain technology in the sports market.
Apart from helping young athletes achieve their dreams, SportyFi also helps small investors unable to participate in the sports market system, entirely reserved for the big players. Through various platforms such as the SportyFi smart manager platform, donations module, investment module, professional funds, and more, SportyFi will reshape the sports industry, and therefore maximize the potential while also reducing the financial challenges for athletes and small-scale investors interested in the market.
Those who wish to get involved are welcome to participate in the token crowdsale, where a total of 200 million SPF tokens will be issued, with a set token value of $0.12. The ETH to SPF exchange rate will be set based on the ETH price one day before the token crowdsale. Distribution will be divided between the token crowdsale, founders, development team, advisors, ambassadors and future incentives meant for the smart and fast growth of the project. The purpose of the SPF token will be to allow investments, donations, purchase support, purchase special features and participating in DAO voting for future decisions.
Following the token crowdsale, a part of the funds will be directly allocated to the SportyFi Professional Fund, which will further on, invest in high-potential athletes, in exchange for benefits in the form of future return, such as prize money, transfer fees, image rights, and more.
This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.
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