TokenStars aims to be a platform that decentralizes the talent management agency by tokenizing sports personalities and athletes.
They plan to disrupt the talent management agency by allowing token holders to take up the role of scouts, promoters, and analysts for sportspersons. People will get a chance to fund sports personalities, whom they believe will have a strong chance to make it big, directly. And it will, in turn, allow sportspersons to grow their fan base and attract sponsors.
This platform will enable the athletes to increase their own value, by bettering their playing skills and their celebrity status. One can invest in young athletes now, with the expectation that they will become famous in the future.
The platform will focus on major sports such as football and tennis, and go on to expand to other sports such as hockey, basketball, and poker. TokenStars will also go on to involve celebrities and movies stars to increase the fan following and to reach out to people who are currently not involved on blockchain. It will decentralize the process of analyzing, scouting and investment.
How It Works
TokenStars allows one to bet on a player before they establish themselves as professionals. The investors are supposed to put in money behind those players they believe will go on to earn millions. Once the player manages to become famous, the investor gets a cut from the prize money and endorsement money earned by the player.
This platform will end up giving young players an opportunity to continue honing their skills and expand their fan base. This will also help allow the player to gain recognition and continue to hone their skills, rapidly and in a secure way. Investors will be able to provide young players with the support and critical resources that will prevent them from dropping the sport at an early age. They will be able to commit to their game and not worry about insufficient funds for the purpose of spending on stuff like equipment and medical insurance.
It will also make sure scouts are motivated to look out for better talent. The value of the token keeps growing as the players and athletes bet on gain more and more fame. This will ensure that the scouts focus on talent that actually shows significant promise. Moreover, trainers will also get paid an annual salary of $10,000 to work with a player.
Sports stars are known to go on to earn enormous sums of money through endorsements and prize money. They go on to sign deals with various companies and become stars in their own right. Hence this ecosystem does show a lot of promise.
This system is a unique way of expanding the sports industry and helps in getting rid of the control that currently resides solely with the talent agencies.
Decentralizing the Responsibilities
A lot will need to go into the project for it to pan out. However, since the sports industry has so many fans and variety of options, it really has a potential to establish itself. The token holders will have the distinct roles of scouts, promoters, and analysts.
The community will rely on the Decentralized Community Voting Mechanism, which will be responsible for making particular operational decisions. The platform will also employ Global Scouts Network and the Global Promoters Network to help with the process.cal reports that will help them make informed decisions instead of a biased talent agent relying on their gut feeling.
The responsibility of the scout will include finding hidden talent, assessing the players and helping the players to sign contracts using the Scouts Global Network. The promoters will be in charge of building the athlete's fanbases on social networks, helping with media coverage and PR and attracting sponsors.
Both the scouts and the promoters will also act as the analyst, voting on player selection and contract renewals, voting on promotors and head of scouting replacement and submitting proposals to the operational team.
TokenStars Tokens
As of now, TokenStars aims to have three types of tokens in the market. This includes ACE (for Tennis), GOAL (for Football) and CHIP (for Poker).
The ACE token will have the following functions: using the platform as a scout or promoter, buy advertising, provide exclusive training, communicate with players and allow users to avail exclusive offers.
It is only by this token that one could access the platform of TokeStars and be able to take part in it. The token would allow the person to have a right as a scout and a promoter. Moreover, it is obligatory for sponsors to pay the ACE agency fees in tokens, which will help in increasing the value of the tokens in the crypto market. All the revenue will be paid through the tokens and the players will be able to select their mode of payment.
Conclusion
This is truly one of the most innovative blockchain technologies to have come out recently and shows a lot of promise. The idea of turning athletes into digital assets, managed by a decentralized autonomous organization will definitely end up garnering support.
There is no denying that the world of sports is truly run by die-hard-fans. These fans and supporters would gravitate towards the ecosystem of selecting sports players and help in shaping the future of the sports world.
The project has the potential to establish itself as a full-cycle talent management agency with a strong team leading it.
To know more visit:
TokenStars ACE Website: https://tokenstars.com/ace/?utm_source=steemit&utm_medium=b_blog&utm_campaign=kishan748
Bitcointalk ANN Thread: https://bitcointalk.org/index.php?topic=2043613.0
Twitter: https://twitter.com/tokenstars
Telegram: https://t.me/tokenstars_en
Written By: Kishan
Btalk Profile name: Kishan748