Meet SportyFi – SPF Token – The Blockchain-Based Solution For The Sports Industry
With over a thousand digital assets already in the market, for survival, cryptocurrencies and companies are coming up with diversification to the application of blockchain technology to sectors of the economy and everyday human endeavors. SportyFi (SPF); the first cryptocurrency for the sports industry is one.
What is SportyFi (SPF)?
SportyFi is crowdfunding program running on the blockchain technology. It is a unique platform where athletes, coaches, and teams can access funds. SportyFi is led by Marko File and supported by Simon Zgavec, an experienced attorney. It was launched on November 14, 2017, with a market capitalization of $16 million (USD).
The sports industry is one plagued with entry bottlenecks for rising athletes and investors. SportyFi (SPF) was born to solve this problem. It will help connect growing athletes, investors and clubs with the funds, the professionals, and assistance they need to thrive. SportyFi also provides smart contracts for investors and teams to ensure trust, and reduce transaction costs.
SportyFi runs on two models; the donations and the investment model. Rising athletes use the donations model to create profiles and showcase their achievements in other to raise funds. Athletes, teams, clubs, and other sports organizations use the investment model to create profiles, list their current goals and make a decision as to how the investment from an investor will be used.
Acceptance of SportyFi (SPF)
SportyFi has worked to gain acceptance and recognition, with legends, Olympians, sports officials, and coaches openly voicing their support for the initiative. Among such includes popular football legend Roberto Carlos, Ski Jumping Legend, Noriaki Kasia, retired NBA Player, Promoz Brezec, and other high-profile personalities in different sports.
Roberto Carlos said:
“I’m very happy to support SportyFi, which 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. Let’s find the next superstars together!”
Problem of SportyFi
SportyFi is an amazing idea for a cryptocurrency and can be a great investment choice for crypto enthusiasts. The major risk attached to this digital asset is its low market capitalization and distribution of the tokens from its initial crowdsale.
With this factors, the price of SportyFi tokens can be easily manipulated. However, its market capitalization is expected to grow in the nearest foreseeable future, solving the initial problem.
Status of SportyFi (SPF) in the Cryptocurrency Market
As at the time of this writing, SportyFi is currently trading around $0.2 apiece. The token holds a market capitalization of $10.5 million (USD).