No sport can thrive in the absence of a passionate horde of fans to rally behind it. Yet the same fans who make a sport popular, turn it into a multibillion-dollar industry and allow players to pursue it as a profession are seldom rewarded for their support and dedication.
Granted, no true sports fans support their favorite teams and players hoping for monetary incentives. But what if there was a platform that rewarded fans for their dedication to sports in general? Well, that is exactly what a new blockchain-based platform called Fan360 is hoping to accomplish.
Fan360 is still a work in progress, but it is already appearing to be a tangible idea (on paper, at least) with a sustainable roadmap to tap in on the roughly $75 billion global sports industry. But considering the long road ahead of it, which is to include a sizeable initial coin offering (ICO), it remains interesting to see how far the company succeeds with the implementation part.
Tokenized Incentive Program
For starters, the Fan360 project is designed to provide sports fans with a holistic overview of everything that is unfolding in their favorite sports in real time. With a promise to offer the “complete fan experience,” the platform consolidates scores, statistics, and info from social media and news sites in one place so users can personalize them based on their preferences.
In other words, Fan360 is committed to ensuring that sports fans don’t have to visit multiple sports websites or download multiple apps to stay informed and updated.
But that’s not all! The company has announced that its existing 130,000 users, as well as all new Fan360 users, will be rewarded for their engagement on the platform with fan tokens. While details are still emerging, the company has promised that fans will be rewarded with FAN tokens for all their activities on the Fan360 site/app, which they can later exchange for fiat, merchandise or other special experiences such as getting to meet their favorite sportspeople.
Speaking of the seemingly ingenious idea to keep passionate sports lover engaged on the platform, Kevin Harrington of the original Shark Tank and one of the early investors in the Fan360 project said:
“For me and many sports fans it’s not just about the game, it’s about the whole experience as a fan. Fan360 is a blockchain powered platform that takes the fan experience to a new level, rewarding fans for engaging and giving them a voice.”
Fan360 ICO Token Sale
Here are a few important points about the FAN token in a nutshell:
- Fan360 users will receive the token based on their activities on the site/app (such as for original content, likes and shares).
- The Fan360 merchandise store will accept FAN tokens alongside other payment methods.
- Sports fan can purchase tickets for matches using FAN. All tickets bought with the token will be validated using blockchain technology.
- Fans can also pay for special experiences using FAN tokens.
The company has announced that there are 50,000,000 FAN tokens in total, of which 30,000,000 (60 percent) are available for crowd sale.
Of the 40 percent left out of the crowd sale, 13 percent will be retained by the founders and the internal team. Ten percent will be reserved for advisors and ambassadors, another 10 percent for reward pools, 6 percent for future partnerships and 1 percent for a bounty pool. Each FAN token is currently valued at $1.