Since blockchain had been rapidly developing for these several years, people found that it has more potential than just be a kind of currency. More importantly, blockchain, the underlying technology of bitcoin, has the unlimited capacity even more valuable than bitcoin itself can be applied in the development of different kinds of applications, which have the same characteristic, which is decentralization.

One of those sectors whereby application of the blockchain technology is also needed is in the area of sport, but unfortunately, we are seeing many blockchain projects with neglect to the one pertaining to sports.

With SPORTX however, the game is about to change. The game changer is creating a transparent, measurable sport equity asset based on blockchain and smart contract using a decentralized, efficient and credible trading environment that can be more easily participated by athletes and fans.

THE PROBLEM & SPORTX AS A SOLUTION

In the past, the distribution of benefits in the sports arena was extremely unequal owing to its high centralization, the asymmetrical information, the non-transparent transaction and the distrust between two parties of the transaction thereby bringing confusion and inefficiency to the market.

There is a wide gap between players and fans. To some extent, the heart of the sports industry is the fan economy. The value of IP is largely determined by the fan/consumer. Superfans have created superstars, but unfortunately fans have not been able to get any benefits of the IP value increment from the star-making campaign they started.

Similarly, there is the issue of trust barrier. In the traditional sports agency business, lack of trust is a natural barrier between players and agents, which also results in the best players finding it difficult to get the best service.

In the same vein, there is also the problem arising from the prevalence of intermediary and the confusion in market value. The centralization of the eco-structure is breeding a large number of agents which not only produce no value, but also undermine the communication among the players, the sponsors, clubs, and fans.

Using the blockchain technology, SPORTX is set to solve all this problems and lots more. SPORTX platform is a precise sports IP value transmission platform based on blockchain technology, created by the project team after sufficient market research and analysis, combining its own powerful offline resource integration and marketing capabilities, to build primary, secondary and tertiary markets of derivative goods based on players’ ability, potential, achievement, prestige, etc.

The SPORTX platform is composed of the bottom blockchain accounts, the SPORTX ecochain portal, player token distribution platform (primary market), player token exchange (secondary market), APP, DAPP, enterprise service middleware, SDK, API and so on. It takes platform token (SOX) and player token as the platform of eco-internal value transfer tool.

CONCLUSION

Sports industry is a globally recognized sunrise industry in recent years and undoubtedly, sports stars, big clubs and super sports leagues have brought great wealth for the society. The global sports industry is moving toward a highly commercialized road. With the right personnel as team members and the blockchain technology as the change agent, SPORTX is going to subvert the industry and create a huge market with rapid growth. Be a part of this great project.