The FanChain Solution

FanChain provides a framework in which fans are rewarded with a token that can be used within the sports ecosystem to which they contribute, and creates a feedback loop that incentivizes the community to contribute to the social conversation that they rely on for an optimal sports experience. FanChain introduces the concept of “Mints,” which are powered by a DApp and which allows third-party entities to distribute FanChain tokens that are stamped with a specific sports team, league or event.

The core FanChain ecosystem consists of FanChain tokens, Mints, the FanWallet, FanExchange and FanPay. In simplest terms, FanChain works as follows:

A user creates content, or some other value, for a specific sport, team(s), game, league or related event on a UGC platform that is approved to be a Mint. The user receives FanChain tokens containing metadata that are “stamped” with the team(s), league(s) or sporting event that the user created content or value for as a reward. FanChain token compatible wallets will show a user’s total balance of FanChain tokens, and additionally provide a visual breakdown of the stamps that are associated with their tokens. This results in content/value-producers being rewarded with FanChain tokens that are unique to their favorite sports, teams, leagues (or other sports-related event). Third-parties can then offer special discounts, access, digital goods, promotions and features to FanChain users who hold a certain number of stamped tokens of a particular team, league, or other sport related events and organizations.

Cable is Obsolete

Behavioral trends and viewing patterns of sports fans have evolved. Fans rely on social media for authentic reactions during sporting events, and market research shows that younger demographics prefer receiving commentary directly from other fans versus on traditional broadcasts. For example, 50% of Tweets become sports-related during games. And although they are not alone in their preference, market research shows that Millennials and Gen Z viewers prefer to receive commentary directly from other fans versus listening to canned commentary.

The cable broadcast market has also experienced a massive shift. Cord-cutters have ushered in a new era in which digital-native OTT services and social networks such as YouTube, Facebook, Twitter and Amazon are becoming sources of live sports and replacing cable TV. Traditional cable broadcast networks, such as ESPN, are seeing revenue from flagship programs decline, and are losing substantial numbers of subscribers. The shift towards digital-first distribution platforms allows for commentary from fans and athletes to be integrated directly into live sports streams, opening up unprecedented opportunities for personalization and interactivity.

SportsCastr: Twitch + Pro Sports

The first platform to use FanChain tokens is SportsCastr. SportsCastr is an open, ultra low-latency live video platform that personalizes the fan experience by allowing the global sports population to choose who calls the game for them — or calls the game themselves. SportsCastr’s ecosystem includes a responsive web platform, mobile application and SDK that can integrate into existing OTT platforms.

The SportsCastr platform allows viewers to select which broadcaster they wish to have call, recap or make predictions on a game. Streams are enhanced by features such as broadcast quality scoreboards that update in real-time and on-air motion graphics that simulate a professional, live studio experience. SportsCastr is designed to encourage users to chat and interact with the broadcaster and other viewers during a live broadcast. SportsCastr supports a multitude of user types — fans, athletes, sports reporters, families, students — to live stream during games, share reactions and create original commentary. Following a simple signup process, users can go live in a matter of seconds — instantly notifying their fans via push notifications — and communicate and share the broadcast with viewers and followers across social media. SportsCastr is designed to be a second-screen experience, a first-screen experience, and integrated into existing OTT offerings.

Backed by Industry Heavyweights

Adoption is the biggest obstacle in crypto right now. By getting leaders in the Pro-Sports world up-to-speed with the emerging technologies, FanChain can help bridge the gap between the world-wide audience and the world of tokenized economies.