Sportcash One: helping fund talented athletes with blockchain
The International Olympic Committee reported in 2016 that there are approximately 2 billion athletes worldwide – but far less than 1% of these earn enough money at the sport they love to make a living playing it. Sportcash founder Roberto Moretto wants to change that.
Sportcash One was born out of this desire to try and help the remaining 99%+ of athletes that don’t earn enough to keep playing the sport they love. Blockchain technology and tokenisation play a major role in that process.
Roberto Moretto has spent more than 30 years as an Athlete/Coach and Entrepreneur in various sports industries and has experienced first-hand the difficulties some athletes face in getting even a single sponsor to help them defray the costs of competing in their favoured sport.
The vast majority of today’s Teams, Clubs and Athletic associations barely earn enough to make ends meet. With the ever-escalating cost of insurance, travel, facilities and equipment, most teams and associations find themselves in a constant struggle to field their teams, market their games and provide a reliable source of income for their players.
Sportcash One aims to level the playing field and increase the reliability and real dollar funding for many Amateur and Professional Athletes, Teams, Clubs and Athletic associations, by democratizing their ability to receive financial support from around the world.
‘Through the use of cryptocurrency, a customized Digital Wallet, and our Utility Token $SCOne, we want to be able to bring together Professional and Amateur Athletes with Sponsors and Athletic Brands’ explains Roberto. ‘Through these partnerships we plan on allowing the Athletes to earn a greater financial reward for practicing their craft and Brands such as Nike, Adidas, UnderArmour, Asics, Puma etc. to benefit by promoting athletes in heretofore underserved worldwide markets. This will allow these same Brands to increase their own market penetration’
Sportcash are taking a novel and multi-pronged approach to support these Athletes and Clubs. One of the approaches is to create an Online Shops program that will allow both Vendors and Customers to pay for items and sponsorships with $SCOne, thereby reducing and almost eliminating all transaction fees, so the money goes where it is intended instead of to third-party banking intermediaries. Customers benefit because now they will be able to support their favourite athlete without having to worry about exchange rates. Vendors will benefit because now they are paid almost immediately, and they do not have to worry about high transaction costs and fees. Meanwhile, Sportcash One benefits due to the increased volume of transactions on the platform, which drives revenue, social awareness and familiarity.
‘Another route we are taking is through our Sports Social Network, which will allow for increased media coverage of these athletes,’ continues Roberto. ‘It will allow the athletes to post their own videos, promote their own events and even offer up tickets to some of their most popular events. This program will greatly increase the awareness of the athletes but will also help increase the volume of transactions on the Sportcash One Platforms.
The aim is to create a value-added service for clubs and associations by offering them the ability to white-label their own Utility Club Token for use on the platform. Sportcash One will handle back end administration, programming, exchanges and trades offering a turn-key solution that can help increase fan engagement.
A Loyalty Program can be used to offer discounts on purchases as well as other non-monetary benefits, like autographs, first in line for ticket sales etc. And a sponsorship program that will allow individuals and corporations to sponsor charities of their choice. Further plans include an online magazine for advertising, a trading platform so members can exchange memorabilia, tokens and other items of value.
All of these programs – the Loyalty Program, Sports Social Network, Online Stores, Digital Magazine, Charity Program and the White-Labeled Club Token – are designed to increase awareness, usability, customer engagement and profitability for all parties involved.