SINGAPORE – April 30th, 2018 – SportX, the ecochain platform created with the intention of restructuring the way business is handled in the sports world, is proud to announce that it is soon to reach its next project milestone, which is that of beginning its proprietary digital token SOX’s (SPORT X platform token) ERC20 distribution, as well as finalize endorsement agreements with three major sports stars.
The new SportX cryptocurrency platform as well as the SOX token facilitate decentralized, accessible and efficient transfer of sports commercial value based on smart contracts and blockchain technology, aiming to address the most common “pain” issues associated with the sports market, mainly the lack of transparency; the prevalence of corruption; the presence of intermediaries; the inefficiency of value flow, and the overwhelming gap between fans and sports IP.
Providing a fully-transparent decentralized ecosystem, the SportX platform is an all-inclusive space wherein clubs, athletes and fans benefit from non-barrier access to sports IPRs issuing, development, promotion and exchange. Offering an abundance of IPRs, SportX allows anyone to gain a stake in the sports market; become a “crowd agent” of his idol/investment, and share a portion of the great wealth produced by the sports industry which is otherwise contained at the top of its current, highly centralized structure.
The SportX platform aims to establish “primary, secondary and tertiary markets of derivative goods” through developing a systematic, statistically-backed prediction model based on players’ current and future commercial, using SOX tokens as settlement tokens in the value transmission process. Players’ value will be calculated taking into consideration factors such as players’ abilities, achievements, potential, prestige, and demand, and, as a result, the most in-demand IP resources will be assigned higher value and thus higher pricing.
Participants in the SportX platform’s ecochain can exchange their SOX tokens for player-related products which can either be changed for players’ actual services, or be forwarded to the secondary market for transfer. SportX platform’s tertiary market can be utilized by investors for multi-level expansion.
“SportX is a disruptive concept that challenges the sports industry’s current architecture and proposes the implementation of a novel, blockchain-powered system that invites crowd participation and does away with the most common issues affecting the world of sports” said the founder of SportX.
“Our team has provided its services to some of the world’s top football clubs and top football players, while our project has already signed three of the most influential sports agencies in Europe as executive consultants. We will soon announce our collaboration with some of the greatest names in football, who will join Sport X as strategic partners. We are confident that their massive outreach, combined with our project’s fascinating premise, will help SportX gain legions of end-users that will contribute towards building a huge SOX buyers’ market.”
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