Sports Fanatics: It’s Time to Put Your Money Where Your Mouth is and Get Rewarded for it.

The World Cup Season is finally here. As blockchain enthusiasts, it could be pretty exciting to use applications like Benicoin to bet for our favorite teams using blockchains immutability in order to secure our bets. It could also be awesome to use Footballcoin to flex our football skills by creating football teams, managing them and winning exciting prizes at the end. These are just some of the few exciting concepts around blockchain and sports. As the World Cup is happening, there are many ways that blockchain enthusiasts could enjoy watching their favorite teams, while using blockchain to make an impact in the football world. An exemplary company that we are sure to see making an impact in future World Cups is Globatalent.

What is Globatalent?

Globatalent is a blockchain that aims to decentralize sports. It intends to create a blockchain market that allows investors and fans to invest in their favorite clubs or players. The investment in these entities lets investors and fans receive returns by buying and selling future benefits from players’ image rights, transfers, prize money, salaries, ticketing, TV contracts and any other income. Imagine the possibilities. Fans will not only be investing their emotions in sports, but they will be investing in their favorite players and sharing their benefits with them. Imagine investing in Neymar Jr., Mo Salah and the famous nemesis duo, Messi and Ronaldo. This is a true case of putting your money where your mouth is.

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Why Globatalent? What’s the problem they are solving?

The global sports community around the world is in need of a decentralized system that helps players get financial support to carry out their activities. Moreover, the community is also in need of the elimination of third parties in taking advantage of clubs and athlete’s financial needs. This is the sad reality that most players come across in their lives.

Rights that are around players and athletes are centralized within a few companies and agents. For instance, in football, to transfer a soccer player, there are a few agents who own 100% of the market. Moreover, FIFA banned hedge funds and big investors from buying transfer rights of soccer players due to the controversy this raised within the football industry. This was the first step in decentralizing the power of sports as fans should also have ownership within this sector.

In order to ensure decentralization further, Globatalent aims to bridge this gap by creating a public blockchain that will ensure fair-play commitments within the sports industry. They will do this by developing a tool that will allow players to sell their rights to their fans. This can allow the clubs and players to fund their activities from the partial sales of their future income. Moreover, fans can invest in their idols as opposed to just supporting from the sidelines.

How does it work?

In order for both fans and players to benefit from this, it’s crucial to know how it really works. The player will first offer their advance sale of their future income, for instance, Ronaldo might put up 10% in exchange of $300,000. The platform will then tokenize the 10% by creating 30,000 new tokens which are related to the player or the club. These are Globaplayer tokens and they are valued at $10 per token. It is worthy to note that these tokens follow the ERC20 standard. After this process, fans can start buying these tokens. The rules that govern the tokens are that, when the club sells its right to another club or a player receives their income, they token holders are entitled to receive their set percentage of the profits.

Okay, that’s quite simple. What is the business model?

The company takes a fee equal to 3% of each transaction, in the form of Globaplayer tokens. All the tokens sold, enter the secondary market and fans can trade these with each other.

What is the technology behind this cool application?

The application is built on top of the Ethereum platform due to the dApps ecosystem that it has.

The first layer of Globatalent uses Ethereum to build smart contracts that are aimed at generating all the tokens, together with their properties. After creation, these tokens merely exist as an address in the Ethereum network. The second layer is around the exchange. Upon creation of the tokens, they are sent to another Globatalent Smart Contract ERC20 of the token launch. This is meant to manage the distribution of the tokens. The athletes that take part in the ecosystem will have their tokens based on the original token. The difference however between players, will be the name of the token, symbol, number of tokens issued and the price. This means one might own a Neymar Jr. token, with a #10 symbol at $12. This token would definitely generate a lot of income during this Russian World Cup. The third layer is integration. This is where the API’s and Libraries exist. They handle the functional intermediaries between the exchange and the application using communication protocols. The last layer is the application, where users are offered tools and utilities to operate with their tokens. This can either be a wallet or a desktop application that allows a user to customize preferences and receive token status.

Okay, I’m interested, but…how do I obtain these tokens?

It’s a very user-friendly and simple process. The whole process however, is specific to each country. As a fan or investor, you must meet your country’s criteria and also meet the Globatalent AML/KYC policies. Once these are met, you will have access to the token exchange platform, where you can buy the number of tokens you want. The payment can be done in major fiat currencies (USD, EURO) or cryptocurrencies accepted by the exchange.

When can I start using this exciting platform? (The Roadmap)

May-September 2017: Concept development

November 2017: Whitepaper

December 2017: Company is founded

March 2018: Mockup

April 2018: Testnet Launch

April-June: Partner Onboarding

June 2018: ICO CROWDSALE (1 MORE DAY!!!!!)

June 2018: Kick-off

July-September: MVP Release

October-December 2018: PLATFORM RELEASE!!!!!!!!!

Any cool supporters?

Luis Suarez: Football fans, you know what to do.
Maurice ‘Mo’ Evans: NBA fans, this is your chance.
Dani Clos: F1 fans are also taken care of.
Joao Sousa: Tennis fans are not forgotten.
Dani Redondo: Kyokushin fans, Globatalent cares.
This is one dApp to look out for in the sports world. It’s one application that puts fans in touch with their favorite players and idols. If it existed now, most of us would be cashing in from the current World Cup 2018. Hopefully the famous nemesis duo; Ronaldo and Messi will be in the next 2022 World Cup so as to allow their fans to cash out from the game.