Ico: FANCHAIN ICO REVIEW

The influx of people into the cryptocurrency market has made an astronomical rise in the adoption of blockchain technology. Numerous supporters, investors from different field of professions and businesses around the world have embraced new technological innovation which has helped reshape the world. One firm at the forefront of this innovation is FanChain, developed by SportsCastr and they are is building a decentralized global sports entertainment ecosystem that utilizes a unique token platform to incentivize and reward active participation, content production, and ecosystem.

FANCHAIN PLATFORM

FanChain is a cryptocurrency created specifically for sports fans, athletes, teams, leagues and sports media. Backed by sports legends and powerhouses including NBA Commissioner Emeritus David Stern & more, Fanchain is designed to fuel a decentralized sports entertainment ecosystem to meet the unique needs of the global sports market.

FanChain intends to build a decentralized global sports entertainment ecosystem that utilizes a unique token platform to incentivize and reward active participation, content production, and ecosystem growth. Using SportsCastr's live-streaming platform, FanChain tokens can be paid to commentators who live-stream their own individual commentary for their own individual fanbase, giving television consumers the option to pick their favorite commentator.

As the FanChain token is the fuel that powers SportsCastr’s digital economy and user-rewards program, SportsCastr will act as a powerful on-ramp for new FanChain token adopters. SportsCastr will incentivize and reward its users — both content creators and engaged viewers —through a two-currency system. This two-currency system involves an In-App Currency, “Tix,” that mimics currencies commonly used in social games (e.g. FarmVille, Clash of Clans) and FanChain tokens, which are tokens built on the Ethereum blockchain.

Mission
FanChain provides a framework where fans are rewarded with tokens that can be used in the sports ecosystem where they contribute. By giving incentives to the community to contribute to social relationships for optimal sports experiences, a wider audience reach is possible through personalized content for more niche markets. Through the contribution of quality content to the sports ecosystem that users can, positive feedback is made to encourage the demand for higher quality content, which in turn creates more incentives for the production of quality content.

Problem

The problem with the shift from fans as passive consumers to active content producers is that fans are not benefiting from the value they are creating for their favorite teams (and for other fans). Even though sports leagues are securing record-high distribution deals and social networks are generating billions in revenue from usergenerate-content — fans have yet to be factored into the equation.

Solution Provided

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.

FanChain aligns the interests of all stakeholders including fans, leagues, and media in several key areas:

Fans Are Rewarded For Supporting Their Favorite Teams
Fans earn FanChain tokens for sharing news, providing commentary and participating in the social conversation of their favorite team(s). Fans can then use their FanChain tokens to purchase goods, receive rewards, and access content from, for example, leagues, teams and media platforms.

Leagues And Teams Can Engage Fans In New Ways
Teams and leagues can offer rewards and access to their most engaged fans by targeting holders of their respective team-stamped FanChain tokens, and can accept FanChain tokens for merchandise or access.

Media And Sports Platforms Can Increase Fan Engagement
Online publishers, OTT platforms and social networks can distribute FanChain tokens to encourage participation and user-generated-content (“UGC”) that increases viewership, revenue and adoption.

FANCHAIN ECOSYSTEM

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, 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, league 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

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.

FEATURES

DIGITAL GOODS

Digital goods will allow viewers to reward sportscastr’s with FanChain tokens. Viewer can use these digital goods to tip their favorite contributors throughout a broadcast. Viewers who send the greatest value of digital goods climb the fan leaderboard for that sportscastr, earning notoriety and garnering attention for their own streams.

PAY-PER-VIEW AND SUBSCRIPTIONS

Viewers will be able to use FanChain tokens to unlock pay-per-view (“PPV”) streams and other paywalled content. This premium content may include live sporting events, private chats, behind the scenes footage, or select user-generated-content that is not publicly available.

FANPAY

Apps, websites, media publishers and other entities will be able to easily accept FanChain tokens for goods, services and access by integrating a FanChain token payment gateway called “FanPay”. The software-plugin will allow third-parties to easily offer discounts or offers to holders of specific team tokens, both online and on-location.

FANEXCHANGE

SportsCastr plans to develop a web-based trading exchange where users may exchange the stamped FanChain tokens of one team for FanChain tokens stamped with a different team. This will allow users to build a collection of stamped FanChain for their favorite teams while reducing tokens stamped with teams they have less allegiance to.

FANWALLET

A wallet for web and mobile devices will be developed that will provide a visual breakdown of FanChain tokens by team, the ability for users to select and send team specific tokens, the ability for users to send specific stamped FanChain tokens to other users and to see and consume offers available to those who hold specifically stamped tokens.

INTEGRATED SPORTSCASTR

All users of the SportsCastr platform will be exposed to an easy-to-use, highly-secure integrated FanWallet. The wallet will allow users to send and receive FanChain tokens, convert FanChain tokens to Tix, and track their in-app earnings and purchases… all from within a single app.

How It Works?

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, 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, league 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

The Fanchain Token

The FanChain Token is based on the ERC20 standard, but adopts the ERC721 style feature when distributed or received from the FanChain ecosystem (including a wallet that adds support for DApp).

Like the concept of "color coins", FanChain tokens are symbolic combinations that can be converted into non-changeable tokens. Although the FanChain tag is fully compatible with ERC20, this tag can store additional address information when applied to the ERC20 specification. This additional metadata contains details about team balances, leagues, or event symbols.

The FanChain view is not compatible with the ERC20 monitoring management transfer portfolio or is concerned about additional metadata ("mark"), but additional data stamp can be displayed on any system associated with FanChain rituals for each symbol (for example, data for teams or leagues).

Unlike token levels, as in the case of ERC721, the ability to store metadata printed at the address level increases. This includes:

Low Gas Price: Transfer between addresses requires transaction transactions but can be done with simple and inexpensive group operations (even if a particular event, league or character team is transferred). Using DApp FanChain significantly reduces gas consumption. As a result, transactions consume slightly more gas than large ERC20 operations (especially when compared to ERC721).

THE SPORTSCASTR PLATFORM

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, and 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.

TOKEN DETAILS

TOKEN NAME: FanChain

TICKER: FANCY

TOKEN TYPE: ERC20 with ERC721-style characteristics

PAYMENT RECEIVED: ETH

MAXIMUM TOKEN SOLD IN ICO: 330MM

MAXIMUM TOKENS MINTED: 600MM

TOKEN DISTRIBUTION: TBD

DECIMAL: 4

TOKEN LOCK-UP DATE: TBD

TOKEN ALLOCATION & DISTRIBUTION

MAXIMUM TOKEN SOLD TO PUBLIC: 330 MM (Including personal and pre-sales)

CGP: 60MM Distributed Over 3 Years

PIP: 60MM Distributed Over 3 Years

BOUNTY: 18MM Distributed Over 3 Years

BACKUP COMPANY: 120MM (Including founders, teams, advisors, and future employees)

BUFFER: 12MM

Token Distribution

WHY YOU SHOULD CHOOSE FANCHAIN?

FASTEST LIVE-VIDEO PLATFORM

The ultra-fast delivery from SportsCastr makes it the lowest-latency live-video platform out there *, resulting in an ideal second-screen experience while watching games at home or from the bench.

DIRECT SCORES, NO STUDIO IS REQUIRED

SportsCastr offers real-time game scoreboards from NFL, NBA, NHL, MLB, CFB, CBB, and even EPL and WNBA.

LIKE LIKE PRO

All elements in SportsCastr can be clicked and interactive, allowing viewers to engage with you and your broadcast in unprecedented ways.

ANY DEVICE, ANYWHERE

When you're ready to stream, just download the app or run it directly on your laptop or desktop computer.

MAKE YOUR OWN LINE CODE

SportsCastr will instantly send you a notification that lets you watch with one swipe. Can not watch live stream? Visit channel announcers anytime to pursue an action.

EXPERIENCE THE GAME TOGETHER

Regardless of where you are, you no longer have to be in the same room to enjoy the game with fans like you.

ROADMAP