PowerAgent POWA: Blockchain Based Sports Contract Tokens?
PowerAgent POWA is creating a smart contract ecosystem that will run on a private blockchain. It aims to make it possible for sports professionals to create and manage contracts without legal, technical or operational complications.
What is PowerAgent POWA?
PowerAgent is a platform created for professional athletes, sports clubs, and sports managers. It makes it possible to create, manage, track and protect contracts or other transactions between athletes and clubs. It works decentralized and includes a smart contract that links all involved parties (the club/franchise, banks, sporting associations, sports agents and athletes) together and registers the complete contract process.
PowerAgent is building on a private permissioned blockchain and provides an easy to use digital platform with smart contract templates. The site has an on-site payment integration that can use cryptocurrencies or fiat payments.
When using PowerAgent, the athletes and their managers are able to directly work and negotiate with the club/franchise etc., using the smart contract templates. The information saved blockchain will ensure that agreements in the contract are met, and athletes can automatically get paid through the platform.
How Does PowerAgent Work?
The site will offer a variety of smart contract templates which are suitable for many sports industries including Basketball, Boxing, Football and many more. When setting up a contract, clubs or sports managers can set certain parameters and contract terms and can assign a wallet for that contract.
Clubs and athletes will have to register on PowerAgent and will receive a digital profile. Profiles need to be verified KYC process by PowerAgent partner companies such as banks and sporting associations. Verified profiles will be proof that e.i. clubs are entitled to do business.
PowerAgent POWA Token and ICO Details
A crowdsale helps new companies to acquire investments that can be used to finalize the development of the project. PowerAgents crowdsale not only aims for that, but the company also wants to market itself with more sporting industries such as Football, Basketball, Boxing, Cricket, Ice Hockey and many more. The token is called POWA.
There will be a total supply of 51,000,000 POWA tokens, no more tokens will be generated.
During Pre-sale and TGE, PowerAgent will be issuing 77% of the total supply of POWA tokens. Tokens that are sold during the pre-sale period, will be available at a discount of 20%.
During the public crowdsale, the remainder of POWA tokens starts at $1 USD. The sale is capped at $39 million USD.
PowerAgent POWA Token Details
- Token: POWA (ERC20)
- Platform: Ethereum
- Timeframe: 1st Feb – 31st March
- Total Supply: 51M POWA
- Hard cap: $39M
- Soft cap: $3.9M
PowerAgent POWA Verdict
The goal for PowerAgent and the concept seem very interesting for the sports industry. The site, however, seems unfinished, the white paper is not available. Let's see how the companies crowdsale and further platform development goes.