The Ambitious Projects Enabled by Initial Coin Offerings.
The number of ICOs is increasing in recent times and the advent of new heavyweight and successful cryptocoins like the recent strike of Ethereum, people see a great opportunity in these kinds of crowdfunding to have their projects started and a whole new ecosystem created with the help of others.
Long story in short, Initial Coin Offering uses already established mechanisms of cryptocoins, like Bitcoin itself, or Ethereum, to release a brand new cryptocoin system. By creating its own currency as a named token, which is pre-mined, part of it is distributed to the backers of the project so they can circulate after it is officially released.
Stars Group ICO
The company Stars Group Limited, (don’t mistake it by The Stars Group Inc., owner of huge strikes like Poker Stars) are right now on the release of this new project called “Stars”, where they’re already putting on practice as a sports franchise-backed token on the Ethereum blockchain, issued by Stars Group Ltd., an ownership conglomerate of professional soccer clubs.
Developed by IronBay Digital, the idea is to put all the transactions of a professional soccer club, like merchandise sales, tickets, live-stream game broadcast and even inner-group player transfer inside a single platform with its own currency. It dares to say on their website, that they plan to disrupt the sports industry, on quote. Gathering all the benefits of the fluidity of a single currency, and most importantly, not attached to country regulations, expanding their market worldwide with stakeholders.
So, How Exactly They Are Planning This? A Big Plan, for Sure
The project is currently on its initial stage, they have tokens right now on pre-sale with public sale following next month. It fully consists of three phases that will last until August 2019, according to their calendar.
It seems very tempting and promising as well, going as planned; this represents a huge step, as they exhibit the billions that are circulating right now on the Soccer Industry. They example championships like UEFA, and their intent to bring a huge part of these transactions under the facilities promised by their system, getting attractive vantages to their consumers, like facilitation on transactions, low fees, increased security, and as well the intent to build a global community. Everything seems very attractive.
The end of the first phase, which goes until May 2018, concludes with the ambitious purchase of an entire soccer club, not saying which one, going all the way to first implementing their “base” system starting with a food and beverage marketplace, selling tickets and such. By the end of their third phase, the ambition is even bigger, negotiating with over ten more soccer clubs to join the Stars Group platform.
Quite Megalomaniac, I’d Say. But It Has Its Public
Like any kickstarter project, depends on marketing and more importantly the backup of the community, in this case, the very united and passionate soccer community.
They promise to bring a solid platform, it depends the imminent success of each phase to the other one succeed, but when the talk is the purchase of a soccer club, that they don’t specify which or their intents, we’re talking about a tremendous amount of money, even if it is a smaller one.
Back the Stars Group and help them create this goal of a conglomerate of soccer teams. They’re available at starsgroup.io, right now on pre-sale.