TokenStars is a decentralized talent management agency that tokenizes tennis celebrities, football celebrities, and poker celebrities. Find out how TokenStars works today in our review.
What Is TokenStars?
TokenStars is a decentralized talent management agency that uses a digital currency to tokenize professionals. What does that mean? Basically, you invest in a young professional tennis player, footballer, or poker player today, then earn money from that professional in the future once they become famous.
So far, TokenStars has announced plans to tokenize tennis stars, football (soccer) players, and poker celebrities. In the future, the company plans to expand to hockey and basketball by Stage II. By Stage III, they hope to add supermodels, movie actors, and musicians to their agency.
Basically, TokenStars plans to disrupt the talent management industry using a decentralized autonomous organization (DAO) model. In this model, scouting is decentralized, analysis is decentralized, and investment decisions are decentralized. TokenStars invests in 14 to 16 year old athletes today with the expectation that they’ll become famous in the future.
How Does TokenStars Work?
Basically, TokenStars is a way to invest in young players before they get big. You can support a player financially today with the hopes that they’ll “make it big” in the future. Once that player becomes a celebrity, you can earn a cut of their prize money and sponsorships.
Obviously, TokenStars is a unique concept. As evidence that it can work, they point to examples like Iranian tennis player Mansour Bahrami, who played tennis with a frying pan until the age of ten because he could not afford a racquet. He trained at night in an empty swimming pool because he could not pay for lessons in a tennis court. Bahrami would go on to become a finalist in the Roland Garros Grand Slam Tournament.
Then, TokenStars points to examples like Maria Sharapova, the tennis star who has earned $36.5 million in prize money and $285 million in sponsorship deals to date, or Serena Williams, who recently signed a $55 million deal with Nike.
In the football world, there are also examples like Jamie Vardy, the striker for Leicester City who, just a few years ago, was famously making £30 a week in the eighth tier of English football. Today, he’s a Premier League leading goal scorer who just received a bid of £22 million from Arsenal after guiding Leicester City to their improbable championship.
By investing in tokenized athletes today, you can earn a cut of any money they earn in the future. Just like you want to jump on a rising stock before the market pays attention, TokenStars lets you jump on a rising tennis star, poker star, or football player.
As TokenStars explains, these professionals have the potential to earn millions once they “make it big”. They earn money through tournament prizes, sponsorship contracts, general advertising deals, appearance fees, name and image licensing, and exhibition fees.
TokenStars has three different programs available, including:
- Ace (for tennis players)
- Goal (for soccer players)
- Chip (for poker players).
With each program, you’re investing in a young professional today. You give that growing star the funding and promotional resources they need at a critical junior age, reducing their chances of dropping out of the sport. This significantly raises their chances of success.
With TokenStars Ace program, for example, you’re investing in tennis stars between the ages of 14 and 16. You support a promising 14 to 16 year old player financially, and they use the money for training academies, promotions, coaches, etc. Eventually, if you picked the right player, that player will earn prize money, celebrity status, and huge sponsorship deals. The value of their “token” will increase.
With Goal, you’re also supporting 14 to 16 year old football players. The Goal and Ace pages on TokenStars.com are described in detail, although there’s limited information about the Chip poker celebrity tokenization program.
How To Spot Talent With TokenStars
You’re probably not a professional soccer scout or tennis coach. How do you spot the next Cristiano Ronaldo or Roger Federer?
This is where TokenStars receives help from its token holders. TokenStars decentralized the talent sourcing process using its Global Scouts Network. The platform also decentralizes the talent promotion process with its Global Promoters Network.
That means token holders have three distinct roles. Their roles include:
Scouts have the goal of finding hidden talent, assessing players, and helping to sign contracts.
Promoters have the goal of building an athlete’s fan base in social networks, helping with media and PR coverage, and attracting sponsors.
All token holders are analysts, by default. Analysts have the responsibility of voting on player selection and choosing contract renewals. They also vote on which promoter to choose, and who’s in charge of scouting. Analysts can also submit proposals to the operational team.
Ultimately, the TokenStars DAO is designed to incentivize professionals who will to play roles as scouts and promoters. Former coaches or professional athletes may choose to join TokenStars as scouts, for example, and advertise their qualifications to receive votes. Or, media and PR professionals can announce their qualifications in an effort to become TokenStars promoters.
TokenStars is led by CEO and investment professional Pavel Stukolov, Scouting Analyst Anton Vdovin, Coaching & Scouting Advisor Sergey Demekhine, and Investor/Serial Entrepreneur Elena Masolova.
In terms of qualifications, Stukolov is a merger and acquisitions specialist who is also the Strategy Director for Media Business at JSFC Sistema, which has a total asset valuation of $95 million. Pavel has also closed over $250 million worth of deals in venture investment, M&A, and debt fundraising.
Demekhine, on the other hand, is a tennis coach with 8 years of experience. He served as retired ATP tennis player Vera Zvonareva’s head coach in 2010 to 2011.
Masolova, meanwhile, has had three exits as an entrepreneur. She led Groupon Russia from 0 to $15M in monthly revenue in 450 days, and also led Pixonic, Eduson, and AddVenture Fund. She was named among the top 30 internet entrepreneurs by Forbes.
You can contact the developers by email at [email protected]
In terms of development strategy, TokenStars will expand its talent management across multiple sports and industries over the coming months and years. They’re launching with tennis management (August 24) and football management (August 31), with poker arriving in September 2017. Stage II of the company’s operation will seek to add basketball and hockey, while in the future (Stage III), the company plans to add movie actors, music bands, and models.
TokenStars is a decentralized talent management agency that tokenizes athletes. It turns athletes into digital assets that will be managed by a decentralized autonomous organization (DAO). Participants can invest in 14 to 16 year old athletes today, then reap the rewards when that athlete achieves celebrity status, signs sponsorship deals, and achieves other recognition.
Ultimately, TokenStars is one of the most unique concepts we’ve seen come out of blockchain technology and asset digitization. To start, the company is focusing on tennis and football. In the future, however, the company plans to focus on poker, basketball, and hockey, before potentially moving onto movie actors, bands, and models.
Ultimately, TokenStars has the potential to become a full-cycle talent management agency using decentralized scouting and decentralized promotion processes. You can learn more about the unique concept online today at TokenStars.com