Dec 1st 2021 23:49
BitAstir, Sports, & the Blockchain
Hello athletes, fans & sports organization of the pre-blockchain era!
Hello crypto investors, traders & non-believers!
BitAstir, the worlds first DaSO (Decentralized Autonomous SPORTS Organization) on a mission to turn athletes into assets is here!
Wanted to say hello, introducing ourselves & having a BITA-fun.
As you might (or might not) already know, blockchain provides a foundation to build a new, open, paradigm of trust for society. This paradigm has radically reshaped how the world looks & interacts with data. Nearly every industry has been impacted by this phenomenon; finance, medical, supply-chain, Artificial Intelligence, and even government has adopted it as an inevitable part of their development plans.
Not only did this paradigm flooded cyberspace with trillions of dollars, it flooded cyberspace with an entirely new category of users. Users arrived looking for economic sovereignty, transformative wealth, & novel technologies. Basing this assumption off of the 12 years of crypto history already behind us, those users made fantastic, life changing-decisions. Finding these “lucky” users doesn’t require turning back time to January 3 2009 (the first official operational date for the bitcoin network); we can simply look back the last 365 days & find that NFT’s have given rise to a new class of social wealth.
Rather than sitting & trying to dissect each cases nuances in search of plans for wealth generation; BitAstir plunged into frantic research. After analyzing years of data on price actions & the everchanging mass-psychological predisposition to digital assets, amassing opinions from hundreds of crypto participants, & enjoying the spoils of this bull-market a little; BitAstir discovered that one industry was underappreciated; neigh we say nearly untouched, through this revolution…
What has an estimated value north of $620 Billion & is severely lacking the technological development of the modern megalodon industries? Sports.
Legacy sports faces a multitude of setbacks around managing data, intellectual property rights, and scalability. It utilizes business models that squeeze the finances of the audience & rewards them with no ownership. It leverages the its dominant position to confine its athletes with contracts that denounce their sovereignty of image. It suffers from one of the highest rate of fraud in ticketing. The darn thing has no proper open data structures for the athleticism & performance data (non-medical, non-PII). Sport needs Blockchain.
- Increases fan loyalty & engagement through novel incentive structures.
- Improve Athlete sovereignty as an agent.
- Remove centralized data silos.
- Increase operational efficiency (minimize the need for 3rd parties).
- Remove fraud/counterfeit ticketing.
Initially, the sports market was first exposed to cryptocurrencies through traditional media platforms, including the likes of (UFC) Ultimate Fighting Championship and ESPN as early as 2018! Numerous organizations began to consider a tokenized future after watching early movers, such as football club Arsenal, announce their blockchain partnerships publicly. Then, as the market turned down so did this attention.
Over the last, roughly 6 months, the integration of blockchain into sport has begun to materialize itself once again & this time more concretely. The Dallas Mavericks NBA team partnered with the FLOW blockchain to create a custom line of NFT’s called “NBA TopShots”. The concept here being possession of In-game moments. “Valuable” pictures & videos that happened during the game were handpicked, dusted & uploaded to a blockchain. This use case, however exciting it was at the time, is limited in scope. (FOCUS: visual/entertainment)
A true application of blockchain to an industry must empower ALL participants across different angles. A true application would look to tokenize the most VALUABLE aspect of a sport. What we are eluding to here are a new phenomenon being pioneered by fan engagement platform Socios powered by the Chiliz ($CHZ) cryptocurrency. Fan engagement tokens have been one of the most exemplary innovations that have excogitated the combination of sports and blockchain technology. Due to the nature of their value derivation, Fan tokens are also referred to as social tokens. Social tokens have been referred to as its own entirely new grade of digital assets that represent vested interest in NON-financial products. $PSG and $JUV are two prime examples of the fan tokens. Representing two world renown soccer clubs (Paris-Saint-Germain & Juventus); the tokens are owned by the fans & are used to excerpt a certain degree of rights over the according teams. (FOCUS: teams/leagues)
Finally, we have the case & point with the fastest growing niche within the sports category; Fantasy Sports. Perhaps one of our favorite applications as it is the most direct avenue to create a market on. Fantasy sport applications satisfy the economic demands of different industry participants. Sorare has been the only premiere project to come out tokenizing athletes for use in fantasy sport, namely Soccer. (FOCUS: athletes/gaming)
The space is primed & full of opportunity, it is up to us to identify & capture it. Just to put things in perspective; this $620 billion gorilla of an industry has an on-chain market footprint of sub $2.8b in an (approaching) 2 trillion dollar industry.
BitAstir has positioned itself to become the leading sport organization & international sports authority with a strong focus on the industries most important actors, the Athletes.
BitAstir will turn athletes into assets.
BitAstir will provide infrastructure for athletes to manage their careers.
BitAstir will broker, promote & protect the images/reputations of its athletes.
BitAstir will open capital markets & become the index of the sport industry.
BitAstir is a decentralized sports organization that operates from its metaverse headquarters known as the “MasterSport Colosseum”. The organization provides infrastructure for the sustenance of the sport industry without regulatory intervention or legacy hierarchy biases. The organization is composed of & operated by a network of athletes for the benefit of athletes.