Many fans would probably enjoy the idea of owning a piece of their favorite clubs and have a right to a piece of the future earnings of their favorite players, but few options exist and those that have attempted to breakthrough in the space have attracted initial attention only to later become an afterthought. Additionally, athletes often look to borrow money against future earnings at terribly high-interest rates, putting them in a position where it can sometimes be difficult to pay back the principal plus interest or disadvantageous to do so.
Based on the aforesaid, a new company called Globatalent has emerged, which wants to provide a type of service that enhances sports fan interaction with clubs and players with an economic interest involved and based on the blockchain. It seeks to connect clubs and players to fans by selling future revenue rights to fans around the world but appears to do so without trying to sell the interest as securities, by way of using the blockchain, smart contracts, and cryptocurrencies.
Hypothetically, a player can offer the advance sale of 20% of his future income rights for $250,000. Globatalent would tokenize that 20% interest into 25,000 tokens, each token possessing a value of $10. Those tokens can then be bought and sold on Globatalent's secondary market, and whenever a player receives monies, the token owner is entitled to a percentage of profits.
Globatalent advertises prominent sports personality supporters such as FC Barcelona's Luis Suarez, NBA veteran Maurice Evans, Spanish football star Marc Bartra, World chess champion Anna Muzychuck as well as other high profile sporting stars. They have also been signed as the 'Talent Sponsor' for the Mediterranean Ladies Open, which is a major international ladies golf tournament and they have made themselves available to the esports market by bringing in a prominent advisor to help in this sector.
One of the company's main objectives is also to help bring financial support to female athletes who are often not as well represented in the media as male athletes.
The project has been developed by the co-founding team for the last 18 months. The founders have a strong background within the sports industry and the blockchain/finance sector. Their backgrounds include a former FC Barcelona basketball player and Olympian, a former General Manager of several top basketball clubs within Europe and a blockchain expert who has written books on the blockchain eco-system. Globatalent has already developed its MVP and the platform is projected to be available to all in the coming months.