According to Newzoo, the global leader in eSports, games, and mobile intelligence, the eSports economy was worth $696 million in 2017, a dramatic increase from $71.5 million in 2013. Growing demand for online streaming media platforms, particularly Amazon’s Twitch.tv, has become central to the expansion and promotion of eSports competitions, and their prize pools respectively. Newzoo estimates a $1.5 billion market by 2020 with China, South Korea, and North America pulling the major strings, investing more than half of the funds in promotion, marketing, advertising, and sponsorships. FCFL is a brand new platform that aims to integrate blockchain with traditional sports.
There was a time when Valve’s Counter Stike had a $1 million prize for the winning team, while nowadays eSports like Dota2 and League of Legends distribute more than $100 million to the annual championship winners.
In a technologically advanced market dominated by Millennials, traditional sports lose audience yearly while eSports become more relevant. FCFL aims to capitalize on this transition.
FCFL, a U.S. based startup, has developed a platform that give fans control of key team decisions. In early 2017 the first fan-controlled professional sports team, the ‘Salt Lake Screaming Eagles’, came into life. They tested the platform in a small ten-team indoor league attracting thousands of fans from more than 100 countries, generating media coverage from top-shelf publications like the Wall Street Journal and the New York Times, and establishing partnerships with Sports Illustrated and Amazon’s streaming service Twitch.
In order to transition the literal management of professional sports teams from the traditional ownership model to a fan-centric ownership model, FCFL has created a unique utility token that will drive all decision-making and engagement for active fans of the league. FAN token, an ERC20-compatible smart token, will be the unit of power through which all interactivity is derived. Each fan’s level of control will be directly proportional to their ownership of FAN tokens, and the skill and frequency with which they engage with the FCFL will add to their collection of tokens.
While FAN tokens will be the literal measure of influence to a fan’s voting power, whether it be for calling a play or selecting a new quarterback, they will carry utility indirectly tied to league operations as well. FAN tokens will enable fans to unlock tiers of access to content, voting rights, exclusive experiences with the league and its sponsors, merchandise, and, of course, the potential for a greater piece of the championship purse. In addition to purchasing FAN tokens in the token sale, fans will be able to earn FAN tokens through a variety of reward-based programs designed to enhance fan involvement and engagement with the FCFL.
As for the total supply, it is yet unknown, but Dan Amazeed, admin of the FCFL Telegram Group, stated that an official announcement regarding the matter will be made soon by the company.
Reading the whitepaper, we came across the planned distribution of the token which will look like this: 50% of the max token supply reflects the token sale participants, 20% goes to the founders, developers, advisors, and employees of the company, while 30% will be split in half for marketing campaigns (15%) and strategic partnerships (15%).
Sohrob Farudi, Co-founder & CEO, is an accomplished international C-level executive and venture-backed entrepreneur. He’s held the CEO role at multiple startups, spent two years overseas working in Europe, raised more than $20 million dollars in angel and venture financing, and served as an investor and advisor to numerous companies over the last decade. He has spoken at events including SXSW, Hashtag Sports, MIT Sloan Sports & Analytics Conference, and Block-Con. He is currently the CEO of the FCFL, responsible for strategic direction, partnerships, and financing.
Grant Cohen, Co-founder & VP Digital, is a mobile app content and marketing industry veteran. He is a co-founder of Fanchise and currently the Head of Digital for the soon-to-launch FCFL. Most recently, he was on the Executive Team at Kochava, the leading mobile app, and game analytics provider, where he served as the GM of the Kochava Collective, which is the largest independent mobile data marketplace in the world.
Patrick Dees, Co-founder & VP Gaming, is a serial entrepreneur and dynamic executive who has been involved with myriad successful startups over his career.
Vivek Jain, Co-founder & CFO, graduated from the University of Regina in 1999 with a Bachelor of Business Administration and proceeded to earn his Chartered Accountancy designation in 2002.
Ray Austin, Co-founder & VP Football Ops, has been a staple of the sports and entertainment world for the last 15 years. After a successful five-year career in the NFL where he played for the Jets and Bears, Ray has transitioned to a career as an entrepreneur, actor, and model. Ray has been featured in over 100 commercials with such big-name clients as Coors, Ford, Listerine, and McDonald’s. He has also been in more than two dozen print ads, including K-Mart, Coca-Cola, and Bank of America.
The list goes on but we’re convinced already that this is a serious and well-developed business project by veterans around the fields involved.
FCFL is one of the first companies attempting to disrupt the traditional sports scene with advanced blockchain based technologies, therefore they will claim the upper hand in ‘early game’ with ease.
A professional team of sports experts and tech specialists could literally create a totally new market. It is the point where eSports and traditional sports meet.
However, one concern we have is the unwillingness to share the total token supply at the outset. That being said, we should at least let them take the time to explain when the pre-sale comes to a conclusion.
From an investors perspective, you should pay attention to the following facts:
- The company has not announced any markets that will be listing their FAN token so far. We cannot be sure that they will attempt implementing the token into exchange markets since it could be used only as an inside currency regarding the football league and only. -3
- An unknown total supply of tokens is never a good way to start building trust between your investors and fans. -3
- Integrating blockchain technology into the sports dimension is a unique move that will attract millions of fans and players to discover this new technology. +4
- FCFL is backed by Bancor, among others, promising near certainty that the token will be listed on global exchanges. +3
- Fans will be using the token very frequently since most of the actions the platform offers will be paid for with FAN, from small cheering options to voting and player and coaches exchange. +2
- The FCFL may disrupt the traditional sports industry in a way that more football teams or even various other sports may join the ‘train’. +2
No speculative numbers can be issued at that time due to the lack of information from the side of the company.
FCFL may have NFL connections on the board and be the first company to lead the sports industry into the blockchain era, but there are organizations and foundations like FIFA, UEFA, NBA, Champions League and even the Olympic Games that can offer serious competition if they deem blockchain to be a valuable asset.
A score of 5 out of 10 is reserved for the FCFL (Fan Controlled Football League), based on present facts.
- Type: Crowdsale
- Symbol: FAN
- Pre-Sale: Concluded
- Public Sale: N/A (will be announced on Monday, Jan 22th according to their Telegram Group)
- Payments Accepted: ETH