Upgrading the SportyCo platform to make investing into athletes easier
We have given you a timeline of activities for the next couple of months – our developers are and will be very busy, as you can see. Let’s see how these upgrades will be seen by a non-crypto-savvy user, who wants to start investing into athletes and clubs.
We have previously discussed the problems we encountered with the first version of the SportyCo platform – namely that most SPF Token holders are not interested at all in the platform, just in the token value on exchanges. We therefore have to make it easier for people not holding SPFs to invest into athletes. How?
Firstly, we will enable users to hold funds in a wallet on our platform. Each registered user that has successfully completed the KYC process will be able to deposit funds into the wallet on the platform. The wallet will support both SPF and ETH.
We will integrate an external payment provider enabling you to buy SPFs directly on the platform – with credit cards. These purchases will deposit SPFs directly into your wallet on the platform. We will also work on making the user flow as straightforward as possible – like giving the option to buy SPFs and investing them into athletes in one go – perfect for the ones willing to support athletes and clubs, but not knowing what a wallet or address is yet. We’ll also work on educating our less knowledgeable users on how crypto works: our guides and how-tos during the ICO garnered a lot of praise (and several copy/pastes by other projects).
We will enable ETH investments into athletes. The current total volume of SPFs is too low to enable big campaigns, and while the ecosystem grows this will enable us to put some planned big campaigns on the platform without hitting the wall – and we need those to generate a buzz around SportyCo, as only small campaigns won’t do it. However, investing in SPFs will bring you a premium, so users wishing to maximise their portfolio value will still prefer to exchange ETH to SPF before contributing.
All returns from athletes and clubs to contributors will be in SPFs, no matter whether you invested with SPFs, ETHs or by purchasing tokens with a credit card and contributing. Returns will be deposited to each user’s wallet on the platform every three months. Users will be able to withdraw the SPFs to any ERC20 compatible wallet or to any exchanges which list SPF. Or, of course, they can immediately reinvest them into active campaigns.
These upgrades will enable us to spread the SPF community to a much wider audience and grow the SPF ecosystem. Wanna join in the discussion? Welcome to our Telegram channel. Our team there waiting to answer any questions you might have.