Hey guys!
Would like to get your advice on a start-up idea that came to my mind. Bear with me okay.
As you probably know, fan & team interaction has been a hot topic in the recent years. Most Major (and popular) clubs are privately owned and have a membership structure to give us a sense of belonging, participation, and ownership. Thing is at times it's a diminishing returns situation when a club scales up and voices/belongingness becomes an echo.
A pretty interesting model that's alternative I've been poking at are cases of fan-owned clubs like Barcelona, PSG, RealMadrid and a few others.
I'm not sure what innovations are currently in store for better rewarding fans and giving them more opportunities to feel part of the team, but it appears most are via social media and media outlets that host opportunities to be in touch with the Team or host giveaways etc. etc.
Therefore, me and my friend came up with idea.
We want to create a Platform (an app), where it will be possible to buy “Fan Tokens” of say football club X and exchange it for certain benefits which the club allocates, for example voting for new uniform colours or emblems, leagues, rally cry, maybe (this is a bit crazy but) stadium matters like foods/snacks/merchandise. A more direct benefit would be VIP membership per-se.
We would partner with local football clubs, starting small and particularly existing fan-owned clubs, provide them with this system and all that will be needed from clubs themselves - and they determine the democratization/governance of their Voting Parameters (or simply, what fans can and can't vote on).
We will sort out the platform everything else ourselves.
What do the clubs gain? - Instant Liquidity. Take this as a Token Offering in a sense, they'd raise the capital through a primary offering (we have offshore options for establishment), cap the amount of Tokens an individual or interested corporations can purchase initially to prevent monopolization.
We'll establish a secondary market where people can trade tokens at an open price auction. Since clubs have governance over the parameters on the voting mechanism, they could place a limit on votes that are cast on a decision they want to exercise to avoid manipulation upon establishing their Fan Token system.
What do the fans gain? - A stake in decisions for the club, direct fan interaction on our platform, price appreciation and rarity, exclusivity, an ownership for a club they believe in
This would better be on a Blockchain since everything would be transparent on any cheeky behavior over a monopoly buyout or malicious actor. There needs to be an audit-system. This could be possible because we have several software developers in UI/UX, 2 of which specialize in systems architecture and work on Solidity and another in DB & Networks contracted for work on prediction markets. I have a stake in it but realize that this is still an early area to gain traction and interest. Football isn't. Not to mention it's a massive industry to integrate better democracy in favour of both fans and the clubs
To sum up: This app will allow fans to vote on club matters and receive other benefits and will let clubs to monetize fans’ engagement. Win-Win
We're in touch with an Angel Investor and potential VC networks as my friends' family members are working in major tech giants in the Valley. But honestly we're early in the drawing board.
What do you think about our idea? Is this feasible? We'd like to gather feedback from fans themselves. Do you think this would be interesting for Football, possibly other Sports Verticals?
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