Sportcash One is an offspring of another blockchain project - Surfcash, which was geared specifically towards surfing and other extreme sports. Sufrcash was designed as a social platform, the main purpose of which was bridging the gap between athletes, as well as surfer schools, and commercial brands. After the initial project enjoyed moderate success, and the arrival of Jarno Hogeweg, who had previously been one of the key members of the Waves blockchain platform, the team made the decision to rebrand Surfcash to encompass the larger scope of the sports industry.
The new platform had been built on the Waves blockchain which is known to possess certain advantages over other blockchains, for instance, it allows users to easily create the custom application tokens (CATs), like $SCOne, the platform’s utility token.
The official whitepaper states that the price of $SCOne would never fall below the established benchmark value, which is currently estimated at 1 euro. However, this value will remain in direct correlation with the inflation indexes in Brazil, which has been around 5% in the past couple of years. This brings to the point that Sportcash One is registered as a legal entity in Brazil, which is a rather odd choice of jurisdiction, given that this country doesn’t have clear regulations with regard to the issuance of utility tokens, and even a customary public offering is often met by numerous bureaucratic obstacles.
Sportcash One was developed as a blockchain-based social media platform which amateur athletes and fledgling organizations from different areas of sport can use for self-promotion, acquisition of sponsors, and crowdfunding.
The user experience should be similar to the usual social networking services: the newly registered members will have to create personal profiles and upload the content to raise awareness about their achievements in sports. Those who manage to stand out from the crowd should receive substantial donations from the users that form their fan base.
Apart from that, every member of the Sporcash One network is entitled to rewards for meaningful activity on the platform, such as posting the attention-grabbing written or video content, interacting, etc. The rewards are allocated in the form of Diamond points which can be donated to the favorite athletes and charities or converted to $SCOne tokens via the intra-platform decentralized exchange that also provides for cryptocurrency swaps. All funds are to be stored in the Waves digital wallet. The pre-estimated value of one Diamond point is 0.001 SCOne tokens.
Sportcash One issues a digital magazine, giving aspiring sports writers a chance to earn crypto by covering interesting events and promising talents. Sportcash One also enables the advertisers to effectively promote their products by providing the instruments for precise audience targeting.
In addition, the Sportcash One platform includes the Multi-Vendor Sports Shop, an online marketplace for sports merchandise streamlined by the use of $SCOne and other cryptocurrencies.
Sportcash One is currently holding the private sale of $SCOne tokens that will last until the project reaches the financial goal of 1.875 euro. It’s followed by the pre-ICO sale that will close no later than June 1. The ICO of Sportcash One will begin upon the completion of these two stages and will run till July 1.
At the moment, $SCOne tokens are being sold at a 25% discount - 0.75 euro per token. The ICO price of the token may change, depending on the situation on the crypto market. The project features both bounty and airdrop programs. Sportcash One didn’t impose any limitations on the interested investors.
|Start||June 1, 2019|
|End||August 1, 2019|
|Hard cap||$5 005 000|
|Minimum investment||100 EUR|
|Tokens for sale||5900000|
|Accepting||BTC, WAVES, USD, EUR|
I understand how the fledgling athletes and gamers might benefit from being active users of Sportscash One, though I don’t see any benefit for me, a pragmatic investor. Certainly, it is great fun to watch people do crazy stuff on snowboards and such, but the project doesn’t provide the answers to the question, “How can I profit from that?” As if the sports industry is not commercialized enough, with big brands like Red Bull throwing millions of dollars at teenagers who just know how to ride the skateboard. Sorry, sports people, but I think that you have already been overfed with money, so trying to get some more through Sportcash One is a bit impudent.
There is no denying the fact that Sportcash One has an amazing concept and a very thoughtful approach towards its realization. What’s left now, is to roll out a loud marketing campaign that would make this team known all over the world. I think that presently, they are lagging behind on that issue since their social media presence is a bit sub-par. That is not the way how a fledgling social media platform should promote itself. But other than that, Sportcash One is quite an exciting project.
This is so cool that we will finally have a social media for people who love sports. I don't know if there are any similar ones out there, but I am really excited about Sportcash One. My friends and I are doing extreme biking and we really needed a platform like this to put out skills on display and earn some crypto along the way. Who knows, maybe one day, some big shot company will notice our team and we’ll get to the Red Bull Rampage.
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