The libertarian abilities of the crypto-currencies became more skeptical. David Stern, who has led the world's largest and most important basketball league for 30 years, the NBA, which has come to call the "Tulipmania" crypto-coins market, in reference to the Tulip Mania, a known speculative bubble, is now involved with SportsCastr, a sports startup built in blockchain, with open ICO and which will issue, in ERC-20, the FanChain token.
"I STARTED TO UNDERSTAND THAT THE BLOCKCHAIN TECHNOLOGY HAD MUCH TO OFFER IN RELATION TO A SERIES OF TRANSACTIONS IN MANY DIFFERENT SECTORS, LIKE THE SPORTS INDUSTRY," SAID STERN TO FORBES.
FanChain is intended to allow users who are watching sporting events not only to select which comments they want to hear, but also to participate by providing their own comments on live sports. In this way, they will be rewarded with digital tokens that feed the FanChain ecosystem, which is comprised of a FanWallet, digital products, signatures and more. FanChain says that its platform aims to put the power of the game in the hands of the fans giving them also the chance to be rewarded for their knowledge and talented chance to share the value.
Stern is not FanChain's sole investor and the list of sponsors extends to some of his colleagues in the professional sports industry, including NFL player Vernon Davis, Syracuse University Head Coach Jim Boeheim, the former NBA star Steve Smith and others.
Source: https://www.complex.com