Crowdfunding Crypto Platform For Sport Launched

A new cryptocurrency investment platform, SportyCo, has been launched to allow long-term investment into athletes, clubs and sports organisations to support their growth and development.

In return for the investments, backers can receive a share of the respective athlete or team’s future income.

SportyCo aims to be the first platform of its kind to combine cryptocurrency and crowdfunding in sport.

Each crowdfunding campaign on the SportyCo platform is listed in SPF Tokens, the fully ERC20 compatible cryptocurrency which is already available on several crypto exchanges.

Founder & CEO Marko Filej said: “At SportyCo, we believe that every promising athlete deserves the opportunity to pursue their career and every small investor should be able to invest in sports.

“Unfortunately, professional sport today has a high entry barrier – both for athletes and small investors. “Up-and-coming athletes at the outset of their professional careers face a lot of issues when it comes to funding their training and participation in events across the globe. The same goes for many sports clubs and other organisations which face severe financial challenges. “So far, investing in sport has been a privilege of large corporations and connected individuals who were able to help athletes while collecting profits from their investments. But SportyCo is changing this. We are incredibly excited to be able to decentralise investment in sports and open up opportunities to fans and consumers.”

After a month of Beta testing, SportyCo will now carry campaigns worthy of investment as well as a wide reach of users to popularise the platform in order to attract sports fans and backers.

The first campaign on the platform is by KD Slovan, a Slovenian basketball team with a reputation for developing some of the country’s finest players, including Goran Dragić (Miami Heat and 2018 NBA All Star) and Rašo Nesterovič (NBA champion with San Antonio Spurs). The club is seeking investment for expanding their academy activities and will give investors a return from all player sales in the next five years.

Over the coming weeks, several more campaigns will be launched on the platform across a variety of different sports.