FanChain ICO Review
In today's world, there are not so many things that are not affected by universal digitization. Even ordinary household kettles can be turned on by connecting to them via Wi-Fi and pressing the appropriate button on the smartphone. The same applies to the sport. Every year the audience of traditional TV broadcasts falls, and the number of viewers of the same broadcasts in the Internet increases proportionally, and instead of broadcasters, people read the tweets of the fans as they are. In society, there is a demand for the opinion of its representatives, but not appointed experts. And if t here is a demand, there will be an offer. Just one of them, under the name of Fanchain, we will analyze in detail today.
First of all, let's look at the evaluation of the project by the most famous international rating agencies. We take 14 agencies into consideration and Fanchain was estimated by 6 agencies among them. Most indicators of the project received average estimations. However, there are agencies whose opinions are distinguished from the general opinion. They are worth paying attention to. Let's start with ICO Profile. ICObench, ICOholder and TrackICO have given 3.5/5, 3.74/5 and 9/14 points for it. The rating is certainly decent, but not outstanding. But ICOmarks experts estimated the same indicator at 8.1 points, which looks much better. The same can be said about the project promotion in social networks. ICOmarks and TrackICO believe that it is at a decent level and put 8/10 and 8/9 points, respectively. But ICOholder rated this indicator only in 2.11 points out of 5. Things are different with the team evaluation. The middle-level evaluation was given by ICOmarks (6 points out of 10), ICOholder-3.77 out of 5, TrackICO-2 points out of 4. And only ICO Token News evaluated the team at 4.2 points out of the maximum 5. Are the agencies that gave the low grades right, and the project is still worth refining in these areas, or only a few who have evaluated the project worthily, see its full potential? Let's try to understand it. And let's start with the product, of course.
First of all, we would like to note that it is not just formulated idea, hastily put in a white paper and hyped through social networks. No. Fanchain is a seamlessly continuation of SportsCastr, the startup launched at the end of 2016. It created the live video streaming application that lets anybody in the world choose the SportsCastr, or be the SportsCastr. At different times the application was successfully used by such media companies as the Shadow League and USA Today Sports Media Group. Now the SportsCastr team decided to continue the development of its product, creating a whole ecosystem, uniting the fan movement of the world. The Fanchain Ecosystem will consist of:
1) FanChain tokens;
We will not stop on each of the listed items, as they are all described in the white paper. We would like to note only, in our opinion, the most interesting point: after the user created the content for a specific team, he gets FanChain tokens containing metadata that are “stamped” with the team that the user created content for. In this case, you will not be able to spend your tokens to buy souvenirs, such as Chicago Bulls, if you have earned them for content creation for Utah Jazz. However, in the ecosystem there will still be the so-called fungible tokens which can be used within broad markets but limits their ability to have team-specific associations or to be harnessed within the sports ecosystem. In addition, fans will be able to exchange all non-fungible tokens at the FanExchange. In our opinion the idea seems rather interesting. Especially as there are a lot of fans in the world who are ready to create media content for their favorite teams for hours. Now let's look at the team of the project and try to understand whether it can cope with the task.
As mentioned above, Fanchain is created on the basis of already proven SportsCastr platform, which works since 2016. Therefore, the project managers have rather large experience in this field. Take at least Kevin April, CEO SportsCastr, he is in the sports business for more than 7 years, and in April 2016 he became the co-founder of SportBlog.com, the sports Internet portal. Before that, he worked in Brandlab business incubator for two years. Without a doubt, a person with such experience knows how to build a company from the ground up. The same can be said about Peter Azuolas, the CTO of the project. He worked as Lead Developer in Brandlab for more than 11 years, after that he worked as CTO in SportBlog.com together with Mr. April. The position of CFO in the project is occupied by the experienced financier Andrew Schupak, who has worked in merchant banking organizations for more than 15 years. The same can be said for almost every member of the team. The only question arises while studying Talia Bargil Bloom the LinkedIn profile: On the project site she is listed as Player Liaison, while in its profile she does not indicate that somehow connected with Fanchain or SportsCastr. Hopefully this is just a misunderstanding, and Talia Bargil Bloom will soon correct it.
Consider the White paper of the project. It is a very standard document describing the problem that exists among the fan movement at the moment, the proposed solutions, the project's ecosystem and its team. Particular attention is paid to the ecosystem that took about 28% of the White paper. At once it is clear, on what the team tried to make emphasis. It seems that due to such a detailed description of the ecosystem in the White paper there was no place to assess the potential of the market, nor the competitive environment, nor the financial and economic indicators the project plans to come out after receiving the investment. It would seem that such an experienced team should understand: without these points investors cannot objectively assess all the prospects of the project. Of course, most ICOs do not analyze in competitors their white books, do not write the expected financial indicators. But that does not mean that these items should not be there. This is exactly the case when it is worthless to follow the majority.
As we marked earlier, ICOmarks and TrackICO appreciated the project promotion of the in social networks fairly well. Indeed, at the moment of project review writing there were almost 8000 subscribers in Telegram. A decent result, especially if you consider that crowdsale will start only next year. In Twitter and Facebook, the results are more modest – around 1500 and 1700 subscribers, respectively. Overall, the results look good, and we believe that the ratings from ICOmarks and TrackICO are well deserved, especially as the project has almost 3 months to expand its community.
To summarize, it is safe to say that Fanchain has some very strong sides - an experienced team, working in the sports business for more than a year, worked detailed ecosystem of the project and growing community. It remains only to elaborate the white paper and to determine the status of some team members. After that, it is likely that the international rating agencies will reconsider their assessments for the better, and the project can gain enough investment to implement its plans.
Welcome to the page devoted to very interesting ICO project. In this review we will discuss the ways FanChain introduces blockchain technologies into sport`s streaming industry and will go over all the details of this ICO.
FanChain`s project plan is to create worldwide entertainment sports ecosystem which is totally decentralized. A number of incentive schemes are introduced for project fast establishment.
Fanz ICO. What is that?
FanChain is a platform designed for sports enthusiasts. It helps them to achieve their dreams – to make a good money on hobby while learning more about their favorite team or sportsman.
There are four key components within the platform:
· FanWallet for cryptocurrency;
· Mint, where unique competition’s tokens with graphical data will be created.
How it works? First of all, user ought to create team`s profile in the system. To find out more information about the project you have to buy FanChain tokens, where the data is stored. They are called the marks.
Then user will be able to find profile account, its balance and some graphical coin`s components. Coin`s owner is allowed to reward community members. Furthermore, owners receive bonuses and discounts on goods and services. That is, system invites investors with unique possibilities of team upgrading. Club owner can create FanChain tokens with its own logo. Fans will gain a substantial discount and will be able to buy tickets to the matches of the teams with such coins.
Three supporting campaigns were launched within the project:
· Campaign for partners. Company have announced that in three years’ time, after the end of the public sales, it will start the distribution of coins (1/10) to the partners.
· Public campaign. Each coin’s owner will receive rewards daily (depending on daily activity).
· Bounty. Furthermore, the project has invested significant share of overall token`s number (3%) for reward payments.
Thanks to iOs applications and simple web-interface SportsCastr is always in touch. SportsCastr – unique platform for real time videos, that allows you to watch live broadcasts on the screen of mobile phone.
· System provides for 600 million FANZ tokens in overall. Of these, 330 million have been put on sale.
· During the sales 1 FANZ was equal to 0,05 $. Users are able to buy coins for ETH, BitCoins and QASH.
· It should be noted that FanChain coins are created in accordance with ERC20 standard. It works on basis of modern ERC721. System`s coins are compatible to all ERC20 wallets.
· Pre-ICO stage had been successfully led in period from 30 June till 30 July. Token`s value was equal to $ 0,1.
Why should you support this project? Reasons:
· FanChain team works for the company benefit, is ready to help and answer ane question;
· All FanChain`s prototypes are available openly;
· Project`s leaders have long-term business experience. FanChain is bound to succeed;
· FanChain takes a part in crypto, blockchain forums and concludes big contracts.
If you want to be always in touch with the situation, latest news and investigations, subscribe to our newsletter. Just leave your Email and press the button in the form posted downwards on this page.
Willing to leave the homepage? Visit our blog where Cryptolabaratory authors frequently share their own observations and reviews with specialists from all over the world.