TITLE OF THE IDEA
SWEAT, a Synthetic token that finally tracks the real value of sportsmen based on their actual performance.
Sport is both a very popular topic AND a very lucrative one.
Soccer industry is valued at $400 billions. A single 3 weeks Olympic games is worth more than $13 billions.
Millions of people watch games every week, and big sports events (World cups, Olympic games…) are more celebrated than anything else.
Sportsmen have got a financial valuation.
They can be high during one season and low the seasonafter, depending on their performance, but not only : will they make the club sell more shirts ? How old are they ? Are their best years behind them ? .
Clubs fight to get them the best ones and they sometimes pay very high fees to transfer a young promise based on their potential even if they did not prove anything yet.
Famous players are worshiped like gods.
Brands pay millions to work with them.
Yet, for traders (and crypto traders) there is no way to manage and trade these “assets”
NFT lovers can buy some players cards, but the value of these are deeply emotional and personal: they are not linked to anything purely technical.
Betters can bid on match results, but not on players and their long term evolution.
You can buy and sell players on FIFA games, but… they are only games
Something is missing.
WHICH METRIC WILL YOUR SYNTH TRACK?
Introducing the first ever sportsmen synthetic asset that tracks the real sporting value of sportsmen, based on facts and figures.
“Buy SWEAT-MBAPPE while he is still young and sell it for a profit two years later when he joins one of the top 10 club. Diversify your portfolio, investing in SWEAT-LEBRON or SWEAT-KALLIS to be on the basketball and cricket market.”
HOW WILL YOU GET DATA FOR YOUR METRIC?
Every sportsman will be valued using a mathematical model depending on:
I - the sport (soccer, basketball, biking, cricket, american football…)
II - the position on the field of the sportsman (striker, defender, goalkeeper…)
III - the value of the club where the sportsman plays (if any) : an average goalkeeper will have a better time playing for the Real Madrid thanks to the high class defenders around him than an excellent goalkeeper playing for Getafe
IV - the value of the league where plays the sportsman (the first league in england is different from the first league in Canada!).
=> A soccer player (striker) scoring goals and assists (I and II) playing with Fulhamin the english league for years (III and IV) will have a much higher value than a loosy striker starting its career in Manchester.
For both marketing purpose and operational constraint, we will start with the most popular sports and the higher leagues first.
For example: soccer (Europe), Basketball (US) and Cricket (Asia) first.
Then we will add granularity:
- referencing smaller leagues from already referenced sports.
- referencing more sports (biking, Tennis, Car race, MMA, Golf, Rugby… based on their respective popularity…)
For the most popular sports and sportsmen on the highest leagues, data is easily available, reliable and highly granular.
Some examples of data sources about sportsmen :
- 91 Sports APIs: FanFeedr, Seatwave and ESPN | ProgrammableWeb
These sources are used by the organizers of competitions and industry leaders, they deliver very precise information of all the events that occur on the field, for each players, according to the sport : passes, shots, goals, etc.
They can be accessed through API.
In order to mitigate the corruption risk and the error in measurement, we will use different sets of variables and remove isolated dots.
The valuation of the club and the competitiveness of the leagues could be get with the aggregation of weighted historical data regarding the national, continental and world trophies they won, the awards their players won.
MAIN OBSTACLES TO TACKLE
- formula: defining the right formulas to calculate the value of each token related to its sport/player
- tech: we shall request help for the database model and management
- token access: the token should be easy to buy as we target a very large market: as little transactions as possible.
- stability: we will use a stable as collateral to reduce the fear of loss in change (see below) while buying the synth.
- transparency: the formulas will be public and explained to anyone…
- culture: target the right country with the right sport/heroes in order to create traction and use.
COLLATERAL TYPE USED
We want our synthetic to be used by a majority of sport lovers.
We will then want to have a very low volatility on the collateral used, to make it the most disconnected from the crypto market.
A stable coin like USDC would be our first match.