SUMMARY
The scale of the global sports market
The sports industry is expected to become one of the four major industries in the world. In the past decade, the sports industry has grown at an average annual rate of 5% above global GDP growth. In 2017, the production value of the global sports industry reached over $ 200 million. The revenue comes from competitive sporting events, sports & fitness industry, sporting goods, venue operators, intermediaries, and traditional sports media. With such a wide range, we can see the scale of its market is huge.
Current issues in the sports industry
- Issues of trust, impediment of communication and cooperation: Lack of trust has led to many issues that make it difficult for sport and has led to participants, including industry employees. and sports players, away from the sporting ecosystem. This potential danger has reversed the core value system in fitness, sport and its industry.
- The pace of globalization in sport has accelerated and communication between global sports practitioners has become more frequent. However, due to lack of data in the sports industry and fraud, sports talent can not be properly circulated, thus affecting the development of the entire sports industry.
- Today, the flow of sport and commerce still needs to find a reliable intermediary as an endorsement. This hinders the rapid flow of sports business. In addition, it increases the unnecessary extra charges.
PROJECT OVERVIEW
What is Faxport?
Faxport is a blockchain-based sports business service platform. Faxport uses the advantage of blockchain as a hierarchical, secure, immutable encryption and does not require any intermediate trusted organizations, relying on its use in the core business of commercial databases. sports, trade networks and talent recruitment. That way, Faxport provides a platform for participants with a trusted user experience based on trust and security. This is a complete ecosystem that addresses the challenges and issues that the global sports market is facing.
Faxport was established as a project team by the end of 2016, to develop and operate. In 2018, Faxport Holdings Limited is registered worldwide in Seychelles, with all operations conducted as a joint stock company. Directly connected with global sports trade players, service providers and consumers through a scattered chain network, it promotes positive interactions in the global sports trade market.
What does the project do?
The goal of Faxport is to develop into the most formal commercial sports service platform in the world. This project is based on the development of the intelligent contract of Ethereum. Ethereum is a widely accepted, standardized, fully implemented, and easy platform for developing and coordinating the basis of blockchain. Using Ethereum 's "Turing complete" virtualization technology, Faxport has redefined transaction modes and rules for state transition functions to build all types of intelligent contracts in sports commercial services.
FaxPort’s products
- FAX GO: Platform for mobilizing capital from the sports community
- FAX Data: Sports business database
- FAX Connect: The platform connects people in the global sports industry. Make it easy for them to find a trusted partner.
- FAX Career: The platform helps athletes find talent more effectively.
Characteristics of Faxport
- Directly connect global sports investors, servers and customers with a hierarchical blockchain network.
- Mainly applied as a sports-based ecosystem, sport business database, professional social networking, recruiting, crowdfunding etc.
- Building a global sports media platform.
- Faxport hopes to rebuild and sport the Kickstarter version, providing financial services, recovery and acceleration. As an investor, you can also immediately invest and sponsor any sports program in the world through cryptocurrency.
- FAS is a Faxport token solution. You can use FAS to buy FX at the appropriate discount, and FAS is also equivalent to the level of investment on FAX GO crowdfunding.
- FAX GO is independent on the Faxport platform.
- It is a decentralized payment platform with cryptocurrencies like FAS, BTC and ETH.
- Through mechanisms such as smart contracts, FAX GO can control the time frame and return the investment program.
Faxport's solution
Faxport wants to solve the challenges of the global sports and commerce industry by rebuilding trust relationships, setting up a global communications networking platform that connects athletes and accelerates. the development of global sports. Faxport will also reduce the economic cost and optimize the allocation of resources in sport through the use of artificial intelligence agreements that allow participants to check the identity and information of a party. Another easy way to conduct transactions and communications on the Faxport platform.
In addition, the application of positive incentive and dispute resolution mechanisms is aimed at enhancing user retention on the platform. Faxport seeks to establish a commercially viable sports-based ecosystem based on credibility, security and motivation, convenience and no commission.
Ecosystem
FaxPort is developing a healthy development ecosystem. The human factor is still mainstream.
- Users: behaviors such as conduct searches, inquiries, save, like, and edit, data within the platform are differentiated via tags. Tags are open and transparently mark the user’s identity. Based on the value of such behavior, the user can be awarded FX. When a large amount of data needs to be searched, downloaded or shared, an FX payment is required. FX rewards will be awarded when providing valid information when participating in community and data edits.
- Platform: the platform will apply a set service fee to each transaction within the ecosystem. These fees will be used towards continued development, maintenance, and expansion of the ecosystem and platform.
FAS token
The Faxport token (FAS) is based on the Ethereum standard ERC20. In addition to being used in transactions, FAS can be used to purchase FX credit on Faxport, which will enable the purchase of more services on the platform. The value of FAS is expected to increase as the number of users and customers of the platform grows. The total supply of FAS is 200 million tokens and the price of the token is 1 ETH for 3012 FAS.
TEAM
The core team now has 16 members involved in the research and development of this project. The highlight is Davids Hwang, chief executive of Sponia, the most professional sports company in China. There is also Vincent Lee as a commentator and knowledgeable in the field of sports. Both are co-founders of FaxPort. There are also technology experts, marketing managers, business managers, etc. All are actively contributing to the project. Currently, FaxPort is planning to expand the team to 40 people. The following are some typical members.
Core team
- Vincent Lee - Co-Fouder: He's in charge of business solution and marketing. Li once founded a fast recruiting company, and he's also a sports columnist. Li thinks a lot about blockchain applications, focusing on better experience in sports business world. Li wants to know what's turely important for a company or a program. Now he wants to find the answer through Faxport.
- Davids Hwang - Co-Founder: He's in charge of product direction and community operation. Huang is the operation director of Sponia, the most professional sports incubator in China, has strong relationship network in mainland China, Hong Kong, Japan and other countries and regions. Huang founded Faxport to solve many problems in sports business and push global circulation. Now, it's time.
Advisors
CONCLUSION
This is a decentralized sports platform that uses community voting and smart contracts to help investors or fans participate in sponsoring projects that are not well-developed due to lack of funds. . Faxport has started in 2016 and has grown rapidly in 2017 and they have just started the call-up process until mid-2018. This is a great value project, while many other projects are simply is on paper, no real results, not even tested products ... The investment in those projects has a lot of risks. But FaxPort is different, they have a solid foundation, they are in the momentum they simply want to expand the powerful platform they own. I have great expectations for the Faxport project, they have high-level teams, project teams, great ideas. I find the project very potential and exciting, for me this project is very much expected, I want to share this project to everyone. If you have opinion, leave below the comment section.
USEFULL LINKS
Website: https://faxport.io
Whitepaper: https://faxport.io/other/Faxport%20Whitepaper%20en.pdf
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=3247514
Facebook: https://www.facebook.com/Faxport_Global-150461205635116
Telegram: https://t.me/Faxportglobal
Twitter: https://twitter.com/Faxport_EN
Medium: https://medium.com/@faxport
Github: https://github.com/faxport
Author:
Bitcointalk username: kld_hp
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1014734