Blockchain company Globatalent will launch its cryptocurrency issue this month to securitize future rights for club and player revenues.
The blockchain sports platform Globatalent has become the official sponsor of the Baskonia-Alavés group, which makes it the sponsor of teams such as Baskonia, Deportivo Alavés, Baskonia eSports, NK Rudês and JS Hercules.
Globatalent is a decentralization platform through blockchain that was born with the objective of "changing the sports industry" and allows clubs and players to obtain financing by selling future income rights to fans around the world.
The company assures that these investments are "liquid assets" and that its fundamental objective is to "decentralize the entire sports industry".
The sponsorship includes the use of the Globatalent logo in official meetings and collaboration in future actions. There is no talk of the possibility of participating in the platform.
In its plans, Globatalent had planned to launch its initial offer of cryptocurrency or ICO for accredited investors this month, with the support of "ambassadors" such as the Barcelona player Luis Suárez, the NBA veteran 'Mo' Evans, the central Betis Marc Bartra or the great chess teacher Anna Muzychuk. Sources of the platform confirmed to EL ESPAÑOL that this will be the case.
The model
And how does Globatalent work? The club or players offer the advance sale of a percentage of their future income rights. That percentage becomes 'tokens' associated with a club or player, and fans can buy them around the world. When sold to the player, the owners of the 'tokens' are entitled to receive the corresponding percentage'. Globatalent receives 3% for each transaction in the form of tokens.
This system, if it works, will mean a reduction in the dependence of clubs and players on television rights, a model that in the latest auctions points out that it will go downhill, benefits from the cryptocurrency fashion and puts additional pressure on the players who, more than ever, must be sold as children. It is a turn of the screw to the phenomenon of the entrance of investment funds in football. How will it work?