Crowd-funding: It’s a fantastic resource for ventures that hope to raise a small amount of money from a large number of people, usually via the Internet. Typically, this concept has worked to raise funds so that companies can develop and make new products and services — that is to say individuals funding companies. An area where it hasn’t fully been developed and explored is in allowing individuals to fund individuals; in this case, it could be used to allow individuals to fund their favorite athletes and teams.
Currently, if a football club wants to raise money from its fans, they need to go through a very frustrating process with tons of red tape and having to “jump through hoops”. By the time they receive funds from fans, the connection is often lost somewhere along the way; fans don’t get to keep a say in how the money is used, voting rights or interest through bonds. It goes towards a large pot and their voice isn’t heard. But with technology today and the ability to track each transaction via blockchain technology, it is possible to do both.
Fans want to support their team, know exactly where the money goes and support football clubs in designated ways. If they’re giving money, they want a say — they don’t just want it going into a general fund. Enter the concept of cryptocurrency and the utility of tokens.
Voting with tokens through a secure smart contract is all that’s needed to track their finances from A to B. They maintain their voice, the purpose for which they’re contributing funds follows their contribution from the time they submit all the way through to specific, designated action. United Fans will allow fans and football clubs to connect in meaningful ways, contribute funds easily and painlessly, and will give fans the power to give purposefully. Funds may be raised for athletes to enter tournaments, buy new gear, cover training expenses and anything else related to a custom campaign; it will also facilitate fundraising for charitable efforts — such as the recent initiative by Norwich City FC in which fans gave the club a loan to build their academy club.
Fans are willing to support a wide spectrum of initiatives — they just want to have a say of where their money is going. They’re happy to lend their money towards projects and needs they deem to be important, and many times if given an easy way to do so, they’ll donate above and beyond what’s needed. Football clubs can find success for projects quite easily if they are open to engaging with new technologies that make that connection point transparent from point A to B. United Fans ensures proper diligence and compliance in navigating the process of any fan-based support in a way which benefits both the fans and the teams.