The Sportcoin Network Whitepaper
TL;DR
The Sportcoin Network is a decentralized umbrella group for independent sports content creators. Creators use the hashtag with their tweets, articles, podcasts, videos, etc. If this is used five times, they become "Sportcoin Certified" content creators. There is no cost to the creators and they keep all royalties from their projects. Certified creators will have a link to their material posted on our website, X stream, and app.
Why?
There is a monopoly on the voices and content that the public has access to in sports. ESPN, Fox Sports, Apple, and a few others control 99% of the analysis and content that is viewed. There are thousands (maybe millions?) of independent and low/mid tier network journalists, creators, and average Joe's that are well versed and knowledgeable on the sports they watch. We want to give them a voice by creating a network where everyone can easily access their content. We aim to provide an alternative source for sports news that is easy to navigate and has no financial or general agenda attached to it.
How does it work?
When posting a tweet, video, article, or any other content, simply use our hashtag #Sportcoin. These posts will automatically tabulate together allowing people to search through our hashtag to see new sports content they likely wouldn't have seen. We will like the post and either retweet or quote tweet it out to our audience. We will interact with many posts as well to help promote natural growth for the content and the creator.
On top of this, we have created a website that will post all of the social media links for our Sportcoin Certified content creators. This is organized by sport and by medium which, again, makes it simple for people to look in one place for new sports content. This is the basis of what we are doing, creating an umbrella network that makes content quick and easy to access.
The coin and crypto part is the other side of this. We have created our Sportcoin token that correlates with our network and will help drive more attention to our Sportcoin Certified content creators. Crypto and sports are two of the most engaged and active communities on social media and we want to bring them together like never before. If a sports content creator writes an article and uses the #Sportcoin hashtag, it will draw the eyes of the sports community and crypto community alike. Conversely, if someone in crypto tweets about #Sportcoin as a token, then it will draw the eyes of the sports and crypto communities again. It's free advertisement on both sides of the coin, pun intended.
Who is this for?
For every independent and low/mid tier network sports content creator that is trying to grow their audience, make a name for themselves, and earn more money. It's also for every crypto investor who wants to help break up the monopoly on sports, easily view new material instead of the same rehearsed lines, and invest in a safe, decentralized project with massive potential.
Who we are
We are a team of lifelong sports fans and crypto investors that want to use blockchain technology and web3 to change the landscape of sports. We've always felt that our opinions and takes on sports were as good, if not better, than the analysts that got all the air time on the big networks. Social media has made it possible for every "couch analyst" to put their voice out there but the challenge of gaining listeners is often insurmountable. We've had some success in both sports and crypto and want to use that to grow the diversity of thoughts and opinions in sports media. Diversity of thoughts makes everyone better and avoiding group think is paramount to the future success of sports.
For naming purposes, we will collectively be called “Sportoshi”. Yup, we’re cool like that. We want to do what Satoshi did to the financing system but to the sporting world. Full transparency, this means a couple of very important things:
1. We want this to be completely decentralized and owned by the community. Our role is getting this up and running but then the community will run with it how they see fit.
2. This means that at some point, we will fade away and leave the project completely in the hands of the community. If it fails, then it fails. But, if it succeeds like we think it will well… look at Bitcoin. We won’t disappear without a notice however. When we feel the time is right, we will take the training wheels off and watch this network go. Our estimate is a one to two year range, but that’s just a guess. While our role is to get this up and running, we also don’t want to be so integrated that it becomes us running the network instead of the community. If we stay on too long, we run the risk of that. If we leave too soon, the community might not be prepared and ready to take control.
3. Because of the decentralized nature, we MUST remain anonymous. You can look at nearly every big project and point to the founder/founders (Vitalik Buterin, Charles Hoskinson, Brad Garlinghouse, etc.) which goes against what this network needs and has to be. The community must own this network eventually in order for it to flourish and we don’t want our names to take away from what has been built. That being said, we have left a few clues in our works for you to speculate over. Why would we do that? Sports are meant to be entertaining and it'll be entertaining for everyone to speculate on Sportoshi so… let the guesses begin!
Financial Framework
"What does this cost?" $0. Zilch. Nada. Free 99. The best part? You keep all royalties from X, Substack, YouTube, etc. as well. Nothing changes for you, except that you get more people to view your content, which means more money for you. So…why wouldn’t you use it? We haven’t found a good reason not to yet. It’s a no brainer.
Want to take it another step? Invest in our Sportcoin token. We make money, and your fans do as well, as Sportcoin grows in popularity and market cap. The more you use the network, the more popular it will become. The more popular the network is, the higher the probability of Sportcoin growing in popularity as well. You make more money, we make more money, and your fans make more money. As Michael Scott would say, “that’s a win-win-win.”
"What if you are part of another network?" No worries, you can still use our network along with your present network. We are an umbrella network that can contain all other mid level and lower networks. Think of us as more of a supplemental network, simply add us into what you are already doing. Unless you work for one of the “big networks”. Then quit your job and come work exclusively for Sportcoin Network.
Tokenomics
There are a total of 181,000,000 coins all in full circulation at launch. The 181 comes from the total number of teams in the NBA, NFL, NHL, MLB, MLS, WNBA, and NWSL combined.
There will be no delegation to the team upon the release of the coin. That's correct, 0% goes to the team. Why? Because we aren't in this for the money. We will use our own funds like everyone else to buy into this project because we believe in it that much. This project isn't about getting rich, it's about making a revolutionary change.
Mint and freeze authority are revoked. Liquidity is burnt. This is not a rug pull. It's not a memecoin. It's not a celebcoin. It's not a pump and dump. It's a long term altcoin that has the potential to be a top 100 coin one day. Invest with confidence!
We passed our Cyberscope audit as well, which can be found here: https://www.cyberscope.io/audits/22-sport
15,000,000 will be put into a wallet upon release to reward users and incentivize using Sportcoin. We know, a wallet instead of a DAO?! Yes, we are keeping everything simple and trying to build a community on trust. We've been in on coins that had a large share in a DAO to make it appear "safe" only to come to the realization that the DAO had a backdoor that they leaked money out of. So, in our opinion and experience, a wallet is just as safe as a DAO and it will be much easier for us to reward our users when they meet the thresholds mentioned below.
These 15,000,000 will be used to reward and entice content creators into our network. 30,000 will be gifted to each content creator joining until we run out. We will also use these coins to entice other crypto projects or endorsers to support our network. Essentially, these coins will all be used for the sole purpose of growing the Sportcoin Network.
Fraud prevention
We will also mint 23 "Jordan coins" to a wallet and won't move them. The purpose of this is to prevent fraud in case someone tries to claim to be Sportoshi. If someone makes that claim, all they have to do is move the Jordan coins. If they can’t, then there's no substance to their claim. This recently played out with Craig Wright claiming to be Satoshi but "lost the keys" to his bitcoin holdings. These are our keys and they are for everyone to see. This is our way of preventing fraud while also trying our best to "be like MIKE".
Governance
As you might have guessed by now, we also have a different view on governance. Most coins (memecoins especially) have no actual value so they try to create a purpose for the coin by saying it helps control governance. Through our years in crypto, we've seen several problems with this however.
1. Most holders don't care about governance or don't know enough to vote. This opens the door for a select few to manipulate governance by being overly technical or investion a ton of time that others don't have to invest.
2. Some coins have a weighted governance, meaning the more you hold the more your vote is worth. We've also seen this used to manipulate projects in unfair ways. Just because someone holds more of the token doesn't mean their opinion should be worth more.
3. Some coins require you to deposit coins, connect your wallet, burn coins, etc. in order to make a vote. The drawbacks of this are obvious, you lose your money in order to have a vote. No thanks.
4. Some have a staking system where only validators have a vote. They are representatives of the community and the more people stake with them, the larger their vote is. This again opens the door for obvious manipulation and pits validators against each other.
Continuing with our theme of keeping it simple, we are taking a simpler and more basic approach to governance. Governance decisions will be handled by Sportcoin Certified content creators in a simple majority vote. All creators that are Sportcoin Certified will be invited to this chat regardless but this will be used to make decisions for the coin and community moving forward. Why do it this way? Here are a few of our reasons:
1. It's simple. SCCC will simply have to answer a poll question and will have 7 days to place their vote. A popular majority vote will determine whether something passes or not (i.e. 201 yes, 200 no, vote passes).
2. Every SCCC has the same weighted value. One account equals one vote.
3. Everyone keeps their coins. There is no elaborate route that has to be taken in order to make a vote.
4. Our team (Sportoshi) will have no votes. Since we want this to be community driven, we don't want our vote to influence one way or the other. While we may give our opinions on certain matters, we ultimately will have no official vote.
5. We want to make sure those that don't hold the Sportcoin token to still have a voice. Users don't have to hold our coin in order to use our network, therefore they shouldn't have to hold our coin to have a vote.
6. We want those creating content to be the driving force for our community. We've seen how the loudest voices in a community can skew voting. It shouldn't be this way. If you are making content for the Sportcoin Network, you should have a vote. If you aren't, then you don't. Want to be able to vote? Become Sportcoin Certified!
We understand this is different but we think it's better for all the reasons listed above and many more. No governance setup is perfect but this is our attempt to alleviate the shortfalls that we've seen for so many years. This also means we won't be offering staking, farming, APR, or anything along those lines. Again, we believe most of those are simple attempts to bring activity to the chain whereas our focus lies on the sports content. No need to complicate things, so we will continue to keep it simple.
Burns
If we make any money during the process through various platforms, referral links, or other opportunities, these funds will be used to help facilitate burns. 50% of the funds will be dedicated to buying back Sportcoin tokens and burning them permanently. The other 50% will be used to buy more advertising, help with endorsements, and helping Sportcoin flourish.
Contacts
Email: sportcoin@protonmail.com
Website: sportcoin.network
X: @sportcoin1
Telegram: @sportcoin_network