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A new initiative is aiming to bring the benefits of blockchain technology and cryptocurrencies to the number 1 sport in the world – football.
Hong Kong-based Soccer Legends is the company behind the “433 Token” initiative which aims to raise $27 million capital to bring blockchain technology and smart contracts to football and revolutionize the football fan experience.
The objective is to enhance the transparency and efficiency of this sport, while empowering its over 3 billion fans to have a real say and interact transparently. In doing so, 433 Tokens will help promote blockchain technology and its adoption.
In an online post, the company explained that the 433 Tokens are based on the ERC-20 standard and its DApps and Ecosystem will run on the Ethereum platform. The unique features of 433token are the “hat-trick” or 3 utilities:
- Sponsoring a legend to mentor the youth talent
- Bidding – Auction and lottery to have a unique experience with a legend on a 1 on 1 basis
- Voting for a venue, rosters, and even game format of upcoming Global Legend Series (GLS) games
In August, Soccer Legends announced Manchester United star Paul Scholes as a Principal of the 433 Token initiative. Scholes joined Ukrainian national player Andriy Shevchenko in the “Fellowship of Legends” of the 433 Token Ecosystem.
“To support young players is something I’m really interested in,” Scholes told the South China Morning Post. “To be able to mentor a young player, to help with their youth development throughout their football is great. But also it’s important they become good people as well, I’ll help as much as I can.”
The company said that due to the project’s holistic approach, a number of legends are anxious to join 433 Token as a conduit to life coach and mentor the youth talent, to be better players on and off the field.
“So, 8 more legends have indicated serious intent to join as Principals,” the company told TokenPost.
The 433 Token development team is currently working on the launch of a Minimum Viable Product (MVP). The voting function will be featured first in the smartphone application, which is expected to launch in 2019. The team expects to launch a fully functional 433 Token Ecosystem in the first quarter of 2020.
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