Do you know what’s more exciting than blockchain? Tradable NFTs
There are new kinds of crypto assets coming to the fore, and they're called Non-Fungible Tokens (NFTs). At one level they're just like any old collectible — an artifact or relic that collectors would want to hoard; but they're also cryptocurrencies, too.
In this article, I’m going to go into detail about one of the most exciting NFT projects to come so far –
Takeaway: Jetcoin is a startup using ERC20-compliant cryptocurrency and blockchain technology to engage fans and allow them to participate in the success of their favourite athletes and celebrities.
Now, let's get down to the nitty-gritty of it.
Section 1.: What is JetCoin?
Jetcoin is a token-centric platform that enables fans to buy, collect and sell smart digital trading cards based on their favorite celebrities. These digital assets are represented by Non-Fungible Tokens (). Tying the value of these collectibles to the potential earnings of the celebrities creates an exciting opportunity for and a new way for celebrities to monetize their popularity. The idea is that fans can now make money off their favorite stars and celebrities can boost their income.
Section 2.: How Does JetCoin’s Ecosystem Work?
Jetcoin is a blockchain-based fan engagement platform. It's designed to disrupt the sports industry by providing an innovative solution that connects brands, fans and athletes. It provides a way to fund new businesses and projects by creating a community of fans as investors. The platform will be used to fund promising sports stars and their careers, as well as crowdfund sporting events. But it also has the potential to be adapted for use by a wide range of industries, including entertainment and retail.
Jetcoin uses smart contracts on the Ethereum blockchain to allow fans to become investors in their favourite stars and projects. In return, they receive an ERC20 token called Jetcoins (JET). These tokens are tradable on crypto-exchanges – of 80,000,000 million in supply, about 12,8 million JETs are in circulation. Each year, 1% of all tokens received go back into a 'pot' for redistribution via Jetcoin's partners. This means that every year Jetcoin becomes more valuable for everyone in its ecosystem – both investors and project owners benefit over time.
Jetcoin can be used by anyone – it isn't reliant on any one sport or league, but is open to everyone who has creativity, ambition and drive.
Section 3.: How is Jetcoin Disrupting Traditional Sports and Entertainment Models?
Jetcoin is bringing all the power of blockchain to the world of sports and entertainment.
JET is the world's first blockchain-based token that aims to bring decentralized sports sponsorship to the next level. Jetcoin uses smart contracts and provides players, teams and organizations with funding by making use of their personal brand value. Celebrities for example will be able to crowdfund major projects and pay their team members and investors in a transparent way – all while securing funds that are payable immediately and directly into their bank accounts.
Jetcoin is a simple yet very powerful tool that allows people from all over the world to invest in the careers of their favourite sports stars and celebrities.
The way it works is very simple. Fans buy tokens and invest in their favorite "name" from a pool of sports rising stars and other promising talents, called Jetcoin Champions. As the star's career advances and their name and image power increases, fans can expect to make some profit along the way. Tokens act as a share in the future earnings and IP rights of that particular celebrity or star.
Through this innovative system, fans and supporters can directly help their favorite stars or celebrities to grow their businesses and careers, while also making sure they do not miss out on any of their success in future. Jetcoin users have the ability to fund emerging talent in the sports and entertainment industries and receive returns based on their success. Thanks to this revolutionary approach, fans will have a deeper influence on the stars they love and become the real drivers of their future careers. Fans fund Jetcoin which will in turn finance celebrity projects, and give back to fans! As simple as that, it will ensure that these celebrities stay true to their fans and keep up with quality performances.
As a trailblazer in that specific regard, Jetcoin Institute will empower communities globally by enabling the general public investors to operate upon a level playing field and benefit from the financial gains of their investments.
The Jetcoin project is an exciting new project which has the potential to revolutionize the way that fans, teams and sponsors interact. It provides a way for smaller clubs to compete with their larger counterparts if they have fans who are passionate enough to invest in their club.
Section 4.: JET NFT Card Viewer
Jetcoin offers a wide range of Jet Cards with varying value and utility. To enable seamless interaction with its NFT cards, Jetcoin has developed a unique tool called JET NFT Viewer (jetnft.com).
The JET NFT Card Viewer allows users to view and manage their cards, and understand each asset's unique features (such as provenance and ownership history) and how it can be used. You can use this app to add and browse all of your NFTs in one place, with the cards organized by type, brand and category.
Tapping on your cards will show you detailed information about them, including their current market value, how much you paid for them, their rarity and cost of creation. You can also see at a glance the exchange rate between JET and the value of the card.
In the near future, users of the Jetcoin platform will be able to view their NFT cards and start trading them for other crypto-assets in a peer-to-peer manner.
Section 5.: Jetcoin Football Sponsorships
Back in 2015, Italian “Hellas Verona F.C.” was the first professional football (soccer) club to accept Jetcoin tokens as payment method for club sponsorship. As part of the sponsorship deal, Jetcoin launched a “membership rewards mechanism” specifically designed for Hellas Verona football fans.
Since then, a number of Italian Serie A and English Football League clubs have followed, such as Derby County Football Club, A.C. Chievo Verona, and Wigan Athletic F.C.
Through its sponsorship of teams and games, not to mention digital banner ads, Jetcoin has given the football digital fanbase an opportunity to take a more hands-on involvement in the success of their favorite teams and players.
On a similar note, Jetcoin is also involved in luxury yacht shows and Formula One aside from football. A clever move to attract high-ticket sports exposure after setting foot in mass-market sports arenas.
Section 7.: Bottomline
Jetcoin started as an exciting project with the potential for positive change. Now, there's an evolution taking place in the world of sports and entertainment.
Jetcoin provides an innovative solution to a new paradigm in both sports and entertainment while creating opportunities for its investors. Behind all the internationally renowned athletes, models, and accomplished movie stars, there should always be the average man in the street who’s willing to part with some cash. Now with Jetcoin, they can actually make some cash and can always be a part of the next generation of the escapism they crave.
You’ll want to put your thinking cap on for this one. If you can imagine a symbiotic relationship between fans and their idols, you might hit on the driving force behind the success of their token sale. With a business model like this, drama will inevitably come into play – but only if it interferes with the bottom line.
The Jetcoin concept is noble, enjoyable and engaging but can it shift the paradigm of traditional sports and entertainment models? There are already many projects in the blockchain space incubating which will likely be keen to adopt this type of model – the future could be even more extreme with blockchain and the tokenization of sports and entertainment. One thing is for sure, the football world has been shaken up by Jetcoin.
