The fundamental problems of the world sports industry of today are:
1. The value of sports is being greatly undervalued in today’s commercial environment, as there is no assessment system that can adequately measure the potential of sports.
2. The sports industry’s benefit distribution is becoming extremely centralized in favor of the top tier.
3. This era of fragmentation is bringing bigger and bigger challenges to sports participation.
To solve these problems, Sports Value Foundation, (vSport), registered in Singapore, is setting out to bring world-class blockchain developers, sports elites and top finance experts together to build a public vSportChain. Then take that to the sports industry to construct a new business ecosystem.
The vSport team and its partner organization, Sport 8 International, have many years of experience in, and understanding of the difficulties of the sports industry. By using blockchain technology, the Foundation intends to create a blockchain-based sports value system. In charge of the issuance and management of the VSC token (Sport Value Currency), vSport also aims to attract partners to join its on-chain ecosystem, link and integrate all parties together within the vSport blockchain in order to create a more efficient environment for the sports industry and assist it in transitioning to the new blockchain era.To coincide with the FIFA World Cup 2018, vSpor twill, first, bring sports fans into a user’s community and launch vSport Chain 1.0, which is based on Ethereum, and gradually build a new sports eco-system step by step, as follows:
1. vSport v1.0 test run: public chain release based on the underlying blockchain technology, VSC token issuance (Sports Value Chain), introduction of new partners within the ecosystem, creation of new business models and establishment of the vSport ecosystem
2. vSport v2.0 test run: introduction of the Sports Evaluation System (to appraise the real value in circulation), creation of value blocks, forming a value chain: incubating a series of applications to enhance the circulation of VSC; through a series of events, creating value blocks and a value chain based on a series of applications enabling value transfers, consolidation of the ecosystem, R&D, completion of applications and migration of the user community to the chain.
3. Completion of the vSport ecosystem on-chain establishment, facilitating the circulation and transfer of value within the sports industry, setting up a new standard for the sports industry in the new blockchain era