Financier starts supporting 4 sports organizations such as crypto asset issuance
Financier, which develops the NFT business and the fan token issuance platform FiNANCiE, will provide comprehensive support to sports groups using the platform, from issuance of tokens (cryptographic assets) on the blockchain to subsequent distribution and global expansion. announced on September 26 that it had started
In addition, as the first step of this support, full-scale discussions have started with Angkor Tiger FC, Iganmu Tiger FC, Japan Cycle League (JCL), and Ryukyu Astida.
According to the announcement, this initiative will use the tokens of each sports team, which are currently issued on "FiNANCiE" as an off-chain, to tokens (cryptographic assets) on the blockchain in the future, and a token ecosystem that utilizes subsequent distribution. It is explained that it was started with the intention of each sports team to aim for further expansion.
Financier believes that the crypto assets that each team aims to issue can be linked with other services planned by the sports team, can be used for payments, and can be distributed on domestic and overseas crypto asset exchanges. It is expected that it will contribute significantly to the expansion.”
In addition, Financier will create an independent token ecosystem for sports teams and financiers by building a mechanism that links the crypto assets (virtual currency) that the company plans to issue, “financier tokens,” with the sports team’s own tokens. It is expected that it will lead to the enhancement and expansion of each other's token ecosystem, rather than forming a separate system."
First of all, the financier and the four supported teams will proceed with consideration of the design of the token ecosystem, compliance with laws and regulations, and selection of partners to implement the IEO (Initial Exchange Offering). is.
About Financier
Since its service launch in March 2019, Financier has already issued, sold, planned, and operated tokens for approximately 180 individuals, sports teams, leagues, various sports associations, and entertainment projects. Especially from 2021, we are focusing on sports club tokens, and currently about 80 sports teams have issued club tokens on "FiNANCiE".
In November last year, Financier signed a contract with Coincheck, which operates a domestic crypto asset exchange, to raise funds through an IEO, and is currently preparing for the implementation of the IEO.
In addition, Financier started a new IEO support business in July of this year, using the know-how gained during the IEO process with Coincheck. In the same business, Financier also announced that it has signed a partnership agreement with Light, which operates the next-generation distribution platform "palmu", to realize a domestic IEO.
What is an IEO (Initial Exchange Offering)?
An IEO is a model in which a cryptocurrency exchange supports token-based fundraising and specifically sells the issuer's tokens. Currently, IEOs have been implemented in Japan by Hashpalette for coin check Palette Token (PLT), and by FC Ryukyu, a member of the soccer J2 League, for GMO coin "FCR coin". (FCR)”.
