SportsCastr, the live streaming platform that lets fans become color commentators, is launching its own cryptocurrency, called FanChain, which can be used to reward the best commenters and most passionate fans.
Backed by sports industry figures including former NBA commissioner David Stern, NFL tight end Vernon Davis and Syracuse Basketball coach Jim Boeheim and NBA star Steve Smith, SportsCastr offers both a second-screen experiences for fans watching games and a first-screen OTT platform.
“We launched SportsCastr in alpha last year to let sports fans provide color commentary on live games straight from their couches to anywhere in the world, and continue to add features to revolutionize the fan viewing experience,” said Kevin April, CEO and Co-Founder of SportsCastr. “Developing a cryptocurrency to power and build this ecosystem is the natural next step, and we’re excited to introduce this to our partners and millions of sports fans globally.”
SportsCastr, sponsors, leagues and other users will be able use FanChain tokens to tip color commentators and reward fans for creating value for their favorite teams.
Like bits on the streaming gaming platform Twitch, viewers will be able to use FanChain tokens to unlock premium content, April said. FanChain token can also be used to buy digital goods and sports memorabilia.
The FanChain token has a unique combination of fungible and non-fungible characteristics that enables team loyalty to be embedded within individual tokens, which can be produced and transmitted across multiple platforms. The FanChain token will be available in private presale beginning in June 2018, with a public sale tentatively planned for summer 2018.
“Once FanChain is added to an exchange, fans will be able to exchange them for cash,” April added.
SportsCastr lets you add real-time scoreboards to your live-feed from the NFL, NBA, NBA, MLB, WNBA, English Premiere League Soccer, college football and men’s college basketball.
“It’s all about personalization and inter-connectivity,” said David Stern, a SportsCastr advisor and investor. “FanChain can act as the bridge between existing sports properties, which currently have no way to talk to each other.”