U.S. markets open in 8 hours 6 minutes
  • S&P Futures

    -11.50 (-0.31%)
  • Dow Futures

    -69.00 (-0.23%)
  • Nasdaq Futures

    -39.50 (-0.34%)
  • Russell 2000 Futures

    -2.60 (-0.15%)
  • Crude Oil

    -0.21 (-0.24%)
  • Gold

    -2.00 (-0.12%)
  • Silver

    +0.10 (+0.51%)

    +0.0005 (+0.05%)
  • 10-Yr Bond

    0.0000 (0.00%)
  • Vix

    +1.97 (+6.90%)

    -0.0001 (-0.01%)

    -0.0780 (-0.05%)

    -369.91 (-1.82%)
  • CMC Crypto 200

    -9.22 (-1.99%)
  • FTSE 100

    -55.35 (-0.78%)
  • Nikkei 225

    -212.77 (-0.78%)

Decentralization of the Prevailing Ecosystem of the Sports Industry through Blockchain-Compatible DefiSportsCoin

·2 min read

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

(Left to Right) Moustapha Mahamat, COO; Kevin Bilal, CEO; Jason Y., CTO.

Ecosystems have seen multiple phases of growth in the preceding century; however, the ongoing perpetual growth of decentralization has been precipitated by the rise of Blockchain technology which renders immutability to its tamper-evident system of recording transactions and tracking digital assets. DefiSports, a sprouting contributor to an equitable world in sports tech, is developing a sports NFT marketplace for the sports industry in an attempt to certify all the signed athletes with NFTs so that players can be incentivized for making ground-breaking performances.

The predicament of the sports industry is compounded by the racial-pay gap and incentives from sponsorships, endorsements, and accommodations are designed to purvey resilience and fortitude to the managing clubs rather than the athletes that strive to hoist the clubs’ flags. DefiSports has made an unambiguous proclamation to extirpate all factors that contribute to the downside of the sports industry by generating transparency to connect with augmented reality and help the sports industry evolve from its current state of squalor and sordid affairs.

Through EcoTRACK, DefiSports intends to lend transparency to its sports Blockchain by enabling access to statistics, records, and data. Spearheading the search for young talent for any organization would be easier with the help of candid data of the public ledger in the repository of DefiSports. Fans can have personal engagement through decentralization and players can easily access their incentives by circumnavigating intermediaries.

Through crowdfunding and fundraising, DefiSports can develop a sports Blockchain that will give birth to sports innovation technology to be used by all mainstream sports channels.

DefiSports is an entrepreneurial brainchild of a progressive- and open-minded team of individuals led by Kevin Bilal, which has plunged into existence its robust cryptocurrency to rip through the centralized system that presides over the ubiquitous antiquated model that has a strong foothold in the entire world.

The enterprise aims to depose the status quo and the existing framework that advocates arbitrary use of power. DefiSports can shape the future and has the unequivocal objective to probe inefficiencies in the current system devoid of transparency that include the gender-pay gap. DefiSports also intends to provide a concrete pedestal to emerging talent from the third world reinforced by seamless access to their track record and performance analytics.

DefiSports is supported by top FinTech influencer, Herbert Sim, who sports over a million followers across his verified ‘blue tick’ public figure social media platforms on Facebook, Twitter and Instagram, as an investor and advisor.

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.