All Sports (SOC): The bullish crypto market has sparked excitement amongst the crypto community in the past few days. This is after the market had been stagnant for almost three months. All Sports blockchain platform is making an entry into the blockchain space with an objective of serving the $ billion sports industry. The SOC token which is used within this platform has moved +22% within the last 24 hours to trade at $0.0953 against the US dollar.
Blockchain technology is currently being adopted by most governments and financial institutions gradually. All Sports blockchain network identified the existing niche in the current world of sports and business that stem from this industry. Therefore, the team has developed its token to fuel a network that links the whole ecosystem in a fair and transparent way. This open source network utilizes smart contracts to encode sports IP and relay information that is necessary for the predictions/betting industry. Developers can build applications within this network that solve a specific niche such as mispricing of players due to centralized information sources and biased participation in the valuation process.
Sports have been generating revenue since back in the day making sportsmanship among the best paying talents right now. Premier league players are being sold for millions of euros and the market seems to be gaining more demand by the day. There are very many games played in our current society that have proven return worthy, it is this reason that sets pace for SOC’s success in the near future. The platform’s economic idea is to associate each player with an individual IP which has a commercial value on the All Sports blockchain network. This value is to be determined by the demand an IP asset has within the platform hence increasing transparency and fan involvement in player valuation as we move to the blockchain era.
The SOC Niche!
- Sports IP asset trading platform
This platform connects the contributors within the sports industry to enable efficient allocation of the resources available as well as profit maximization. The IP owners, fans & content creators can participate within the network based on the smart contracts; this is in a bid to ensure best industry pricing practices and value conformity. The network is divided into the following parts to achieve a fundamental value; IP asset display platform, an IP asset distribution platform (primary market), IP asset transactions (secondary market), and an IP authorized transaction center
- Sport Betting Platforms
All Sports open source protocol allows for developers to build technical on-chain apps that can be used for predicting sports outcome. With the SOC token users contributing on the platform will be able to earn depending on the demand of their products. This is a blue ocean right now given that most countries have been going easy on betting laws in the recent past.
- Blockchain Tech realization
This platform is among a couple of projects that are successfully implementing the blockchain technology to increase transparency. Records within the sports arena can be updated on the All Sports decentralized ledger with the aid of smart contracts. This solves a couple of issues that may involve data tampering or information distortion for personal gains within this billion dollar industry.
SOC Market Analysis
SOC token supply is currently at 745,190,105 which are only half of the total supply according to coinmarketcap. The coin has been bullish in the past month by over 200% to trade at $0.0924 right now. With a coin age of only quarter a year the altcoin has managed to achieve a market cap of $69 million placing it position 201 out of the close to 2000 cryptocurrencies. However, the coin’s volatility stands at 56% in the past month making it way more risky than any stock or bond investment right now. The working product of this token is right for the sports and blockchain market as things stand making its success dependent on its adoptability rate.