Brazilian Sports Entrepreneur Eyes Tokenizing Soccer Players

Brazilian Sports Entrepreneur Eyes Tokenizing Soccer Players

André Figer, vice president of one of Brazil’s largest sporting career management firms, has his eyes firmly on tokenizing football players.

The well-known entrepreneur has said that blockchain technology and tokenization of athletes has the potential to transform sport management around the world.

The Figer Group has been involved in many major movements in the soccer world, including Midfielder Giovanni’s move to Barcelona, Real Madrid’s purchase of Robinho as well as China’s midfielder Júnior Urso for Guangzhou R&F.

Tokenization Could Support Young Players

Figer said he is supporting the launch of a platform called Olecoin that will focus on encouraging new players who, due to a lack of financial support, often abandon their careers.

Citing FIFA figures, he pointed out that the world has more than 265 million people playing football, and that Brazil represents the world’s largest number of soccer stars. He said, though, that while millions of dollars are spent on international player transactions, countless talents are missing “along the way”:

“I believe that [blockchain] is a solution to some pains in the market. We see more and more frequently, parents of players offering their children almost as if at an auction between agents. We need to understand that the desperation on the part of the father and the family in general, in being able to help the son to continue his career, causes this to happen.”

That is where Olecoin can be of assistance. The idea, according to the developers of the project, is to create an ecosystem in which micro-investors can participate in their future receivables through the acquisition of the player’s token, with small participation in their future salaries and marketing contracts for a specific period. Figer declared:

“Initiatives like this project that I am part of can give more chances to these players, because some are really good but due to conditions, just do not have the opportunity. If there is a situation where you have a financial incentive so that this player has the possibility to do training, to have his sporting materials, to have adequate food, transportation to the training place, etc. So, through this platform we were able to generate opportunities for the player”.

Cryptolydian reported earlier that, Nornickel, the Russian giant in mining and smelting, has taken yet another step towards issuing metal-backed tokens on Atomyze, a blockchain platform based in Hyperledger.

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