Connecting the sports industry with blockchain, StarSports Chain creates a new sports world

Blockchain will bring a new growth point to the trillion-level sports industry. According to PR Newswire, the global sports industry market value will reach $2,534.65 billion in 2024 at an annual compound growth rate of 8.1%. According to KPMG data, the global sports market (including infrastructure, sports competitions, sports training and related products) is worth about $600 billion to $700 billion per year, and its growth rate far exceeds the GDP growth of most countries in the world. However, the growth rate of the sports industry will usher in another revolutionary improvement with the advent of blockchain technology. This seems to have gained a certain consensus in the industry: blockchain technology, which has the characteristics of decentralization, transparency, openness, and immutability, will solve the problems of unclear value definition, uneven resource allocation, and over-centralization in the sunrise industry of sports. With the solution of these problems, the sports industry will usher in a new growth point.

StarSports Chain is a public chain for the field of sports competition. It is committed to providing a wider range of ecological resources for the sports industry, connecting and improving the initiative of various parts of the ecological chain, and realizing a new development of the sports ecology.

Connecting upstream and downstream resources   Build a full industry chain ecosystem

The global sports industry market is huge and has diverse profit models, ranging from athlete training and education, ticket sales, broadcast rights sales, commercial advertising sponsorship, derivative product development to sports lottery and user data monetization, etc. However, the seemingly related parties are in a state of separation. On the one hand, due to the intervention and control of central institutions, the effective connection of upstream and downstream resources in the sports industry is hindered to a certain extent; on the other hand, affected by the regional and market development environment, the global sports industry is in a state of unbalanced development.

Take the upstream IP resources of the sports industry as an example. Sports IP owners have built a primary market, but lack sufficient resources to build a secondary market, making it difficult to deeply tap the commercial value of IP assets. At the same time, the value of sports IP is largely determined by fans and consumers, but there is a gap between assets and fans. Fans cannot enjoy the benefits of rising asset value, and assets cannot quickly attract fans to promote their own value. In addition, there are a large number of cross-border and cross-border transactions in the operation and commercial realization of sports IP assets, and the settlement process is cumbersome, and liquidity is greatly reduced. For example: When a domestic fan wants to buy the home jersey of Real Madrid Club, he needs to find out whether there is a purchase channel in China. If not, he needs to go to an overseas website to buy it, which involves cross-border transactions, settlements, and finding intermediaries. Many tedious things. At the same time, it is difficult for fans to enjoy the benefits brought by the increase in the value of jerseys.

The mature development of blockchain technology has given the sports industry an opportunity to change. Its distributed ledger technology, smart contracts, and token economic systems will completely change the problems brought about by the traditional centralized mechanism of the sports industry and provide convenience for the circulation of value for all entities in the sports industry. What StarSports Chain does is to provide an open source, blockchain-based network open platform to connect the entire sports industry chain, realize a wider ecological connection for the sports industry, and obtain a wider range of ecological resources.

In terms of resources, StarSports Chain will introduce the world's top event organizers, clubs and star players to strengthen the community sports IP. It will also establish two communities of stars and clubs, build a crowdfunding platform for sports charity projects, and allow participants to invest in and incubate new sports projects on the crowdfunding platform.

At the core application service layer, StarSports Chain will build a sports IP and derivatives trading platform to realize the monetization of sports IP. At the same time, it will use blockchain technology to empower virtual assets in games and protect the rights and interests of players.

StarSports Chian will also use smart contracts to create new sports guessing games, and leverage the decentralization and traceability of blockchain technology to provide convenient ticketing, lottery and venue reservation services.

Figure 1. StarSports Chain integrates sports industry resources

StarSports Chain empowers the sports industry   Accelerate the value transfer of the sports industry

After integrating upstream and downstream resources of the sports industry chain, blockchain technology will accelerate the circulation and connection of sports value.

StarSports Chain is based on the characteristics of blockchain public ledgers. The pass economy model with native tokens - SST Star Token (Star Sports Token) as the medium can efficiently connect various parts of the sports industry chain and truly improve the initiative of various parts of the ecological chain. Under the pass economy model, by using SST Star Token as a reward, sports IP, merchants, and sports enthusiasts are attracted to participate in and build the StarSports Chain sports industry ecology. In the sports community of StarSports Chain, the writing and modification of smart contracts are involved. At the same time, the purchase, use, and transaction of applications are uniformly paid through SST Star Token. Whether consumers buy sports IP derivatives or sports CP sells related products, they can use SST Star Token to achieve fair value sharing among all participating links in the sports industry and improve the efficiency of value circulation. At the same time, SST Star Token, as a means of value storage, can appreciate as the value of StarSports Chain rises in the global sports industry.

For example, if we include top foreign clubs in the blockchain system and put some of their assets on the blockchain, fans can use tokens to exchange corresponding rights and interests, such as buying club jerseys, game tickets, genuine peripheral products, and even meeting with big-name stars. This directly eliminates the transaction troubles caused by regional differences, intermediaries, cross-border transactions, and scattered channels.

Figure 2. StarSports Chain economic system

In order to realize the construction of sports industry ecology and the circulation of sports industry value, StarSports Chain provides developers with a complete set of convenient and fast payment settlement and application development interface protocols, including sports star and event IP asset platform, sports game platform, distributed application open platform, etc. In the future, it will connect with major mainstream exchanges to open up the access channels for developers and users on the chain.

On StarSports Chain, developers and ecological partners can develop and access their own applications and resources, and use sports stars and event IP, sports clubs, sports game entertainment services, and application open platforms to realize value circulation and Token consumption. StarSports Chain will help developers to easily use SST star coins to develop applications or realize resource monetization by providing SDK and API interfaces for core applications. Ultimately, it will create a decentralized, global, and infiltrated sports industry chain full sports blockchain platform with rights sharing and value co-creation, and promote the establishment of a new sports business model and economic system.

StarSports Chain will use SST as a medium, apply blockchain technology, combine the sports industry and sports ecological chain applications and business scenarios, and efficiently connect all parts of the sports industry chain based on smart contracts and Token economic systems. At the same time, we expect to redefine the means of production, production relations and productivity of the sports industry with blockchain technology, bringing revolutionary new growth points to the entire industry.

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