FANCHAIN - ICO Overview - ICO Token News
Hello everyone, I will introduce the project about FanChain . If you are interested in joining the FanChain project, let's look at the following review Overview Overview of FanChain Tokens utilizing a unique combination of interchangeable and non-interchangeable characteristics that allows team loyalty and affinity to be embedded within individual tokens, and which can be produced and transmitted on various platforms through the supported DApp "printing" system.Decentralized and open ecosystems allow it to be adopted by online publishers, fantasy platforms, social networks, sports teams, over-the-top ("OTT") leagues, platforms, stadiums, and arenas - both online and on - location.
FanChain was developed by SportsCastr to be used on its platforms and on sports platforms or other affiliate sites where fans create value. SportsCastr's FanChain Ecosystem will include blockchain-powered digital items, tips, premium subscriptions, and pay-per-view functions ("PPV") and Company-level SDK that will enable the technology to be integrated into existing OTT systems. The problem The problem with the shift from fans as passive consumers to active content producers is that fans don't benefit from the value they create for their favorite team (and for other fans). Although sports leagues secure a high distribution record - and social networks generate billions of revenue from users generating content - fans have not been taken into account in the equation.
Solution
FanChain provides a framework where fans are rewarded with tokens that can be used in the sports ecosystem where they contribute, and create a feedback loop that gives incentives to the community to contribute to the social conversations they rely on for optimal sports.experience. FanChain introduces the concept of "Candy," which is supported by DApp and which enables third-party entities to distribute FanChain tokens that are stamped with certain sports teams, leagues or events.
FanChain aligns the interests of all stakeholders including fans, leagues, and media in several key areas:
Fans were awarded for supporting their favorite team
Fans get FanChain tokens to share news, comment and participate in their favorite team's social conversations.
Fans can then use their FanChain tokens to buy items, receive gifts, and access content from, for example, leagues, teams and media platforms.
Leagues and Teams Can Engage Fans with New Ways
Teams and leagues can offer prizes and access to their most involved fans by targeting each FanChain token holder who has their team tagged, and can receive FanChain tokens for merchandise or access.
The Media and Sports Platform Can Increase Fan Engagement
Online publishers, OTT platforms, and social networks can distribute FanChain tokens to encourage user-generated participation and content ("UGC") that increases the number of viewers, income, and adoption.
FanChain Ecosystem
The core FanChain ecosystem consists of FanChain, Mint, FanWallet, FanExchange, and FanPay tokens. Simply put, FanChain functions as follows:
A user creates content, or other values, for sports, teams, games, leagues or certain related events on the UGC platform that are approved as Mint.
Note: The role of Mint is to categorize content and stamp tokens. It cannot issue new tokens - only distributes tokens already owned.
Users receive FanChain tokens that contain metadata that are "stamped" with teams, leagues, or sporting events created by users for content or value as prizes.
Wallets that are compatible with FanChain tokens will show the total user FanChain token balance, and also provide visual details of the stamps associated with their tokens.
This results in content / value producers who are rewarded with FanChain tokens that are unique to sports, teams, their favorite leagues (or other sports related events).
Third parties can then offer special discounts, access, digital goods, promotions and features to FanChain users who hold a number of tokens stamped from teams, leagues, or other sports-related events and organizations.
How Are Fanchain Tokens Different?
FanChain tokens are based on the ERC20 standard but also adopt the ERC721 style feature when distributed or received within the FanChain ecosystem (including any wallets that add support for our DApp.)
Similar to the concept of "colored coins," FanChain tokens are a synthesis of tokens that are commensurate with tokens that cannot be exchanged. Although FanChain tokens are fully compatible with ERC20, the application of the ERC20 specification allows additional information to be stored on a per-address basis. This additional metadata contains a description of the address token balance by the team, league or event.
FanChain tokens can be transferred and monitored by ERC20 compatible wallets without caring or caring about additional metadata ("stamps"), but additional data associated with each stamped tokens (for example, team or league damage) becomes visible in the system known to FanChain.
Save metadata that is stamped at the address level, as opposed to token levels (as in the case of ERC721), allowing increased functionality. This includes:
Can be shared: Unlike pure ERC721 tokens, FanChain tokens can be minimized to enable the transaction of fine-grain and microtic. FanChain tokens can be transferred and stored as fractions of tokens, not just gradually.
Lower Gas Prices:
Transfers between addresses do not require transactions per token, but can be executed using simple and inexpensive group operations (even when transferring team tokens, leagues, or special events). This significantly reduces the gas consumed when using DApp FanChain. As a result, transactions only consume a little more Gas than the basic ERC20 operation, especially when compared to mass transfers ERC721.
For more information, please visit the following link:
WebSite: https://fanchain.com/
WhitePaper: https://fanchain.com/whitepaper/
Twitter: https://twitter.com/fanchain
Telegram: https://t.me/FanChain
Bitcointalk: https://bitcointalk.org/index.php?topic=5053869
Instagram: https://www.instagram.com/sportscastrlive/
author:Chubylaw
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