One Blockchain System To Rule Them All, With Multiple Goals To Score In

"It began with the forging of the great rings...And nine, nine rings were gifted to the race of men, who above all else desire power. For within these rings was bound the strength and will to govern each race. But they were all of them deceived, for another ring was made...

One Ring to rule them all, One Ring to find them, One Ring to bring them all, and in the darkness bind them.”

—J.R.R. Tolkien, "The Lord of the Rings"

If you haven't read and/or watched J.R.R. Tolkien’s, The Lord of the Rings, have no fear, as there is still much to be learned from this piece—you just may miss out on some really cool references.

In order to bridge the gap between the soccer community and its players, there is a 'ring of power' out there that just may fit a blockchain system, providing for unlimited possibilities. It's just a matter of finding that ring.

The Battle for The Goal

The world loves football. Yet, with over four (4) billion fans across the globe, 300,000 football clubs, and 240 million active players, the sport has become less “interactive.” But, how is this possible? Well, first, don’t confuse the level of interactivity with the level of passion fans, including myself, express and often flaunt.

Fans are provided the means to cheer and support their favorite teams and players, but from a distance.

#1 —An Isolated Community

As I frequently mention throughout my pieces, I have traveled the world to over thirteen different countries. During the course of my travels, I've collected football jerseys, old and new, from each country I've visited; eventually having the opportunity to wear them at live matches that I would normally be watching from my couch at home. Of those countries, I left Brazil, Ghana, and Hong Kong with a sense of community and belonging.

But, for those fans who may not have the financial ability to travel the world, their connection with their team or favorite player is extremely limited, attributed to a number of factors:

1. Geographic restriction
2. E-commerce for purchasing merchandise
3. Social media
4. Legal contracts
5. Occasional 'meet and greets'
6. Journalists, public relations, and biased media

On its own and/or in combination, these factors contribute to the diminishing interactivity of the space. Consequently, the e-Sports space and online fantasy sports space have increased in popularity, providing users and fans with a sense of control and influence over the teams they manage online.

#2 –The "Two Towers" of the Football Organization

The popularity of football clubs has made these organizations powerful. Not "the eye of Sauron" powerful, but still, influential enough to make certain decisions. In Tolkien's world, the "Two Towers," symbolized the joining of forces with Sauron's armies as against the rest of the world.

The stabilization of the football industry is attributed to the "Three Towers,"or organizations that have joined forces, ultimately controlling the space:

• Tower #1: Brand sponsorships (Nike, Adidas, etc.)
• Tower #2: Governing bodies (FIFA, UEFA, etc.)
• Tower #3: Media broadcasting companies

While not operating on a mission of world domination, these forces still control one important channel that keeps fans and communities at bay—access. Limited accessibility to athletes and players outside of the rare "meet and greets" or public appearances, kills the fan vibe.  The effects of which, trickle down and impact the relationship teams could have with its fans.

#3—The Journey Through 'Mordor'

Whether as a fan or by meme reference, the name Mordor, should ring a bell, serving as Sauron's main-stage for world domination. The world of social media resembles, at least in a digital sense, many characteristics of Tolkien's Mordor. It's ever growing and unpredictable.

Surrounding the towers, are barriers affecting the amount of exposure a team and/or its athletes have with their fans:

• With brand sponsorship, come legal contracts;
• With legal contracts, come requirements, such as required appearances and endorsement deals;
• With endorsement deals, comes media involvement; and
• With media involvement, comes journalists and the potential and likelihood for biased coverage.

In utilizing blockchain technology, the reduction and/or elimination of these intermediaries will always be the fundamental backbone.

#4—Finding The 'One Ring'

A few months ago, I covered a few different sports projects like MyDFS and Bountie, which by design, aim to connect teams with its fans. While the market has addressed what it believes to be timely issues, I still felt as if something was missing from the market as a whole—passion.

Reaching out to contacts of mine in Hong Kong, one project caught my immediate attention. While not set to be fully functional until the first quarter of 2020, the 433 Token project has a unique model and an even more promising backing. Developed by Soccer Legends Limited, a company co-founded by entrepreneurs, Jason Sze and Raymond Wong, the company looks to youth development and sponsorship to help address the disconnect. Recently, football legends, Andriy Shevchenko and Paul Scholes, have come on board, becoming the face of the entire ecosystem.

In my opinion, the ‘433 Token’ (Token) is one of these rings of power. Built on the Ethereum blockchain as an ERC-20 cryptocurrency, this ecosystem is designed to extinguish the burns left by the towers upon clubs, teams, and fans.

The mission is three-fold:

1. To guide, nurture, and mentor young talent from soccer academies around the world;
2. To break down the barriers built between the players and their fan-base community through auction-bidding; and
3. To provide fans with a sense of control through voting opportunities surrounding the nature and structure of the game.

The first two missions are the prime focus of my analysis. As a millennial sports fan, I believe addressing the younger fan demographic is invaluable to the survival of the football space in our digital age.

The Fellowship of Legends

In Tolkien's world, the Council of Elrond created the Fellowship of The Ring; in 433's world, the Fellowship of Legends allows professional athletes to directly shape and nurture young talent interested in improving their game, by signing on as a “Principal.”

Ranging from sixteen to eighteen years old, the individuals are picked from soccer academies around the world. The Principal has the ability to select and mentor up to five (5) children, meeting with them and working on managing nutrition, leadership techniques, and athletic development.  By monitoring their progress, the Principal is able to advise them on their strengths and weaknesses, including any potential pitfalls a professional player may face in their career.

Earlier this summer, Andriy Shevchenko, Ukraine’s football legend, and Paul Scholes, formerly with Manchester United, signed on as Principals, becoming the faces for this entire ecosystem.

“I’m a firm believer in supporting youth development in football," Scholes exclaimed, "and I’m delighted to be part of this project.”

Keeping Score On The Blockchain

Once they have chosen their mentees, the Principal then offers Token holders around the world, the opportunity to directly sponsor his mentoring by putting forward a certain number of their Tokens, which are distributed through smart contract technology.

For example, 500,000 Tokens are required for the Principal to mentor Talent A. Once 500,000 Tokens are put up, or sponsored, no more tokens are accepted, and the Principal must start his or her mentorship in order to redeem those 500,000 Tokens. Throughout the duration of the sponsorship, all of the Tokens are held and governed by the terms of the smart contract, until certain mentorship milestones are reached.

Watching Out For GDPR and Regulations

Back in May of this year, GDPR went into effect, instilling new regulations and penalties for those handling personal information belonging to European citizens. I was curious on the type of information the company stores on the Blockchain, and off. 

According to Anthony Huang, the Chief Marketing Officer for 433 Token, all the information is stored "on-chain," but with limited accessibility to only those sponsors who have been granted special permissions.

I spoke with Huang and he told me that the only "off chain" or private data being collected. is the date of birth and a photo, which together, demonstrate the youth talent's permission in accepting sponsorship. "No other private information such as home address or passport information is collected," Huang added.

Restoring Fandom Through Scaled Bidding

The company's second mission in restoring interactivity, explores scaled auction bidding. Being a loyal fan requires a great deal of passion, emotion, and financial devotion. With scale, the distance between a fan and his or her team can be shortened, significantly.

In 433's business model, a Principal will be able to hold an auction for special events (“event”) with his personal participation, including meet and greets, dinners, or even a scheduled football shootout on a field.

Utilizing smart contract technology, each event has an associated “Event Token” with it, where participation is allowed by purchasing and spending the native Token. The highest bidder will receive the Event Token and participate in that particular event. Other bidders will get their tokens back and wait for the next opportunity. In effectuating the contract, the Principal only redeems their Token once they satisfy their obligations to the event. Absent this, the tokens are returned to the bidder.

In Tolkien's world, there were nine rings of power, each containing value of its own. But, the 21st century has its own rings of power that seek to unite the spaces. In the world of soccer, I believe a ring of power has been found. There may very well be other rings out there. But, the potential of this ecosystem shows how implementing blockchain technology can truly empower the football community.

Geared to be fully functional by 2020, there’s no question that when the FIFA World Cup comes back around in 2022, the world will be cheering louder than it ever has. This is definitely a project for football fans to keep their eyes on.