What is TokenStars (TEAM) Crypto Beginner’s Guide
TokenStars is a decentralized platform designed for talent management. Athletes are tokenized and users make a profit from them when they become successful. Tennis players, poker celebrities, and soccer players are targeted so far. In the future, the company plans to add hockey players, basketball players, models, actors, and singers.
TokenStars is based on the decentralized autonomous organization model. The athletes are young, ranging in age from 14 to 16. The goal is to support athletes before they are successful so that they have a chance to profit from their talents. A portion of their earnings would go to investors. Potential sources of revenue include:
tournament prizes, exhibition fees, sponsorship deals, advertising agreements, appearance fees, and name and image licensing.
TokenStars gives investors the best shot at finding a rising star, before the rest of the world does. There are three programs – ace, goal, and chip. The athletes use the funds for training, school, coaches, and promotions. TokenStars optimizes the talent sourcing process with the Global Scouts Network. This is a network of scouts that find talent. They are token holders. The token for the TokenStars platform is TEAM.
Trading TEAM Tokens
The TEAM token is traded on a few exchanges including Bit-Z and IDEX. TEAM tokens are paired with BTC and ETH tokens. TEAM has a market capitalization of $1,426,921. Daily trading volume is $163,049. 10,436,246 TEAM tokens are in circulation. A total of 17,818,682 TEAM tokens are available.
Recent trading data indicates relative steady trading. However, there was a recent drop in value on July 29th 2018. The TEAM token lost nearly $800,000 in market capitalization after topping the $2 million mark. The last time the TEAM token reached this value was back in May 26th 2018. Currently, the TEAM token is ranked 807th among cryptocurrencies by market capitalization.
Token Sale Distribution
$15 million was raised. The funds were used for the following expenses:
26% – Tech and platform development
25% – Players’ grants
13% – Marketing
10% – Advertising sales
Other expenses include PR, scouting, legal, management, and other expenses.
TEAM is an ERC20 token. It can be purchased from the crowdsale and at crypto exchanges. It can be earned through actions and tasks on the TokenStars platform. A total of 75 million TEAM tokens were created. They were distributed according to this list:
60% – 45 million – Contributors (Token Sale)
20% – 15 million – Network growth & community
20% – 15 million – Advisors & Team
Earning Tokens by Becoming Scouts, Promoters, and Analysts
Token holders can earn rewards (tokens) by becoming scouts, promoters, and analysts. Scouts find talented athletes. They assess a player’s abilities as well. Scouts help athletes sign contracts too.
Promoters generate buzz for athletes through social media websites. They build a fan-base for the athlete. Promoters interact with PR and media personnel. They arrange meetings with sponsors as well.
Analysts vote on players and select which contracts to renew. They vote for promoters as well. Analysts have the responsibility of selecting the leader of scouting. They make recommendations to the operations team.