Using Blockchain to interact with fan communities, celebrities can introduce millions of new users to the crypto industry to further drive the adoption of technology. TokenStars, a decentralized platform built on the Blockchain, aims to connect celebrities with fans and advertisers, and it already counts 15 stars onboard.
Supported by celebrity advisors such as world football champions Lothar Matthäus and Gianluca Zambrotta, Hollywood photographer Rico Torres and NHL top-scorer Nikita Kucherov, TokenStars targets a global celebrity management market topping $100+ bln. The startup aims to disrupt the monopoly of the top 10 talent management agencies controlling over $25 bln in contracts. Redfoo (LMFAO), a popular American DJ, hockey star Pavel Datsyuk and Bitcoin evangelist Roger Ver are already using the first platform module to raise money via a Blockchain-based charity auction.
One-stop-shop for celebrity-fan experiences
Two dozens of celebrities, including Paris Hilton, Jamie Foxx and Floyd Mayweather, have already endorsed various projects on Blockchain or publicly invested in ICOs. However, most endorsements are merely ad contracts and do not represent the actual involvement in the $500+ bln crypto market.
A celebrity management platform powered by the Blockchain could help stars connect with fans and advertisers directly without having to deal with agents who charge high fees. Built on Ethereum, TEAM by TokenStars aims to streamline the way brands, fans and celebrities interact with each other, whether it’s an endorsement contract, fan competition or a merchandise shopping.
The end goal is different for all community members. An aspiring celebrity gets upfront funds to drive a career from their avid fans or via hard-to-get advertising contracts. An already established star can find new revenue streams by selling merchandise or exclusive communication options to fans, start a contest or a charity initiative or find new sponsors.
In return, the celebrity pays TokenStars a commission from the sponsorship deals and prize money. Commission is paid in tokens, which are bought on exchanges. The growth of token value is a strong incentive for token holders. Additionally, token holders are awarded for scouting and voting for the rising stars. As a result, TokenStars aims to become a one-stop-shop for celebrity management actions.
A decentralized ecosystem
The TEAM platform is live, and it integrates 12 major modules divided into four layers by function. Blockchain technology ensures that a platform can provide transparency and scalability as well as successfully compete with today’s highly lucrative celebrity management industry.
The first layer, crowdfunding, is already live. It includes the modules targeted at celebrities eager to raise funds from supportive fans, to get advertising contracts or to support charity initiatives, as well as at fans that want to become part of the TEAM ecosystem.
To showcase its platform in action, TokenStars has already arranged two brand contracts. The Contests and Charity module launched in December 2017, is currently powering the Charity Crypto Auction, where celebrities donate some of their personal items, all of them being sold at the auction. Memorabilia items from Redfoo (ex-LMFAO), crypto-star Roger Ver, and biathlon Olympic champion Tarjei Boe are just some of the items being sold.
“One of my favorite things about cryptocurrencies is that they can really make a change in the world. Whether it’s business, arts, sports or now non-profits, they attract the attention of people all over the world to the things that matter. That’s the reason I’m happy to support Crypto Charity Auction by TokenStars,” says Roger Ver, a Bitcoin evangelist and early investor.
Bidding on Ver’s signed T-shirt helps to raise money for Mises Institute which promotes teaching and research in the Austrian School of Economics, and individual freedom, honest history and international peace. Another lot, a T-shirt from Wimbledon champion Martina Hingis, is already gone for a whopping $987– a 20x from the actual price. Two more modules of TokenStars platform will be out in Q1 2018.
Utility token
TEAM by TokenStars is the utility token used in activities on the TokenStars platform. It includes agency commission repayments from advertisers and celebrities, offering exclusive incentives to fans, and rewarding users for scouting rising stars.
To ensure all activities performed on the platform are verifiable, TokenStars leverages the perks of Blockchain technology. The decentralized model ensures low money transfer costs and fast transactions, empowering the global community to participate without involving third parties.
Other celebrities are already part of TEAM
After successfully raising $4.9+ mln in the ACE token sale for tennis, TokenStars switches to TEAM- a decentralized Blockchain-based platform that combines sports and showbiz into an ecosystem that brings world-known celebrities, fans and advertisers under the same roof.
An impressive lineup of over 15 international celebrities in entertainment and sports, including FIFA World Cup champions and NHL stars, already support the project. The TokenStars TEAM advisory board has renowned names in several industries, like football (Lothar Matthäus, Gianluca Zambrotta), tennis (Tommy Haas, Cedric Pioline, Robin Soderling), hockey (Nikita Kucherov), Hollywood (Rico Torres), poker (Alexander Anter), and more.
The TokenStars TEAM presale started on Dec. 20 and it will last until Jan. 27. For a minimum contribution of 1,000 TEAM tokens estimated at 0.1 BTC, those who participate in the sale get a 30 percent early bird bonus until Jan. 27. The token sale will run from Jan. 27 to Feb. 28.
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.