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SportyCo is the first decentralized sports ecosystem connecting athletes, clubs and organizations directly with fans and investors. Based on the Ethereum platform, SportyCo aims to disrupt the world of sports financing with the digital world of virtual currencies, opening new possibilities for individual athletes and sport organizations to raise sports funds on a global scale.
Why Does the SportyCo (SPF) ICO Scam Work?
Unrealistic SportyCo (SPF) ICO goals: If an ICO makes bold claims without an economic plan or roadmap to support it, it’s best to avoid investing. Further, even if the team has offered a roadmap, you have to do your own research and judge the feasibility of the project.
Is the SportyCo (SPF) ICO whitepaper a real Buzzword salad , and looks to good to be true , but when you actually sit down to digest it, this ICO taste like vague claims and empty promises ? Let us know what you think , and let them know what you feel about their ICO .
You do not only want to see a very thorough whitepaper, but also look for a variety of complementary resources such as SWOT analysis, financial model, wallet design, competitor analysis, institutional studies, and more .
Before you invest your funds in the SportyCo (SPF) ICO , you need to take a moment of introspection to reexamine why you are investing in the said cryptocurrency. Are you buying into the SportyCo (SPF) ICO because it has strong business fundamentals or because the sales pitch make you feel good? You should also avoid buying into the SportyCo (SPF) ICO because the marketing pitch is always in your face through ads, emails, social media, or an unrelenting friend.
Jordan Belfort , the real ” Wolf of Wall Street ” has claimed that Initial Coin Offerings like SportyCo (SPF) ICO , are the “biggest scam ever”. ICO’s involve a company selling cryptographic tokens instead of shares or raising debt when starting up. These tokens can then be traded separately or back to the company for a service, for example, tokens will allow you to play a game or send a message on a platform. If the service proves the popular the coin is likely to increase in value. However, the absence of legal guidelines in this new and unregulated field has led to many ICO scams. That is the reason you must beware of SportyCo (SPF) ICO .
Is there a beta version of SportyCo (SPF) project ? Is there a launched product with limited functionality? Prefer projects which have “some lines” of working code, however, many ICOs have proven they can become success stories without any code written.
Why isn’t Bitcoin or Ethereum enough to serve as the SportyCo (SPF) project’s token? Yes, many projects just make up a scammy story. Hey, an ICO can’t be an ICO without a dedicated token. The same question needs to be asked regarding the use of the blockchain technology behind the project.
Greed can be defined by a high token distribution to the team members, let’s say, more than 50% of the tokens is suspicious. A good project will link its token distribution to the roadmap. Because each phase or milestone of the project requires a certain amount of funding.
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Is there a strong business case for SportyCo (SPF) ICO technology ?
Missing SportyCo (SPF) ICO code repository: This is another sure shot method to spotting an ICO scam. If the company is unwilling to release its code to public repositories such as Github, avoid the ICO altogether.
You can have the wrong impression that Your SportyCo (SPF) ICO investment is extremely liquidatable; and that you can cash out whenever you want, which makes this space quite distinctive and exciting. Please combine this with your typical individual who understands little of investing and only throws money at things. Hype fuels a good deal of gains in crypto’s which adds more danger, as any marketing firm can tell you Hype can be bought or created artificially….and you get scammed like a baby !!
When evaluating the SportyCo (SPF) ICO, the good first question to ask is: “Do they need a blockchain or a native token for this project?” The answer is no to both, chances are the ICO project is an example of solutionism — crypto for crypto’s sake — or a scam.
Thinking up a product like SportyCo (SPF) ICO , is not the same thing as creating it. Startups like SportyCo (SPF) ICO , very often “burn out” when faced with unforeseen problems. Someone goes bankrupt after launching his startup, while someone else doesn’t launch at all.
If the ICO is, by any means, anonymous or do not gladly advertise their team, it is an absolute NO GO for me. The one thing people have to loose when scamming other people through ICOs is their reputation. One can argue that they can loose time, but so many companies make it so easy to issue anything nowadays that it isn’t a factor anymore. So if they do not stake their own identities in the project I don’t advise you to count on them to take it seriously.
Please Note : fake ICOs make vague claims. Usually, they will claim that they can get huge gains within short time but cannot back that up with substantial claims, or make weird claims like they will finally end all the global crises in the ICO world of computers and digits. Actually, SportyCo (SPF) ICO , instead of giving details of the project for anyone to assess and scrutinize, they are more fascinated with projections of a better future and better market prices and gains.
Learning about the idea of SportyCo (SPF) ICO is the first approach, and the first series of questions would include: what do they intend to achieve, what problems are to be solved and how will they solve the problems. Underlining these questions, investors are driven to source for information either through their website, technical papers, social media pages and through review websites. The following are some of the key areas where answers to the questions can be found:
SportyCo (SPF) Goals and Objectives, looking through their documents, the goals and objectives of the projects are usually pointed out to help investors understand their vision and the concise version of the undertaken.
SportyCo (SPF) Technicality; whitepaper, proof-of-concept, Use-case / feasibility and Roadmap, all contain important data and say a lot about the enterprise. The white paper will show that the venture has a well thought through idea about what they intend to do. It usually contains the written explanations and other important information the investor might be interested in. Some even go as far as including snippets from their project source code or including graphical illustrations and flowcharts. This can be likened to the business plan in most contemporary real-world startups.
SportyCo (SPF) Proof-of-concept, where available shows the investors or audience the ability of the developers to pull through with the project showing an already existing prototype or MVP (minimum viable product) previously achieved by them.
The SportyCo (SPF) use-case and feasibility study help the investor to assess the team’s originality, whether the concept being proposed is feasible or already has competing demands; this way investors will be digging deeper to investigate what will distinguish this new product from others currently being established.
Who’s behind the SportyCo (SPF) Project?
Supporters of any venture should also look out for who the representatives are, their qualifications, their experiences – especially previously success in the same field, what social presence they have, and if the team comprises of any advisor and well-renowned expert in the field they have chosen to implement the blockchain concept. Also, partnership structure can say a lot about the tokenized asset.
If the SportyCo (SPF) project has been able to secure collaborations from experienced and already established blockchain business or prominent business figures from venture capital, then you know they have achieved a level of legitimacy.
It’s a general rule never to invest more than you are willing to lose, therefore, if you consider the SportyCo (SPF) project and the amount they are offering as stakes in the startup, carefully observe the investment size. If it is outrageous, then you should consider investing as little as possible, while this is not such an effective direct tool in assessing the authenticity of a crowdsale, it does help reduce the amount of loss should the SportyCo (SPF) project turn out to be a scam ICO.
What’s their economic structure of SportyCo (SPF) ICO ?
The primary reason for SportyCo (SPF) initial coin offering is to raise money to kick-start a blockchain enterprise. Other than this, the intentions can be suspicious. You can go through their prospective financial scope; you can tell if the team wants to put their bellies before the blockchain. How they intend to distribute their tokens, what percentage of stakes the developers or presumed advisors have in the entire budget are all markers to look out for.
Moreover, how will investors contribute their funds? Is there an escrow system set or will they be using a smart contract with multiple signature wallets? Who will the escrow be, and what are the conditions for fund transfer between escrows and developers.
Remember that tokenization of digital assets, coin offering, and cryptocurrency so far do not have legal backing and money could be lost through wrong investment choice. While the developer’s aim is to raise money to facilitate the undertaken, the objectives should be clearly understood by the investor, and their roles in bringing about the success of the project should not be ignored.
Some people like to build parallels between ICOs and the IPOs of the modern technological era. But, this analogy is incongruent — the problem being that the great majority of projects behind ICOs can not present a functioning product or service.
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Any project you invest money in must be real right now, not in the distant future. Is this the case with SportyCo (SPF) ICO ?
The first rule of thumb when it comes to investment in new ICOs is never investing in them unless you have seen a working prototype of their product in action yourself. Ask yourself : is this true for SportyCo (SPF) ICO ?
SportyCo (SPF) ICO people talk how their token supply will decrease (basic cryptocurrency feature present in all coins) and the token price will grow. See how fat that rising bottom line is. This is all they want – an expensive token that will let them dump and exchange it for Bitcoin.
Avoid ICO scams by knowing exactly what you’re getting into each time.
You need to decide for yourself whether a new coin has the potential to take off, and whether the developers know what they’re doing. If you don’t have the know-how to make a judgment, you should probably avoid all ICOs.
If an ICO like SportyCo (SPF) , suddenly starts putting out a lot of hype about time limits and a need for urgency, then it is definitely something to watch out for. Many ICO scams like SportyCo (SPF) ,rely on the so-called “FOMO,” or fear of missing out. So, the people behind these scams attempt to generate a large amount of FOMO in a very short amount of time with aggressive urgency campaigns. Then, once the ICO launches, they simply wait for FOMO to push the price up, and then sell. So, watch out for the SportyCo (SPF) urgency campaigns and ICO trying to capitalize on FOMO.
Another sign of an ICO scam is that the developers are unable to clearly articulate a valid use case for the token. The token should serve a key purpose in the startup’s platform. If it does not, the token will not sustain its value over the long-term. Related to this problem are tokens that advertise themselves merely as digital currencies without offering any real innovations or improvements upon existing cryptocurrency technology.
Due diligence is the key when it comes to research in the upcoming SportyCo (SPF) ICO and the products they are offering. You cannot just rely on other people’s research, comments, thoughts or analysis. There are always individuals who pass off paid promotion content as their research.
The best thing you can do is to communicate with SportyCo (SPF) ICO corporate executives involved with the ICO. In most cases, they are more than happy to provide valuable information to help you make your decision. Always be aware that the people you talk to at SportyCo (SPF) ICO , may not have the best intentions, so try to avoid sales pitches. Instead, focus on validating the SportyCo (SPF) ICO company’s existence and direction.
It’s becoming part of the ICO culture to post LinkedIn links along with the team’s profiles. That’s a good sign because shows us they’re not afraid to be contacted. In the past, scams posted real people’s profiles claiming they belonged to their ICO team when actually the person had no clue it as even going on. That’s why it is worth to at least check their profiles and make sure they mention the company that is launching the ICO. Otherwise it is an absolute red flag.
None of these tules are absolute truths. For example the Monaco Card team generated a lot of polemic because they didn’t have the Monaco brand on their profiles, but it turned out they had bureaucratic reasons for that and were yet changing the original company’s name to Monaco. Yet, as a general rule, teams should advertise their part in projects that seek to be crowdfunded.
SportyCo (SPF) ICO will usually have an escrow to hold user’s funds during the ICO and after. So keep an eye out for the Escrow participants and the escrow conditions. This may save you some money. Do you think that the SportyCo (SPF) ICO startup is using the top Escrow service . And if it’s not, it can be a good indicator about the fact that this ICO being a non-authentic one.
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ICOs like SportyCo (SPF) ICO , are a cheap way to finance artificial development without any commitments. They are a scam in itself because there is no insurance on the failure to deliver.
Ask them the right questions before investing even one single dollar in the SportyCo (SPF) ICO . You do not get the right answer , let us know .
While there are definitely some companies building innovative things on top of blockchains (and in the crypto space generally), there are many fraudulent groups who are looking for a quick cash grab. The field can be even more confusing to navigate when malicious groups get celebrity endorsements. Surely a trusted face would vet whoever they support?
Realize that even if a blockchain startup passes all of these tests, it doesn’t mean for certain that they aren’t trying to scam investors out of their money.
One thing that you should not forget to check on is what people are talking about the SportyCo (SPF) ICO which you are interested. If you have any doubt, you can simply put an open ended question on the forum asking people their opinions.
Fake and scam ICOs are interested in making their project statements and paragraphs and websites look and sound great, so there is a lot of buzzwords and absolutely nothing new for the reader and potential investor to learn. It turns out that the combination of attractive words, facts and new information will make a text look and sound great in the full description of the word great.
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And no matter how alert you remain, there will be a few people in coming times who will con even the smartest of you but as the market matures, the probability of an ICO being a fraudulent one will decrease and ultimately reach a null value.
REMEMBER : If something seems like a scam, it probably is.
Post your Anonymous Complaints & Reviews Today about SportyCo (SPF) ICO .
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You can follow discussions about SportyCo (SPF) ICO projects on BitcoinTalk and see if the developers have had past projects as well as other details of their accounts. The forum could also mention scam projects or shady projects you need to shun. You need to go past that by asking and checking if the SportyCo (SPF) ICO developer is running multiple BitcoinTalk accounts to promote his or her stuff or check why that could be so…it happens.
In general, during the development of their fundamental business strategy, SportyCo (SPF) ICO , like the majority of ICO sturtups focus on attracting investments. Originally, they may not even care about the future elaboration or even operational processes of their products. They simply endeavor to encourage crypto-investors to buy their tokens actively within a certain period. Without a doubt, it’s the wrong approach. The reason being that all of this is extremely important for the future operations of a sturup as a mature business unit. These things will determine whether the price of a SportyCo (SPF) ICO token issued by the company goes up or down at the crypto-exchanges. Obviously, SportyCo (SPF) ICO supporters are waiting for 10x capital gain, but the majority of us do not care about the deadlines for a project release.
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For anyone willing to invest in an ICO, please check the SportyCo (SPF) ICO project’s whitepaper for more technical and real information before moving forward. What you expect from a real ICO is high-level descriptions and specifications, step by step, about how the project will go on and how the technology works. You will get charts, calculations, simulations, formulas and other specifications. Some ICO scams will not reach that level probably because they target unsuspecting investors who either do not have time to read whitepapers or do not know whether one even exists. However, many do.
ICO — the hottest craze in cryptocurrencies — is an ‘absolute scam,’ Wikipedia Founder Jimmy Wales says
On this webpage you can post anonymous reviews and complaints about SportyCo (SPF) ICO .
If you have any kind of information about SportyCo (SPF) ICO , that connects them to financial scams , online frauds and investor’s complaints , let us know !
There are thousands of ICOs like SportyCo (SPF) , even going on right now , but unfortunately, most of them are scams or fake and out to steal your money. Most of ICO scams target first timers, but even experienced traders and miners fall into the scam trap.
The Wolf of Wall Street Thinks that ICOs Are ‘The Biggest Scam Ever’
Initial Coin Offering scams work in a similar way to that of Belfort’s penny stock pump-and-dump scheme, which entails a small group of investors buying an asset and driving the price higher by relentlessly promoting it. After the price has risen and more people have bought into the asset, the group will dump it and leave investors holding worthless securities. ICO scams work in a similar way, by driving up the value of coins before ‘dumping’ them for a quick profit. To give you an idea of how quickly such a scheme can happen, look at the new web browser company, Brave, whose initial coin offerings generated $35 million dollars in 30 seconds. There are now around 500 new ICO’s per month. The chairman of the US securities and Exchange Commission believes that pump-and-dump scams are easier to carry out with ICO’s because the trading in of tokens is electronic and largely anonymous, making it extremely difficult to trace and harder to catch the criminals behind it.
Lack of details in SportyCo (SPF) ICO : It’s an obvious red flag. If an ICO fails to provide technicalities and working of its product to potential investors and hosts then it means their product is not workable. Always make sure to check out public repository. To carefully judge the future of the business venture. It is best done through a secure identity verification service.
If a venture like SportyCo (SPF) is offering unrealistic gains or revenue then its probable that they are deep in debt and trying to pay off old investors by scamming new. These scams also threaten the back-office as they infiltrate with malware on your interface. Every ICO has a certain risk. If someone offers no-risk venture then it’s probably risky.
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What makes these ICO scams like SportyCo (SPF) , so much easier to launch in this technological age is partially due to the media excitement regarding crypto currencies. Belfort, as a penny stock purveyor, had to fight for attention whereas now ICO founders garner time on high-profile media outlets and in some cases even celebrity endorsement. Sites such as Twitter have made advertising a novelty currency much easier. “Promoters of ICO’s are perpetuating a massive scam”, says Belfort. He admits that it is likely most people don’t have bad intentions, but if they do it is a ‘disaster’.
There is a distinct lack of secure identity verification service(s) usage in ICO market. The instances of elaborate ICO scams in today’s digital market can’t help but argue whether it is still smart enough to engage in the field. The rise of exit scams, including the disappearance of founding teams with chunks of capital is alarming. It crushes the reliability of cryptocurrency and its sources. The question surfaces: if even apparent genuine crypto platforms can turn out to be a scam, how does one verify whether to trust a cryptocurrency startup. One thing is certain – digital verification, for ICOs investors, is continuous and not a one-time thing.
False URLs: Your first line of defense against ICO scams is a secure, protected connection. Avoid any incriminating appearing links. It might access your database through malicious route. Make sure that any information such as offered market price, is similar to the one being officially given. Check multiple sources to vet the figure. Avoid “offers” and “discounts” as they cannot be authenticated via ID verification.
Phishing in ICO marketing: It is the oldest form of scams. Fraudulent teams reach out to potential investors with designed emails to acquire personal information that include bitcoin wallets credentials. They impersonate everyday brands like Google or Facebook and send out scamming bots in encrypted emails. Avoid it by simply marking false appearing emails as spam. Use search engines to verify online presence.
Let’s face it, cryptocurrency is baffling to begin with. An attempt to secure it against scams is just good sense.
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Sports occupy unique cultural real estate and unify us in a way that nothing else does. Today, this is almost a $7 trillion business industry involving countless participants in areas that span far from sports yards into marketing and sponsorship, sports media, sports facilities and institutions. However, sport has also become a business with intricate ties to political and private interest, leaving an open door for non-transparency and power play. As the majority of revenues go to high-end entities, it is not athletes or clubs who reap the rewards of their continuous effort.
On the contrary, being professionally involved in sports means much more than only competing. It takes a tremendous amount of talent, passion and discipline, as well as money to be able to afford all the training and equipment expenses. Athletes, especially up-and-coming ones at the outset of their professional careers, face many issues when it comes to funding their training and participation in worldwide competitions. In such a challenging environment, only a few actually beat the odds and make it to the professionals.
SportyCo is about to change that. On the one hand, we are giving both fans and potential investors the tools to directly participate in one of the biggest and fastest growing industries; whereas on the other, we are allowing sports community to raise funds independently across the world. By removing high-end intermediaries, we are disrupting the existing model of sports participation financing and returning sports back to its core values.
SportyCo will work as a decentralized sports ecosystem, utilizing smart contract capacities and other benefits of blockchain revolution to minimize administration and logistic costs and to maximize the speed and security of the transactions between the participants in the new sports economy.
Sport has become a lucrative form of business, where much of the revenue does not go point-blank to the creators of value. Many professional athletes, clubs and sports organizations struggle with severe financial and liquidity issues, lacking channels, means and connections to monetize their fans’ attentions.
By being exposed solely to the stories of success, the public is often unaware of the struggles of the majority left-behind. But, the statics is eye-opening and faces us with a different kind of reality. For most of the up-and-coming talents at the outset of careers, becoming a professional athlete is extremely challenging as they are faced with cultural, systemics and especially economics obstacles on its path.
CLUBS AND SPORT ORGANIZATIONS
There are several organizational and capacity issues for clubs and organizations, including human resources, accommodation, management, financing and external orientation. Such multidimensional framework is even more difficult for minor clubs and leagues as the funding is all too often concentrated on larger, elite provisions.
FANS AND INVESTORS
Sports has an immense power to build stronger, more connected communities. Fans who love a particular sport are enthusiastic to get an opportunity to back, support and cheer for an athlete or organization they feel strongly about, leading us to believe the role, played by supporters in the economic model of sports, should be reconsidered.
Sports industry, projected to have grown $145 billion between 2010-2015, is a wide-reaching business in areas that span into marketing and sponsorship, sports media, sports facilities and institutions. In 2016, the global sports market, comprising of infrastructure, events, training and manufacturing and retail of sports goods (at one per cent of global GDP) was estimated to be worth around $600-700 billion.
Besides government, especially private sector and non-profit entities play a crucial role in the sports ecosystem. However, the competition is also higher than ever and there are only few organizations at its high-end, controlling the majority and prices of the market. This brings in non-transparency, extensive and often unreasonable costs and unfair deals for athletes and sports.
SportyCo, a decentralized sports ecosystem, will not only add an additional player to the sports industry, it will rather establish a completely new (sub)industry and create blockchain-based possibilities which were not possible or existing up to date. To achieve this, SportyCo will launch a Smart Manager Platform and a SportyCo Professional Fund.
SportyCo‘s Smart Manager Platform will enable donations, detailed sponsorship smart contracts of various types, as well as complex investment smart contracts, where an athlete, a club or another sports organization will offer a long-term deal for a share of their future income or other revenue stream in exchange for an upfront investment.
SportyCo’s Token Crowdsale will also allocate a part of the funds raised to a special SportyCo Professional Fund. The fund will invest in those athletes with the greatest potential in exchange for future return, based on, for example, prize money, image rights, transfer fees, and other rights of an athlete, depending on the type of sport. A team of sports industry advisors and professionals with a proven track record will analyze and select those athletes with the greatest potential to invest in, facilitating growth of the fund and the whole SportyCo ecosystem.
By setting up the SportyCo Smart Manager Platform and SportyCo Professional Fund, we will provide the sports and investment community a healthy ecosystem with a huge growth potential. The ecosystem will enable investors to harness and monetize the athletic potential of up-and-coming stars – who, until now, often didn’t have the means to finance their career.
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