Figer Group Makes an Investment Towards the Tokenization of Soccer Players

News / 06.03.2020

On 6th March 2020, Cointelegraph reported that the Figer group, the highly acclaimed Brazilian sports management company, has launched OLE sports. OLE sports is a blockchain-based platform set to tokenize soccer players globally.

Andre Figer, The Figer Group’s Vice President, said that Olecoin would be a sign of hope for new soccer players, seeing that the majority of them drop their dreams despite being highly talented, due to lack of funds.

Figer Group will make its digital token Olecoin available for micro-investors within its ecosystem to purchase players’ tokens, enabling them to participate in future player receivables, market contracts, and salaries.

As one of Brazil’s most influential sports management companies, Figer Group has been countless in talent deals with significant clubs like Barcelona, Real Madrid, and Guangzhou.

Figer Group Creating A world of Opportunities For Young Soccer Talent

Figer spoke about FIFA statistics that show that approximately 265 million people play soccer, with Brazil being the holders of the highest record of all football stars. Nevertheless, as billions are spent on limited international soccer club transactions, massive talent is not recognized and disappears somewhere along the way.

According to the Figer Group VP, the solution to ease the frustration and lack of financial support for such talent is blockchain. He added that desperate times have seen parents go to the point of putting their children up for auction, for it seems like the only chance for them to follow their dreams.

 “We need to understand that the desperation on the part of the father and the family in general, in being able to help the son to continue his career, causes this to happen.”

Good For Investors, Superb for Upcoming Soccer Players

OLE sports club plans to revolutionize the soccer industry using blockchain by bringing soccer fans closer to the clubs. While encouraging young players from every corner of the world to involve themselves in professional soccer, OLE Sports will aid the creation of new opportunities for a better society.

“Ole will use blockchain to validate new talent information with real resources, reward users for data collection effort, store immutable digital contracts, discover and recruit new talents, and directly link investors and the talent in a transparent manner.”

Players will be entitled to 40% of the tokenization distribution, 40% to assure buyers investment, 20% to the holder community, and the remaining 10% to OLE sports. Figer gave more of his opinions, stating that such initiatives will create opportunities for such talented kids, who lack opportunities because of the conditions they are facing.

Tokenization Gaining Interest In The Sports Industry

Socios.com is another blockchain project helping sports clubs to launch their own fan tokens, including the recent launch with Paris Saint-Germaine and another one with Juventus.

Last year, Portugal’s most popular football club S.L Benfica partnered with UTRUST to become the first major football club in Europe to accept crypto payments.

Arsenal also became the first football club to sign a cryptocurrency deal in 2018 by partnering with Cashbet Coin, which became the Club’s official blockchains partner.

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Wayne is a Blockchain enthusiast and expert in crypto trading. Currently, he covers trendy issues on digital currencies.