Overview
- The funding round is backed by notable sports personalities and entrepreneurs, including One Football’s Lucas von Cranach and Sandbox’s COO and co-founder. Sebastian Borghetto and tennis pro Dominic Thiem
- The platform allows sports fans to invest in athletes and participate in real-world financial success
- Athletes can access new forms of financial resources and unlock emotional value by making fans part of their teams
Zug, Switzerland and Berlin , October 11, 2022 /PR Newswire/ — NFTsBased athlete investment platform FANtium (fantium.com), today announced a private pre-seed round. 2 million euros (US$2 million). Funding comes from prominent web3 business angels, including his COO and co-founder of Sandbox. Sebastian Borgediverted growth lead Brian O’HaganArgent Co-founder and CEO Itamar Resisse Anand Agarawala, co-founder of Spatial. Additionally, the company is backed by well-known sports personalities and entrepreneurs, including Austrian tennis pros, US Open champions and more. Dominic Thiemand Lukas von Cranach, founder of OneFootball.
The FANtium founding team (left to right: Jonathan Ludwig, Debora Lasoen, Christoph Kock, Anna Dierks, Justus Garbe)
FANtium begins to democratize athlete funding, allowing fans to invest in athletes and participate in real-world financial success. Fans can invest not only in seasonal earnings, but also in the career earnings of up-and-coming young talent. Investing fans are entitled to receive a portion of the athlete’s real-world earnings in the form of prize money and sponsorship deals. In addition to the financial benefits, fans can unlock emotional value and connect with athletes in entirely new ways by becoming part of a close community of athletes with access to unique fan perks.
Professional athletes will be able to tokenize a certain amount of future season prize money and sell those shares as NFTs to fans via FANtium’s platform. Earlier earnings can be reinvested early, such as by hiring a fitness coach or physical therapist, to reduce the risk of injury and more each season.
Young talent can tokenize a limited share of future income to raise the funds they need to rise to the top. Solve the big challenges facing many talents in different sports. They are talented but do not have access to the money to become fully professional.In particular, individual sports such as tennis, golf and racing are expensive to do early on and require travel, coaching and equipment. costs a lot of money. Access to money is also important for the best young players in their age groups.
“A season on the professional tennis tour is expensive. Many young players struggle a lot, especially when their parents can’t afford a career,” he said. Dominic Thiem, an Austrian tennis pro who was the best in his age group and later won the US Open. “Many young talents are forced to retire from the sport early on because they cannot afford to build a career. Even finding supporters and sponsors can be very difficult.”
That’s what FANtium wants to change. “If you think about it, it doesn’t make sense that only companies have access to money.There are billions of sports enthusiasts in the world who invest in these athletes to be part of their journey. I want to be,” he says. Jonathan Ludwig, co-founder and CEO of FANtium. “By connecting these talents with sports enthusiasts, we are making sport more equal, because success as a young athlete is no longer dependent on your financial background.”
similar to music NFTs While marketplaces like Royal sell song rights as NFTs, FANtium uses NFTs as the underlying technology that allows fans to invest in athletes and receive a portion of the revenue athletes earn. I’m here. The company envisions establishing investing in athletes as a new asset class before expanding into other sports rights categories.
Considering the latest cipher Regulation, whether or not such NFTs are considered securities, is yet to be seen, including the implications that will follow both the platform and users. However, FANtium appears to be following a new approach and launching its platform in a security compliant manner. Switzerland.
“We believe regulation is good for people. NFTs across the industry to provide trust and transparency NFTs Ludwig said: “Our goal is to provide frictionless access to investing in athletes in a compliant manner, especially in a dynamic and fragmented regulatory environment with specific requirements in each jurisdiction. is one of our biggest challenges over the next few years.”
The company plans to launch its first athlete drop in the fourth quarter of this year, leveraging its community of athletes to bring early sports fans to the platform. Users are currently Sign up for early access on the website.
FANtium was founded by a team of sports and web3 enthusiasts with extensive experience in building and scaling companies.it is guided by Jonathan Ludwighas previously built and exited two startups in the loyalty space and made early investments in multiple successful web3 startups such as Sorare. The founding team specifically combines his previous experience from BCG and Rocket Internet.
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Source FANtium AG
