What is FiNANCiE
FiNANCiE is a platform for sports clubs and creators to build communities and an ecosystem to pursue and realize their dreams and goals with their fans.
The Web2.0 trend has enabled the “individual” to realize what used to be unachievable without the organizational advantage of a “company.” The trend gave rise to an economic bloc called the “creator economy” and has provided a platform where many creators continue to play their active roles.
However, even in the creator economy, only the large-scale platforms and a handful of creators are generating large profits, and the returns to the many fans who support them remain undefined. Also, the unavailability of the current mechanisms to respond to fans who have supported the creators since their early stage has been a concern.
To solve these issues, FiNANCiE offers a mechanism to maximize returns to creators and fans through "tokens" (CT).
Sports clubs and creators will act as "owners" who issue the tokens, and fans who purchase these tokens become community members as "supporters.”
Tokens are not only sold but they are also traded on the secondary market - thus creating a “token economy” along with the ongoing economic activities.
This token economy allows owners to continuously earn growth capital not only from token sales but also from market transaction fees, and supporters can buy and sell the tokens. Therefore, should the price of the token increase as a result of the owner’s activities, supporters can enjoy a portion of the increased value when selling the respective token.
Additionally, FiNANCiE records all transactions in this token economy on the FiNANCiE Lightning - a Layer 2 (source: https://blog.ethereum.org/2014/12/31/silos/) off-chain & on-chain fused solution through which the transactions are recorded on the Ethereum blockchain. In other words, the growth of the community is inscribed in the blockchain beyond the FiNANCiE platform. The transaction records of sports clubs and creator communities are not held by the FiNANCiE platform but are recorded on the blockchain with anti-falsification, semi-permanent data persistence, and transparency.
Furthermore, FiNANCiE utilizes blockchain technology to support the growth of sports clubs and creator communities in aspects beyond the token economy. In addition to adding values to the digital assets of sports clubs and creators through the issuance, sales, and management of NFTs, we will construct a framework to return greater benefits by issuing ERC20 tokens that can be transacted on the blockchain called FNCT for supporters who contribute to the community’s vitalization.
As the governance function of the FNCT will serve to influence FiNANCiE, the leading role of FiNANCiE will be taken not only by the platform but also by sports clubs, creators, and fans that vitalize the community whose opinions will be adopted more than ever. This will allow FiNANCiE to incorporate DAO (Decentralized Autonomous Organization) which can continue to grow in an autonomous and decentralized manner.