SportsPredictSocial is a sports prediction platform on the steem blockchain that rewards users with SPORTS tokens and hopefully STEEM when they make predictions on upcoming sports events.
Sports and sporting are passionate subjects for the participants and onlookers regardless of the sport. One very common characteristic found in fans of different sports is the energy and attention they pay to the sport of interest which is almost always as strong as the energy exerted by the sportsmen participating in the sport.
The passionate vibes given off by sports fans is a breeding ground for business opportunities which is why big sports teams around the world are cashing in on their fans love for the sport through ticket sales, merchandise and sponsorship deals.
Initially, everyone participating in the sport stands to acquire monetary gains except for the fans, they are the ones providing the monetary gain.
That changed with the introduction of sports betting, nowadays sport fans can earn from little to a lot of cash just by staking on sprt events. Sports betting is a very lucrative money making avenue, so much that one of the top sports bookmakers in my country uses a tagline 'reward for passion' indicating that bettors will get rewarded for their passion.
As nice and rewarding as sports betting can be, it is also a very easy way to lose money. And as easy as it may seem to make money from sports betting, the reality is quite the opposite. A large percentage of fans tend to lose their money to betting on sports games .
While the idea of betting on sports events is not bad, wouldn't there be nice to also have an alternative by the side. One that wouldn't involve loss of funds but would rather be based on a tokenized social network setting where the predictors would be rewarded with STEEM and any other tokens that can serve that purpose.
The market for these reward tokens can then be supported through some form of revenue sharing model in order to help increase the value of these tokens overtime.
That is the idea behind SportsPredictSocial, creating a platform where people with aligned interest in sports can come together, make predictions on upcoming sport events and get rewarded.
SportsPredictSocial is a simple enough idea, create a community of predictors who would make predictions on upcoming sports events.
Each user prediction will be rewarded based on how many of their predictions are correct so the only way a user's prediction will not be rewardedby the official curation account is if none of the predictions the make is correct.
For a more detailed information on how the reward system works please read the contents of this page.
Primarily, after we must have gathered considerable amount of traffic to the website we hope to monetize the project though ads, about 30 -35% of the ads revenue will be used to purchase STEEM and appropriate STEEM-ENGINE tokens to be burned and powered up as our contribution to the STEEM blockchain community, another 30% - 35% will be used to handle logistics such as server costs and other expenses, the remaining 30% will be added to our marketing and outreach budget.
Please note that this is only our proposed plan regarding the generated revenues as circumstances may end up gearing us to disburse the funds differently. But whichever way the funds are disbursed they would always be in order to meet up with obligations that come with growing the platform.
Another way that we plan on monetizing on the platform is by having an actual betting exchange where the users of the platform can make bets with STEEM or SPORTS tokens depending on their choice as provisions will be made for both.
Again, the revenue realized from this model will be distributed the same ways as above.
Currently, there is a running live version of the website which can be found here and has been running since the 4th quarter of 2019. Though there is still a number of improvements to make on the platform as regards the user interface and experience the general feedback has been encouraging.
Basically, almost all features provided by the steem blockchain has been integrated including a partly integrated wallet feature without the full features of a wallet.
However, the team members are constantly working to make improvements on the platform in order to make it more usable.
Right now we have a small community of users who are using the site and giving us feedback on regular basis which we are using to make improvements on the platform.
In order to reach out to more users we are looking to run ads on cointraffic and other traffic generation medium.
We are also looking for people who would consider investing in the platform either through STEEM POWER delegations or other means but preferably STEEM POWER to @sportspredict which is our official account. Getting STEEM POWER delegations would help us be able to expand our userbase and grow the platform.
We already have a program in place that will help us pay our delegators at weekly intervals in STEEM from a percentage of our daily rewards(about 30%). The remainder of the rewards will be disbursed as described in the monetization section above.
We look forward to a successful SportsPredictSocial and would really love you to be a part of that. We entertain any questions, feedback, suggestions and opinions.
Please reach out to us on Discord for any inquiries by following the Discord link below
We also would like to thank @patrickulrich and the SportsTalk community for their continued support, feedback and opinions. Your gestures are acknowledged and duly noted.