Tuesday, March 6, 2018

What do we know about the FCFL’s FAN token sale (ICO)?

Details of the Fan Controlled Football League’s FAN Token sale haven’t been fully revealed yet, but there’s plenty that we already do know and plenty that we can make educated guesses at.

Here’s what we know or can assume so far:

Public sale start date: “Early 2018”

Public sale announcement date: Very soon?

Likely token uses: hire and fire coaches, pick the players, control the plays, compete for prizes, engage with the league, teams and players in various ways and much more. The more tokens you have, the more control you’ll have over your favorite team. And the most tokens you have, the better chance of winning part of the $1m prize for the team that wins the league.

Expected token sale price: $0.01

Exchanges: FCFL focus is on utility of tokens, not speculation.  As a result, they’re not actively seeking exchange listing.  That said, they have two Bancor founders among their advisors and these will be ERC-20 compatible tokens, so I anticipate them being widely listed. That’ll be particularly true if demand is as high as I anticipate as the season start approaches.

Token pre-sale results: The FAN token presale exceeded the goal of $5m.

Token Allocation: 40% in token sale, 20% for founders, developers, employees and advisors, 20% for marketing, 20% for partners.

Use of funds: 25% for technology and development, 30% for league and team infrastructure, 15% for operations and advanced tech, 15% for public relations, marketing and customer acquisition, 10% for professional services and 5% contingency.

Number of tokens: It appears that there will be a total of $50m of tokens with somewhere between $20m-$25m as the hard cap on the token sale.

We’ll provide updates here as we learn more, so subscribe to our email list or bookmark this page!

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