Coming in January 2022:
Investing in athletes, before they go-PRO
EMERGING NFTs, issued by young athletes (before they are signed by leagues/teams), so they can continue to finance their training while offering a BUY-BACK from the initial investors, under the condition that the athlete is signed. GX looks to find hidden talent; young, ambitious amateur athletes, who are dedicating their lives to the pursuit of a career in professional sports
How it Works:
- Review our White Paper and understand what these NFTs mean and how they’ll be utilized.
- Purchase the NFT (or any number of available NFTs)
- Wait….keep waiting….check in from time to time to see if the athlete has any updates to their prospect with professional sports.
- Contingent on the athlete getting signed to a pro sports contract; GX will facilitate a BUY-BACK to the investors, at a premium above the original purchase price (buyback purchase price is contingent on the signing bonus of each individual athlete).
- Investing in a young athlete, with very little overhead (e-commerce transaction over the Gallant Exchange)
- If the athlete in question signs with pro sports, the NFTs value will then reflect the buy-back premium, which in turn could cause the investor to hold off and sell on a secondary market.
- The NFTs build provenance and history, as the original tokens used by the athlete to help finance their journey into professional sports.
- Buy Back, is when the athlete is signed, and then buys the NFT back at a premium reflecting 20-40% of their respective signing bonus.
- FAN ENGAGEMENT (the exciting part); GX will facilitate events and aspects of simply holding the NFT of the athletes, to drive engagement with potentially future sports stars.
How does the buyback work?
The athlete, their representatives, and GX combine to form a promise to the NFT holders, that a % of the athletes signing bonus will go to the NFT holders. This is how the athletes re-pay their initial backers who have invested into the athlete’s success.
Once an athlete’s contact is due, a GX representative will facilitate the transactions, on behalf of the athlete and the current NFT holders, which will equate to a pre-determined %, set by the athlete at the time of the NFT minting. This amount is known to the investors, well in advance.
GX is compensated by the Athlete, once that athlete is signed to their first professional sports contract. Seeing that the NFTs are a means to help get that athlete to professional status, GX will offer the owners of the collectible a significant premium over the initial cost of the card.