It seems that Natalie du Toit wanted to keep involved in the Sport industry by giving a twist to her career. The South African Paralympic swimmer started to work with Pretoria-based start-up Sports Podium in order to launch an Initial Coin Offering (ICO). The intention is to fund the first “knowledge-based digital sports economy.”
The Initial Coin Offering of the Sport Industry
According to Jaco Rossouw, Sports Podium co-founder, the ICO will take place in the next months. One of the main problems that the ICO faced during the last year is that there were many others in the market and that would have made it difficult for Sports Podium to succeed.
It is important to mention that during 2017, Initial Coin Offerings moved more than $3 billion dollars as reported by many different web pages. The number of ICOs is expected to keep growing this year as well.
Du Toit holds the role of community development officer (CDO) in the start-up. She will help to recruit sports players to the platform, most of the amateur. These individuals will be rewarded with POD tokens.
POD tokens can be used in the platform to buy related goods and services. At the same time, POD tokens will be used to pay for advertising in different sports-related portals. Moreover, the company will also generate revenue by placing ads on the platform.
Mr. Jaco Rossouw commented about Natalie du Toit’s participation in the ICO:
“Natalie du Toit’s success in sport will continue in business and she is instrumental in bringing ambassadors and friends on board. She is also our first ambassador (swimming) as she is globally, well respected for the successes in her amazing swimming career.”
The Initial Coin Offering is now discussing with other web pages to create partnerships where to spend POD tokens. Additionally, the ICO team is trying to gather other important sports people to the platform.
About Sports Podium
Sports Podium is an idea that emerged in 2010, according to Rossouw. When he came from the United Kingdom, where he was working during six years, he found one of his old school friends, a talented athlete and starting to talk about the possibility to create this platform.
“The reason he did not make it was because he was just living in various small towns and he did not have rich parents to send him to big schools,” he commented.
This is the moment when they’ve decided to search for a technological solution to this problem. In this way, he started a project called MyRugbyCV, in which he was able to build two rugby teams and take them on an international tour.
When he got introduced to cryptocurrencies, he thought that it could be a great idea to incentivize sportspeople to get engaged with a sports platform. This was the moment when Sports Podium was born.
Those who participate in sports activities will allow the platform to gather sports information. Using diverse algorithms, they will be able to verify the information provided and the individuals will be rewarded with POD tokens.
“In essence, individuals participating in sport, will provide us with sports information on a daily basis, from where we verify the info suing various algorithms and in return our blockchain will issue these individuals with POD tokens,” explains Jaco Rossouw.
Natalie du Toit is part of an exciting sports platform that seems to have a great future. Now is time to see whether other South African sports people will want to join the platform and support the project.