Signed MOU Outlines Utility for LAB and EXP
Today, Expanse signed a partnership deal with Sports Agents 502, with the intent to migrate certain aspects of their business to the Expanse blockchain. Starting with Guatemala, then expanding to all of South America, the project is called BSports and will eventually be a global initiative.
Headquartered in Guatemala, Sports Agents 502 is an established sports management firm. Its focus is on managing and marketing elite athletes, primarily across South America. Founded in 2016, Sports Agents 502 inspires brands and sports figures to maximize the value associated with elite sports through sponsorships, events and other activities.
Omar Alvarez, Expanse Creative Director, is working directly with Sports Agents 502 CEO, Luis Arboleda, to define and orchestrate the initiative.
“We plan to build a Sports Smart City on the Expanse blockchain in three phases,” said Alvarez. “The project scope takes into account Tokenlab functionality already created, including minting tokens and launching smart contracts on Expanse.”
The first phase of the project involves establishing an identity on the blockchain for every athlete in every sports federation. (There are 46 sports federations in Guatemala alone.) Each athlete will have an online profile, approved by their respective federations. The federations will have the ability to record events and results on the athletes’ profile pages. This profile information can be leveraged for sponsorships or trading.
The second phase takes the application global, registering teams and allowing them to trade players using tokens.
Phase three involves working with broadcasting and sponsorship contracts for TV, Radio and Internet. The goal is to bring transparency and trust to the broadcasting and trading process, as well as to facilitate securing sponsorships from local and global brands.
“This undertaking has been a concept I have wanted to bring to fruition for some time,” said Arboleda. “The blockchain in general is the perfect vehicle and Expanse is proving to be the ideal technology partner to make it all happen.”
Now that the Memorandum of Understanding (MOU) is signed by all parties, the planning and development begins. Watch for regular updates in upcoming newsletters.