January 26, 20185min816

First platform for celebrities and their fans on Blockchain

TokenStar is a decentralized platform which was built on the Blockchain, its purpose is to connect celebrities with their fans and advertisers. Celebrities can now introduce million of new users to the crypto industry to further drive the adoption of technology.

15 celebrities are already using this platform, like football champions Lothar Matthäus and Gianluca Zambrotta, Hollywood photographer Rico Torres and NHL top-scorer Nikita Kucherov, Token Stars targets a global celebrity management market topping $100+ bln. This startup aims to disrupt the monopoly of the top 10 talent management agencies controlling over $25 bln in contracts. Redfoo (LMFAO), a popular American DJ, hockey star Pavel Datsyuk and Bitcoin evangelist Roger Ver are already using the first platform to raise money through a Blockchain-based charity auction.

TokenStars is already working

The team platform is live and it integrates 12 major modules which are divided into 4 layers by function. Blockchain technology guarantees that a platform can provide transparency and scalability. It can also successfully compete with today’s highly lucrative celebrity management industry.

Crowdfunding is the 1.st layer and it’s already live. It includes units targeted at celebrity keen to raise funds from fans, to get advertising contracts or to support charity initiatives. And also at fans that want to become part of the team ecosystem.

TokenStars has already arranged two brand contracts. The contests and charity module launched in December 2017, and it’s currently powering the Charity Crypto Auction. Celebrities donate some of their personal items, they sell all of them at the auction. Memorabilia items from Redfoo (ex-LMFAO), crypto-star Roger Ver, and biathlon Olympic champion Tarjei Boe are just some of the items they sell.

No high fees for agents anymore

A lot of celebrities, including Paris Hilton, Jamie Foxx and Floyd Mayweather, have already endorsed various projects on Blockchain or publicly invested in ICOs. The most of endorsements are merely ad contracts and do not represent the actual involvement in the $500+ bln crypto market.

This celebrity management platform powered by the Blockchain could help stars connect with fans and advertisers directly without having to deal with agents who charge high fees. Built on Ethereum, TEAM by TokenStars aims to streamline the way brands, fans and celebrities interact with each other, whether it’s an endorsement contract, fan competition or a merchandise shopping.

The end goal is different for all community members. An aspiring celebrity gets upfront funds to drive a career from their avid fans or via hard-to-get advertising contracts. An already established star can find new revenue streams. They can do that by selling merchandise or exclusive communication options to fans. They can start a contest or a charity initiative or find new sponsors.

In return, the celebrity pays TokenStars a commission from the sponsorship deals and prize money. They pay commission in tokens, which they buy on exchanges. The growth of token value is a strong incentive for token holders. Token holders are awarded for scouting and voting for the rising stars. As a result, TokenStars aims to become a one-stop-shop for celebrity management actions.

Utility token

Team by TokenStars is the utility token used in activities on the TokenStars platform. It includes agency commission repayments from advertisers and celebrities. It offers exclusive incentives to fans, and rewarding users for scouting rising stars. To ensure all activities performed on the platform are verifiable, TokenStars leverages the perks of Blockchain technology. The decentralized model ensures low money transfer costs and fast transactions. That empowers the global community to participate without involving third parties.

What are your thoughts about this platform? Leave us a comment below!

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