When I heard about Jetcoin on the Publish0x platform for the first time, it reminded me very much of Chiliz. If you aren’t familiar with them, they are a fintech provider leveraging blockchain technology to bring sports and entertainment to the fans. They operate the Socios platform, utilizing the Chiliz blockchain and the $CHZ coin as their currency. They have partnered with several professional teams in football, e-gaming, ice hockey, fighting, motorsports, American football, and tennis. Exclusive tokens are offered against each team through initial FTO (Fan Token Offering), granting voting rights and exclusive privileges. This system gives power traditionally unavailable to the fans.
What is Jetcoin?
On the surface, Jetcoin seems to be doing the same thing as Chiliz, leveraging blockchain technology to bring sports and entertainment to the fans. But there is more to it. Jetcoin focuses on the individual – the talent, in any field, which gives them retain the power to choose the direction of their career, rather than being lost in the labyrinth of talent management agencies. This makes it unique and interesting
How Jetcoin works:
As I researched into Jetcoins history, I learned that Jetcoin has a long association with football, previously sponsoring Italian Serie A teams, an EFL team, and FA Cup games, in addition to digital banner advertising at 33 English Premier League games. They also became sleeve sponsor for Huddersfield Town for their FA Cup game against Burnley on Saturday, January 8th, 2022.
Jetcoin Institue and ITO (Initial Talent Offering)
The Jetcoin Institute is the medium through which artists, athletes, and future stars get discovered. They scout for talent and sign budding stars, which provides the emerging athlete or artist the boost they need early on in their career. A part of their IP or image rights is secured when signing a deal. As their career matures and they attract sponsors, the fans who invest in them early on benefit from their growth. Fans can invest in the Jetcoin Champions through ITO or Initial Talent Offering. A large portion of the revenue raised from ITOs is allocated to talent development, while the rest goes towards marketing and branding.
JET NFT: ingenious use of NFT trading cards
Jetcoin has incorporated NFTs into its strategy, allowing them to fund individuals and provide returns to investors. There are very few who haven’t heard about NFTs at this point, but just in case you don’t know, Non-Fungible Tokens (NFTs) are one-of-a-kind digital assets on the blockchain. Their uniqueness, indivisibility, and provenance give them an advantage over other assets explored by many projects, Jetcoin being one of them.
After a deal is signed, NFTs, in consideration of the career plans of the Jetcoin Champion, are released by the Jetcoin Institute. These NFTs are interactive multimedia cards, which have rewards that are preloaded or airdropped. While most NFTs are viewable on Metamask, JET NFT cards have unique features and do not display accurately within Metamask. The full features can be viewed on jetnft.com and downloaded by the owner for display. They currently have a number of football players that they have partnered with due to their association with football since their early days. You can view and buy these NFTs on mintable. As the Jetcoin Champions endorsements and value increase, the value of these NFTs is likely to rise. Fans can hold on to the NFTs for airdrops or, trade in the secondary market, just like any other trading card, and realize profits. Both holding and trading can be considered a win-win for NFT card owners.
How does it compare with Chiliz?
While both the projects are using blockchain in sports and entertainment, there are a few key differences between the two projects:
- Chiliz has partnered with established teams and champions, whereas Jetcoin focuses on early-stage individuals and teams.
- Chiliz brings fan experience outside the stadium while Jetcoin allows fans to build Champions.
- Chilliz operates on its own blockchain and offers tokens for each team through their FTO (Fan Token Offering). Fans can participate in these FTOs to gain voting rights and special privileges. Jetcoin, on the other hand, is an ERC-20 and BEP-20 token, both built on decentralized platforms for applications. Fans can participate in ITO (initial Talent Offering) to invest in NFTs, which will earn them rewards – either physical or digital - and airdrops to NFT holders. There is an additional advantage of displaying and trading these NFT cards for profits.
Is it worth investing in JetNFT?
Cryptocurrency trading and investing is a risky endeavor, and anyone looking to trade should do thorough research. I am no financial expert, but after researching into Jetcoin, it is evident that they are poised to disrupt the traditional model, empowering fans to cheer for their stars and individuals to take control of their careers. The beauty of this model is that anyone with a community can become a Jetcoin Champion. There is a lot to like here, and at the end of the day, projects with fundamentals and practical benefits hold a lot of appeal for me. Looking at the growth of the Chiliz coin, it won’t be surprising if Jetcoin takes off in 2022, bar a bear market.
Jetcoin has been around for a few years now, and they have incorporated NFTs rather interestingly. When it comes to talent, be it in sports, music, or media, the pressure of delivering for stakeholders while maintaining control of one’s career is not an easy one. There are many dark stories that everyone has heard about, of artists and athletes disputes with their agencies and managers. Jectcoin offers an alternative to the traditional system by raising funds from fans and providing returns when endorsements come. It isn’t a competition for the Chiliz coin, however as they sign on teams, especially in football, they could very well be on the path to emerging as a competitor. Even if they don’t, it is beneficial to have alternatives available for the young genius.
If you are interested in investing or learning more about JET NFT, you can read their whitepaper here and litepaper here or follow them on their socials detailed in the description at the bottom. This article is only for educational purpose and is not to be considered as financial advice.
Dear Reader, what do you think about this review? Do you think it is similar to Chiliz or do you disagree? Let me know in the comments. Show your love by adding a tip or a like! Your support encourages me to keep writing.