Jetcoin Institute (Jetcoin) is one of the most innovative players in the crypto industry. They offer a novel approach to empower raw talent across sports, music and media industry, while also allowing fans and supporters to participate in the success of these rockstars. (Image source)
Jetcoin provides support to talented teams via sponsorship and then identify promising individuals from within the team that would be nurtured throughout their career. These hand-picked individuals are christened as "Jetcoin Champions". Jetcoin will buy a portion of their image rights using funds primarily generated from the purchase of Jetcoin cryptocurrency token, $JET.
Supporters of the up-and-coming celebrities will invest on the future of their idols initially by purchasing $JET tokens. Once the talent has been signed, NFT cards will be issued that will provide more liquidity to the $JET pool. As these talented individuals progress and mature in their respective careers, they will generate revenue which will be distributed to the NFT holders in the form of $JET tokens. Also, as the value of $JET increases, Jetcoin will be able to fund and support more talent in the industry.
The Jetcoin token is an ERC-20 and BEP-20 token on the Ethereum and BSC blockchain, respectively. The BEP-20 token recently had a pre-sale, hosted by IDO platform Pinksale. More information is available here. Per whitepaper, 50% to 70% of NFT sales are allocated for talent development. This includes talent marketing and branding. The fundraising from NFT purchase is termed as Initial Talent Offering (ITO).
Jetcoin is the only authorized entity to release or issue JET tokens. The schedule of release is based on generated revenue. Jetcoin purchases $JET tokens from its reserve or from the market subject to community approval. The $JET token can be used to purchase relevant merchandise and unique experience engagements with the Jetcoin Champion that can be a behind-the-scene access, VIP boxes or seat upgrades, or exclusive parties or events.
As I read through the whitepaper, I finally got it.
The proposed solution of Jetcoin will not only empower and develop deserving talents, but it will also enable fans and supporters to get involved in their success. In addition, this would be a whole new engagement experience between the talent and supporters.
The Current Focus
While Jetcoin has sponsored luxury yatch shows and Formula One after-parties, its current focus is on football and this is not a surprise. Their "love affair" with football started way back 2014.
Jetcoin also have existing partnerships with various football clubs to identify promising and talented teams and players. They support the talent primarily using funds generated from NFT cards. The support is either in the form of lodging, equipment or personal trainer needs or to develop and promote the image of the talent.
In 2014, Jetcoin Institute sponsored Italian Series A club A.C. ChievoVerona. It was reported to be the first pro football team sponsored by a cryptocurrency company. From this, Jetcoin certainly made history. (Image source).
In 2015, Jetcoin Institute sponsored another fellow Italian Serie A club, Hellas Verona based in Verona, Veneto, Italy. This provided digital exposure for Jetcoin on electronic banners during the games, which were broadcasted in 85 countries. (Image source).
In 2018, Jetcoin Institute sponsored Derby County FC based in Derby, Derbyshire, England. Jetcoin was the club's new secondary shirt and shorts sponsor for the 2018/ 19 season. (Image source).
Jetcoin Institute also sponsored Wigan Athletic in the same year. The Wigan Athletic F.C. scored a historic win over Manchester City during that season that generated a lot of exposure for Jetcoin. It was said to be a classic David versus Goliath game. Wigan Athletic F.C. just made history, and so did Jetcoin. (Image source)
Just last month, December 2021, Jetcoin Institute has acquired a new football sponsorship with Huddersfield Town A.F.C composed of sleeve sponsorship rights and digital partnership for perimeter LED banner ads for the 2021- 2021 season. (Image source).
Sleeve sponsorship is getting the sponsor rights for the sleeve area, the second most important sponsorship slot after the torso. This has become quite the rage over the past decade. Again, this brand visibility is a big exposure for Jetcoin. The sleeve sponsorship is for the FA Cup game between Huddersfield Town A.F.C and Burnley scheduled on January 8, 2022.
What do you think? Would this be another historic match for the books? Whatever happens, my view is the team is already a winner with Jetcoin behind them. Only a limited number of teams will have the opportunity to get exposed to the crypto world and the lucky talents getting their own NFT cards is just awesome. Wait until their fans get hold of the JET NFT Viewer that aims to innovate celebrity engagement, discussed in further detail below.
The JET NFT Viewer
Non-Fungible Token (NFT) is a unique unit of data stored on the blockchain. It represents digital items such as videos, photos, audio, etc. and provides a proof of ownership that can be publicly verified on the blockchain.
In 2019, Jetcoin partnered with Mintable.app to create NFT cards. The process is that after signing a new talent, Jetcoin will create a series of limited edition NFT cards. These NFT cards are minted on the Ethereum blockchain. The NFT cards are available for purchase in Mintable.app Marketplace.
Once you purchased an NFT card, you can then use the JET NFT Viewer (jetnft.com) for a unique experience when viewing the NFT. You will need a MetaMask wallet to connect to the website. I participated in testing the JET NFT Viewer via Rinkeby Test Network and I was provided with a sample NFT. The sample NFT was a McLaren P1 LM car.
Viewer tutorial links are available for mobile and desktop. I only tested using desktop.
- If using mobile, you need to open the browser on your MetaMask and type and connect to JETNFT.com. Details here.
- If using desktop, use Chrome and visit JETNFT.com and connect using your MetaMask. Details here.
Once you connect your Metamask wallet, your NFT will be immediately displayed. However, I cannot determine how it will look if you purchased more than one NFT.
Hovering your mouse cursor over the NFT shows the NFT name. Clicking on the NFT takes you to a whole new world of information about your NFT. I love collecting and an easy view of information about my owned digital collectibles is a plus for me.
Below are the information available:
- About: A short description of the NFT.
- Technical Specifications: Detailed information about the NFT, e.g., price, year produced, produced units, wheelbase, etc.
- Performance: Detailed information focused on performance of the car.
- Photos: Select photos of the subject NFT. You can vertically browse through photo panels using arrows. A guide bar on the right lights up as you move from panel to panel. There were 8 photos during the testing, but I cannot determine if only a maximum of 8 photos can be made available. I also noticed a duplicated photo. This may be something Jetcoin needs to check for each photo they upload in the JET NFT VIEWER.
- Videos: Select videos of the subject NFT. You can vertically browse through video panels using arrows. A guide bar on the right lights up as you move from panel to panel. The videos are embedded YouTube links. I sampled the videos and I had no problems playing the video or playing it full screen. There were 2 videos during the testing, but I cannot determine if only a maximum of 2 videos can be made available.
- Extra Info: Additional links regarding the subject NFT.
- Rewards: Rewards, once available.
- Card Values: provides the Serial Number and Max Edition of the NFT.
The overall color scheme is an elegant combination of black, gray and green and white for texts. I like how it looks and the transition was smooth from page to page. However, to be effective, Jetcoin needs to ensure the information is accurate and timely updated and this may require a dedicated operations team. This applies as well for all photos and videos. There are also a bit of white space that requires more effort on how the presentation should be designed.
In the future, Jetcoin Institute will be including features such as rewards-at-purchase and scheduled airdrops for its NFT cards. Exciting times ahead!
I can say that Jetcoin has come a long way since 2014. Jetcoin continues to have an eye out for future rockstars of their field and I believe their solution will indeed help in ensuring they get the support they need. They are also helping fans get more involved and have an improved experience when engaging with their champions.
I believe they made the right decision to focus their energy on football, for now. Obviously, they had a very good start and its an industry where they can further their reputation and continue their dedication to help promising talents.
For me, the JET NFT Viewer will be something worth looking into as it matures with more features and offerings. I do think they have to exert effort in making sure that information displayed are accurate, that the photos and videos are properly maintained and updated, and to continue to strive to ensure all information are served as an "eye candy" for the fans.
Hope I was able to provide some useful insights. Any other things you wanted to add? Please leave your comments.
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References: Further information and links are available here.
Disclaimer: This article was written as a submission for #jetnft contest.