IV-1. Project WITH Business Model
What service does the WITH platform provide?
Last updated
Project WITH Whitepaper v1.1. (Eng)
What service does the WITH platform provide?
Last updated
Being introduced to the football market in January 2018, the WITH team began to develop a transfer/scout platform for an athlete-club-agent, in a PC/tablet/mobile application version. Thereafter, in September 2018, an athlete valuation algorithm was developed and employed by highly ranked league teams, producing recognizable results from demonstrations for particular clubs as the audience. Currently, the WITH team is consistently testing for various functions in order to carry out actual transfers.
Based upon the aforementioned experience, the platform being developed by Project WITH, provides the following services.
The fundamental service provided by WITH platform, is the support of an athlete transfer that strengthens the connection between athlete-club-fan, in order for the establishment of the opportunity of a smooth transition for low league/unknown/youth athletes. This particular service provides the following information.
Basic scoring records provided by the league/club: Is the most fundamental data provided by the league/ club, and for amateurs, can acquire at the corresponding organizations. Since early 2018, the WITH team has begun work for data collection and cleansing, and has been set for it to be automatically updated after every match.
Personal information: Record that can be additively uploaded in an athlete-initiated manner, which specifies medical information, desired transfer league/club, desired annual salary, contract clauses, etc., which are not necessarily officially recorded. If any corresponding record requires legal examination, the athlete may transfer to each member nation; the ways in which this can be applied, is to be found through additional necessary authentication according to the different regulations and league clauses of each nation. If an agent/club possesses a particular information, then it may update the corresponding record, upon receiving permission from the athlete.
Information of the club: Lastly, the information of the club is directly input by the particular club (or an assigned agent) that desires to transfer/scout the athlete; therefore, an open request can be made to figure out the top qualifications that are desired from an athlete, by targeting all clubs/athletes/agents across the globe, who are also users of the WITH platform. It is expected that the problems within the existing low-rank leagues - including searching for the athlete who entered the item i, ii above, or receiving a recruitment request directly from an athlete - can be resolved.
In addition to the security of /connection to a transfer opportunity, a valuation service is also provided for each individual athlete. This service can be employed when making decisions related to transits, at times such as calculating the optimum market value of the athlete desired by a club or agent or analyzing the potential improvement of results upon recruit a particular athlete. The valuation model of each individual athlete is composed of quantitative evaluation, qualitative evaluation, and the ultimate valuation produced by the weighted combination of the former and latter. Quantitative valuation is developed by utilizing the quantitative information from a particular athlete’s performance, accumulatively stored in the WITH platform. Qualitative valuation is carried out by the analysis of the advisor group of Project WITH, particularly football experts and psychometrists, setting up the items for qualitative valuation; thereafter, the valuation is carried out for athletes who have requested for the qualitative valuation. Although existing global football database companies have a merit in collecting and providing various quantitative information, their data is strictly limited to top famous athletes, and only provides data gathered and supplied in a one-dimensional manner due to the absence of a complex analysis model. It is the WITH platform that has overcome the aforementioned limitations of the existing databases, by incorporating the athlete valuation model, from which comprehensive and practical information is provided for enhanced decision making in the transfer of athletes.
Simultaneously, the Project WITH serves as a platform for the sharing of fan-created contents, and also as a BBS bulletin board (analysis articles, images, sharing/discussions) specialized in sports - in order to augment the participation of fans within the Project WITH platform. The particular service provides the following functions.
Bulletin board by Sport/ league/ club/ athlete: Is composed of pages for each sport/ league/ club/ athlete supported by fans, in which a bulletin board service (BBS) is provided in each page, where fans can publish posts. The type of posts may include analysis/intuition post-scripts/presupposed outcomes, and each post will come with a Like/Dislike/Reply service. Above all, in the case of the Version 1 that will be distributed in 2019 Quarter 2, the service will be limited to football and partner league/clubs with signed official contracts, though the service plans to extend out to further leagues and sports.
Video clips screening various sports: Is a division to which platform participants can upload their own videos, where any videos with original content related to sports is permitted. In Version 1, the service is planned to categorize the videos into Highlights/ Analysis/ Entertainment/ Others. In order to maximize the inflow of fans, the WITH platform has signed a partnership contract with Shoot For Love’ - a channel producing football videos, with the largest number of subscribers across the globe - and has agreed to upload an exclusive video of WITH in Version 1. Additionally, the participation of fans will be encouraged by uploading diverse training/match Highlights and other videos that can expand the fandom of clubs. It is planned for the WITH team to cooperate with retired athletes who share the videos with existing platforms, therefore providing contents that solely focus on WITH. Within the process, fans will be able to go beyond composing replies or pressing Like to the contents, and the platform will further add a service where fans can actively request for videos, in order to augment the performance of all users.
Other Gamification: Is not contained in Version 1, but in future versions, the platform plans to add gamification services such as different fantasy games, mock betting, etc. through the athlete valuation algorithm that is being developed by the WITH platform. Consequently, the service will go beyond simply seeking for the entertainment of fans, but will further apply the data collected from gamification to enhance the athlete valuation algorithm within the WITH platform. This particular part is planned to be processed through cooperation with local/international game development companies, and after launching Version 1, a further specific plan will be developed.
After an introducing WITH (sports career management platform) in 2019, we have thrived in sports blockchain industry by partnering with many prestigious institutions across sports associations and companies and developing various blockchain services including WEDID, NFT, Metaverse and Fantasy football.
ProjectWITH’s businesses can be defined as two areas, Data and Usage. ProjectWITH’s core business framework is summarized as follows.
As it shown above, ProjectWITH is now operating 5 core business of DID, Matching, NFT, Game and Metaverse. The first two businesses of DID(WEDID) and Matching(WITH) are focusing on data management and the last three business of NFT, Game and Metaverse are businesses utilizing the data gathered from WEDID and WITH.
More detailed information and performance of businesses are summarized below.
The Project WITH is a self-sustaining platform with a well-defined business model. The platform possesses 4 different business models, and explanations for each are as follows.
Commissions resulting from information inquiry and connection with agents: Upon personal information inquiry of the athlete/club, and the connection between club and athlete, WINT is used as the monetary unit. Within the process, a portion of WINT is deducted from the WITH platform in the form of commission, and is then made into profit after a 30 day conversion period.
Commissions resulting from sales of charged contents: The contents uploaded to the information sharing community can be categorized to being either free or charged. In the case of charged contents, a portion of the sum transaction amount becomes the commission sales of the WITH platform.
Athlete valuation: Provides information for athlete valuation by using the uploaded athlete information. Making use of the athlete valuation algorithm developed by the WITH team, the system produces relevant athlete valuation resources, which thereafter gets uploaded to the platform. Users who wish to receive athlete valuation information, must make WINT payments that differ depending on the standards of information, to the WITH platform.
Advertisements within the platform: Is not contained in Version 1, but in the Complete Version to be distributed in 2019 Quarter 4/2020 Quarter 1, advertisements from sports enterprises, will be displayed in the platform. Enterprises wishing for the display of advertisement must purchase WIKEN from the exchange market, and must make the payment to WITH platform as advertisement commission.
Two things are updated in ProjectWITH v1.1.
Firstly WINT(point)is not applied for any transaction as WIKEN(token) is the only developed and applied utility token at WITH ecosystem.
Secondly, as there are many new services ProjectWITH developed, various business model is needed to add.
Subscription: customizing functions such as personalized news feed, avatar, and data(or NFT) storage are added in WITH services across WITH and DID related services. To fulfill individual customizing needs, certain token expenditures are necessary.
Sales and Trading: when NFTs are minted or traded, WIKEN will be required to pay.
