Helpful Terms
A number of terms that help you in navigating the platform
What does “Prize money ownership” mean?
This term is found on the “Explore” page and indicates the total share of expected prize money an athlete has made available via the FANtium platform. It is thus synonymous with “X% ownership of season 2023 prize money” and “Ownership offered”
What does “Expected prize money 2023” mean?
This term is found at the top of the “Athlete” page and indicates the amount of prize money the athlete is expecting to gain in the upcoming season. This value forms the basis for evaluating the ownership per token.
What does “X% ownership of season 2023 prize money” mean?
This term is found at the top of the “Athlete” page and indicates the total share of expected prize money an athlete has made available via the FANtium platform. It is thus synonymous with "Prize money ownership" and "Ownership offered"
Valuation Method
This term can be found on the “Athlete” page and indicates how the expected earnings of the athlete were estimated.
Three Year Average
This is one of the methods available to athletes when estimating what share of their prize money they make available with a token. It evaluates the expected earnings of the upcoming season by extrapolating the average earnings from the last three seasons played by the athlete.
Please refer to the enclosed table to see an example of a valuation for the 2023 season:
Thus, the expected earnings for the 2023 season would be $1,066,667.
Year to Date Earnings
Depending on the stage of the current season, a way to evaluate the expected earnings of the upcoming season is by referring to the accumulated prize money the athlete has earned this far in the current season.
For example: If this calculation method is applied and the athlete has earned $1,400,000 in prize money through October 2022, the 2023 season would be valued at $1,400,000. This is attractive to the FANs as there is upside potential simply due to the fact that the expected earnings were calculated using an artificially shortened season.
Prior season's earnings
A third way to evaluate the expected prize money of the upcoming season is by looking at the prize money that the athlete has generated in the last completed season.
If for example we are evaluating the 2023 season and in the last completed season (i.e. 2021), the athlete had gained $1,300,000, then the 2023 season would be valued at $1,300,000.
Ownership per token
This term is found on the “Athlete” page as well as the “Token” page. It indicates what share in the prize money of an athlete the token holder is entitled to receive.
Ownership offered
This term can be found on the “Athlete” page and indicates the total share of expected prize money an athlete has made available via the FANtium platform. It is thus synonymous with the term “X% ownership of season 2023 prize money” and "Prize money ownership"
Season Earnings
This term can be found on the “Athlete” page and indicates how much prize money the athlete has gained in the current season until today.
Payout Interval
The term is found on the "Athlete" page and refers to the frequency at which the athlete distributes his earned prize money. In many cases this is quarterly, however as it is the athlete who is selling the tokens and also distributing the prize money, he / she can define the frequency at which he / she does the distribution.
Legal Information
This link leads you to the “Token Sales Agreement”. It is the sales contract for the token, entered into between the FAN (you) and the athlete.
Key Information Document
This link leads you to the “Key Information Document” that the athlete is publishing for his / her token. Such a document includes basic information regarding the token.
Next Payout Date
The term is found on the "Token" page and refers to the next date on which the athlete will make his / her prize money earnings available to the FANs.
What is Fiat Currency?
The term fiat currency refers to a government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it. The Swiss Franc, US Dollar and Euro are examples of Fiat currencies.
What is USDC?
USDC is a digital currency that is fully backed by US-Dollar Assets, with the value of one USDC coin pegged 1:1 to the value of one US-Dollar.
What is a Wallet?
A wallet is an application that functions as a storage for your cryptocurrency and tokens. It is called a wallet because it is used similarly to a wallet, to store cash and cards. Instead of holding these physical items, it stores your digital items, like tokens or cryptocurrency and provides the interface to access these assets.
What is an NFT?
Non-fungible tokens (NFTs) are cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other. Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency. This differs from fungible tokens like cryptocurrencies, which are identical to each other and, therefore, can serve as a medium for commercial transactions.
What is a smart contract?
A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code. The code and the agreements contained therein exist across a distributed, decentralized blockchain network. The code controls the execution, and transactions are trackable and irreversible. Smart contracts permit trusted transactions and agreements to be carried out among disparate, anonymous parties without the need for a central authority, legal system, or external enforcement mechanism.
In the case of FANtium, the smart contracts handle all transactions between the FANs and the athletes. This means that the initial purchase of the token as well as the payout of prize money is settled via the smart contracts.
What is On- / Off-Ramping?
On- / off-ramping is the process of converting fiat currency into digital currency (on-ramping) or vice versa (off-ramping). The FANtium Platform has integrated a credit card checkout solution so you can buy tokens directly with your credit card.
What is Torus?
Torus is a wallet provider that enables a one-click login for Web 3.0 applications such as decentralized cryptocurrency exchanges and NFT platforms. It serves as the mainstream gateway for users to access decentralized ecosystems through their personal and social media accounts such as Google, Facebook, Twitter and more.
It is important to highlight that all wallets that are created on Torus during the sign in processes are created by Torus and not by FANtium. Torus creates the wallet and ensures that only you have access via your social account credentials. Neither Torus nor FANtium have access to your wallet at any time.
If you are interested to learn more about Torus, you can find additional information here.
What do I see under “My wallet balance (USDC)”?
This term is found on the “Dashboard” it tells you the balance that you have on the wallet which you first connected to the FANtium platform.
What is meant with "Athletes backed"?
This term is found on the “Dashboard” and refers to the number of athletes of whom you own tokens.
What does "Tokens owned" mean?
This term is found on the “Dashboard” and indicates the total number of tokens you currently own.
What does "All-time earnings" mean?
This term can be found on the “Dashboard”. It refers to all the earnings that you have claimed, or are entitled to claim. It is therefore the sum of “Claimable now” and “Claimed earnings”
What is meant with "Claimed earnings"?
This term can be found on the “Dashboard” page”. It refers to all the earnings that you have already claimed from your tokens.
What does "Claimable now" refer to?
This term can be found on the “Dashboard” page. It refers to all the earnings that are currently claimable by you.
What is meant with "Next possible payout"?
This term can be found on the “Dashboard” page. It refers to the next date on which you can claim earnings - out of all of your tokens.
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