# SportX

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/sportx

- Industry: Financial Services
- Headquarters: Madrid, Spain
- Website: www.sportx.one
- Latest round: Series A (Mar 25, 2022)
- Investors on record: 1

## About

SportX is a blockchain-based platform that revolutionizes sports investment by facilitating the issuance, trading, and crowdfunding of sports intellectual property rights (IPRs) through an innovative decentralized marketplace.SportX, founded in 2017, is headquartered in Madrid, Spain. The company specializes in offering a platform for the trading of sports intellectual property rights. It has completed a total of 2 investment deals, with the most recent deal occurring on March 25, 2022, when SportX raised an undisclosed amount during its Series A funding round from new investor FJ Labs. The founders of SportX include Answer Wang, Chris Cushman, and Varun Prakash, who collectively bring a wealth of experience in technology and sports industries.SportX offers a blockchain-based platform that facilitates the issuance, trading, and crowdfunding of sports intellectual property rights (IPRs) through the SportX exchange. This platform allows athletes, clubs, and leagues to issue tokens that represent ownership and value associated with their respective sports IPs. Users can buy and sell these tokens, known as SOX tokens, in a transparent and decentralized marketplace aimed at enhancing fan engagement and democratizing access to sports investments. The primary customer base includes sports professionals, clubs, and individual investors, particularly in Europe and South America, where sports culture is deeply rooted.SportX generates revenue through transaction fees on trades conducted on its exchange platform, as well as from partnerships and collaborations with sports organizations and athletes. Each transaction involving the buying and selling of SOX tokens incurs a fee that contributes to the company's overall revenue stream. The revenue model is structured to accommodate both B2B partnerships with sports entities and direct-to-consumer transactions for individual users looking to invest in sports tokens. Additional revenue sources may include the sale of exclusive experiences and memorabilia through the platform, further enhancing user engagement and investment opportunities.SportX plans to leverage its recent funding from March 2022 to develop new products and expand its marketplace offerings. Specific upcoming products include enhancements to the platform that will improve user experience and introduce new functionalities by late 2023. The company also aims to expand into additional markets across North America and Asia, targeting a rollout by 2024. The funding will support these initiatives, enhancing operational capabilities and marketing efforts to attract a broader user base.

## Funding rounds

- Series A, Mar 25, 2022 — FJ Labs

## Investors

- FJ Labs (https://capitalatlas.ai/funds/fj-labs) — Series A