TokenStars and REGA announce a collaboration to insure athletes and provide investors with an opportunity to share risks when supporting players
TokenStars, the first celebrity management platform on blockchain, announces a partnership with REGA, the world’s first blockchain-based crowdsurance platform, to create crowdsurance solutions for athletes and to allow TokenStars to minimize potential risks while funding the junior sportsmen.
Aiming to disrupt a global celebrity management market topping $100+ billion, TokenStars works with worldwide-famous stars and aspiring celebrities to help them connect with fans and advertisers directly. The majority of stars already working with the project come from professional sports, associated with multiple risks on all stages of the athlete’s career.
REGA develops a risk sharing platform on blockchain where participants can unite in groups to protect each other. Crowdsurance, an alternative to traditional insurance, introduces a number of options for athletes wishing to protect themselves without involving insurance companies as well as for investors who fund the careers of young sportsmen.
Together the companies plan to create crowdsurance solutions for the sports industry and to introduce the scoring system for applications from junior athletes on the TokenStars platform.
“Since we started TokenStars and provided fans with an opportunity to choose aspiring talents who will receive investments to build a PRO career, we often get a question from token holders – what if a player has to drop out of sports due to health reasons? Protecting token holders is our key priority, and through the partnership with REGA we aim to minimize the risks while funding young athletes. And for the established sport stars we plan to introduce a personal insurance product, based on blockchain,” says Pavel Stukolov, CEO at TokenStars.
“We are sharing the vision of TokenStars to disrupt traditional industries using the blockchain technology. Crowdsurance is an innovative alternative to the algorithms for risk assessment that currently only insurance companies provide. We are thrilled to work on highly-specialized products to insure athletes and investors in sports industry, and hope to expand our community with celebrities who value the advantages of decentralized insurance solutions,” says Sergey Sevryugin, CEO at REGA.
“We believe that the partnerships such as this one set the tone for cooperation in this new space, and both parties will use this opportunity to further develop their business,” says REGA investor Igor Ryabenkiy from AltaIR Capital.
The details of specific products in development are to be announced later in 2018.
REGA’s Risk Sharing platform and crowdsurance projects unite communities in order to provide guarantee of compensation for unexpected loss. The first blockchain-based company to implement the concept of crowdsurance is backed by smart contracts on the Ethereum platform and a Super Pool capacity to cover risks for own and third-party products. Crowdsurance will finally become the community development driver rather than the source of profit from unrealized risk for insurance companies. Getting rid of intermediaries will make crowdsurance attainable and affordable.
TokenStars is a blockchain-based platform which connects rising talents and successful professionals in sports and entertainment with fans and advertisers. ACE and TEAM tokens by TokenStars provide the fans opportunities to interact with their favorite athletes and celebrities as well as to support their careers.