AVARC ICO — Initial Coin Offering — seeks to raise US$ 1 million

March 2018 · 1 minute read

There is currently no effective marketplace for creatives in the sports apparel market segment. Indeed, incumbents such as Nike, Adidas, Under Armour, Asics among others control not only their designs and quality of sports apparel and ensemble but also dictate what markets they serve, at what price points. In so doing, low and mid income groups in the developed world and emerging markets are excluded. Unserved markets end up with not only used and environmentally unfriendly material but also cheap and low-quality knock-offs.

AVARC proposes to disintermediate a decentralized sports marketplace where creatives, ideators, artists, computer programmers, sports scientists can unlock value for participating in the creation process of sports goods and services. The aggregation of creatives in a decentralized marketplace facilitates development of ensemble from where the best and most relevant creations are chosen by a community. Subsequently, they are pushed into production at given specifications. The talent pool can also create ancillary sports-tech-based services not limited to physical fitness, monitoring and tracking, without relinquishing their intellectual property, yet rewarded. The market is facilitated by the AVC token through which creators are rewarded and through which peer-to-peer transactions within the network are enabled. The value of the marketplace increases with growth of users and their creative outputs.