Sportex Announces Incoming Collaborations For its Social Media-Marketplace Hybrid App
London, UK, July 15, 2024 (GLOBE NEWSWIRE) -- Sportex, an e-commerce and social media solutions provider with a focus on the football industry, has announced that it will be onboarding more high-profile collaborations to its ecosystem in the coming months. This will expand its network throughout Europe and bring the benefits of its app to more fans.
Sportex as a company specializes in developing custom apps which are a hybrid of social media platforms and marketplaces for football teams. On the social media side, fans of specific football clubs can create profiles, upload content and connect with others, whether one-on-one or in dedicated communities. Many football fans already connect on generalist social media sites but Sportex is giving them the opportunity to connect via a platform made specifically for them.
The other half of this equation is the marketplace, which allows merchants to list products and services that fans can choose to purchase. In a similar vein to your typical e-commerce platform, Sportex takes a commission from each sale, currently averaging 12%.
At the heart of this is the SPORTEX token, a Polygon-based asset that underpins transactions within the app such as paying transaction fees. Ownership of the token also gives users access to voting rights and can be used to access premium features. On the backend, the SPORTEX token has served not just as a means of fundraising but is the medium through which the team members are compensated.
The honing in on the football market is a deliberate choice because, as Sportex management has noted, most football fans are loyal to a single team for life. This, in turn, means that they will be loyal to their team’s app for life, rare if ever using that of a rival team.
This business model has proven to be successful thus far, with Sportex boasting over 30,000 profiles on the app and over 5,000 transactions, with an average spend of 65 euros. Football teams have also taken enthusiastically to the app, with 6 teams in Romania testing the app. Now, Sportex has announced that it is in discussions with a horde of international teams such as FC Barcelona, Manchester City, Inter Milan, and so on.
Sportex expects to announce new partnerships in the coming months, expanding both its app reach and the number of fans that can benefit from its unique features.
About Sportex
Sportex is an e-commerce and social media solutions provider with a focus on the football industry. Combining the power of digital communications platforms, e-commerce, and blockchain technology, Sportex has delivered a wealth of benefits to football clubs and thousands of their fans across Europe.
Media Links:
Website: https://www.sportex.run/
Twitter: https://x.com/SportExRun
Telegram: https://t.me/SportExRun
Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.
Marius Tudor business at sportex.run
© Copyright Globe Newswire, Inc. All rights reserved. The information contained in this news report may not be published, broadcast or otherwise distributed without the prior written authority of Globe Newswire, Inc.
