September 19th, 2018
October 31st, 2018
Minimum investment amount:
Number of tokens available:
November 1st, 2018
January 31st, 2019
Number of tokens available:
Main TEC (crowdsale) rate:
US $0.10 = 1 WBX
What is WOOOBux
WBX is a utility token, created to promote and incentivise active play using the benefits and ease of digital currency, but solely for grassroots sports. Leveraging the WOOOBA Sports API with integrated blockchain BiT technology (Blockpool), sports players, brands and any organisation or club, will be able to reward and be rewarded for their real life sports play, based on parameters like geo-mapping and participation. WBX injects value into physical activity, sport by sport, growing the both the worth of the cryptocurrency and the player’s efforts, making digital rewards standardly accessible for everyone’s life. Cryptocurrency is a relatively new and exciting concept but is often beyond the technical reach of most people’s common knowledge. This blockchain technology developed by Blockpool and adapted to grassroots sports by WOOOBA, has been curated and nurtured with the goal of everyday and widespread use; banking and monetary services are often overly complex and less accessible, so WBX is aimed to be a simple reward and incentive to get people out and actively playing sports.
WOOOBA will also contribute 1% of all WBX sold to sports charities.
WOOOBA (World One On One Basketball Association) provides a platform that effortlessly aligns with blockchain/token technology and provides a reward driven system for playing sports, that is unique yet practical in solving offline sociability problems for casual sports, both in the UK and Worldwide. The WOOOBA platform offers the over 500 million global basketball players, and soon the almost 400 million global football players, a free platform to create their own sports profile, invite or challenge others to play their sport, create games (or even create their own new private court/pitch) on the Google map in which they can invite others to play on. Each profile comes with a WOOOBA Wallet that allows the player to collect fees from their peers, automatically. Players can be connected, visible and online; then go play offline and organise pickup games or practices without a flurry of emails. Know who is a no-show and who’s going to show-up. In the world of indoor pickup games, usually one of the players is the main scheduling organiser who has already paid for renting an hourly sports hall/pitch (or could be hosting a tournament); they can collect the money, to get paid back from people they invited, using the WOOOBA Wallet. The TopUp function of the WOOOBA Wallet will also act as the perfect method to add/purchase a digital currency in this ecosystem.
Furthermore, applying a Wallet as a rewards vehicle to grassroots players, for more active and real sports play, is the ideal conduit to enable brands to engage and inspire users on a far deeper level than traditional channels, acting as a type of “grassroots sponsorship” approach that WOOOBA has been designing. While the world of mobile devices exponentially grows the access, impulsive call-to-actions and tactile excitement for daily sports engagement, adding a purposeful digital currency as a reward for playing sports and getting more people active, creates the ultimate opportunity to empower us all.
WE’RE ON A MISSION TO HELP THE WORLD
PLAY MORE SPORT
WOOOBA already delivered a best in class basketball product, is re-launching a new/improved fully responsive basketball platform and will be adding it’s football (soccer) platform in 2018 Q4. The current structure of the WOOOBA offering is perfect for a blockchain enabled token system with WOOOBux as the core blockchain, expanding a true rewards ecosystem to anyone who aspires to play casual sports. The Blockpool delegated proof of stake system (DPOS) is very flexible and will be utilised to deliver both financial benefits, as well as new and ever expanding creative initiatives. This places WOOOBA as a leading innovator in helping people play for health, rewards and socialising.
USE OF FUNDS
WOOOBA Basketball & Football
Use WOOOBux to collect as payment for your Pickup Game.
Create your own basketball profile, then search to find more places and people to play. Don’t see a court on the Map that you know? Click and Create a private one and invite your friends to a Pickup Game there!
WOOOBA keeps your basketball life connected, visible and online; then go play offline. Organise your pickup games or practices without a flurry of emails. Know who is a no-show and who’s going to show-up.
From the couch to the court, we make organising your favourite sport, as fun as playing it.
Create your own football/soccer profile, then search to find more places and people to play.
If your favourite pitch isn’t on the Map, just Click and Create a private one!
Use WOOOBA to keep your football life connected, visible and online; then go play offline. Invite your regulars to a 5-a-side, any number-a-side or, just send out an open invite for a match or a practice without a flurry of emails. Know who is a no-show and who’s going to show-up. Automatically get paid back from your friends for your pitch rental, by just adding a fee to your match invite; the WOOOBA Wallet transfers your fee from your player’s wallet, to yours.
From the couch to the court, we make organising your favourite sport, as fun as playing it.
WBX REWARD ZONE
Directly Dispersed Reward
Organizations, schools or individuals can purchase WOOOBux as rewards for their members, students or children to pay towards game fees, encouraging them to play more sports.
Participation Based Reward
Instead of a direct distribution, participation based rewards add goals such as location or time. Meaning players need to be at a specific location or spend a period of time as a location to redeem the reward.
Distributor & Receiver
Brands ⇒ Consumers/Players
Organizations ⇒ Members
Schools ⇒ Students
Companies ⇒ Employees
Parents ⇒ Children
Court Owner ⇒ Customers
Anyone can purchase WBX with both standard currency and certain other cryptocurrencies. When desired, WBX can be paid out into cryptocurrency, then into standard currency:
Distributors will be able to set up the specifics of their reward, such as the amount of each reward, the number of rewards and time/location goals. User can see what rewards are available on the map, and must enter the Reward Zone to collect rewards:
User can see what rewards are available on the map. They must then enter the reward zone to collect location based rewards:
A sports brand such as Adidas can create a WOOOBA profile, purchases 100,000 WBX to disperse to 1,000 Wimbledon High students to incentivise them into more grassroots games. Each girl gets 100 WBX in their WOOOBA wallet to use towards paying for extracurricular games. WBX ticks the box for Adidas’s Corporate Social Responsibility goals & Marketing goals.
Wellness companies such as Vitality Health may create a profile on WOOOBA, purchase 2,000,000 WBX using their Wallet, then invite 10,000 people from their email database, to a free event or game, to draw them into more grassroots play. Each person who signs up, then shows up to the event gets 200 WBX auto-added their WOOOBA wallet. WBX distribution strategy enhances a unique Vitality Health Corporate Social Responsibility approach to growing grassroots sports & boosts marketing power.
Jake’s mom buys 1,000 WBX for her family of five to drop into their Wallets to pay & play in grassroots games. She gives 250 to each of the kids; her and dad get 150. It pushes everyone in the house to get out and play a couple of times that month. She then adds a smart contract to the kid’s Wallets, that earns them 200 WBX bonus each if they play one extra match or practice every month. This makes everyone in the get more practice time and matches.
Puma could purchase 100,000 WBX for a local basketball club to distribute as rewards. They could offer 100 WBX as reward to each of the first 1,000 players who spend 1 hour or more at chosen courts at various sports halls. Puma’s support to sports clubs could become a regular, transparent CSR fitness initiative.
Brands can reward users for subscribing to them as the sponsor displayed on the profile page. Reward can be dispersed weekly, monthly or yearly. Different rewards could apply for different brands. WBX could also be used for online shopping reward and payments.
Different brands could reward players with WBX, for a period of time for subscribing to the brand’s challenges; for example, Nike could rewards users for subscribing weekly, monthly and yearly, whilst sending the player a variety of challenges.
MEET OUR TEAM
Frank is a co-founder of Shinetech and has been with the company since 2001. He has been directly involved in both the management and technical aspects of many large projects. Frank also held the CTO position for 8 years and helped build the core IT system.
Prior to joining Shinetech, Frank served as the technology director at eNet Ltd, where he led an engineering team to design and develop the first mature e-commerce platform, as well as a cutting-edge content management system in China.
Frank is a Certified Scrum Master and a true believer of “Great software starts with great people.” He holds a BS degree in science from Beijing Institute of Technology. In addition to his laptop, Frank’s bag usually contains a badminton racquet. He is a very talented player and the founder of a badminton club with more than 250 members.
Specialties: IT Strategy & Architecture, Software Design and Development, Systems Architecture, Business Intelligence, System Integration
MORE ABOUT WBX
A Simple Explanation of Cryptocurrencies
The cryptocurrency; crypto tokens and other digital assets based on blockchain technology are currently experiencing an explosive growth period. Blockchain technology allows the first true globalisation and decentralised store of value, and recently, the adoption rate has meant explosive growth in both adoption and speculative value.
2017 started with Bitcoin as the number one cryptocurrency with a market capitalization of 12 billion US dollars. Ethereum, a very young upstart of a currency was valued at just 700 million USD. The explosive start to 2017 has seen Bitcoin surge to a market capitalization of over 40 billion USD and Ethereum has caught up at an incredible pace and now has a market capitalization of over 28 billion USD.
Blockchain, the technology that acts as the foundation of Bitcoin and a majority of other cryptocurrencies, can potentially reinvent how numerous industries operate and bring positive changes on a global scale, advancing the principles of transparency, efficiency and accountability. The fact that Blockchain technology has been around for more than 10 years with no fundamental flaws, an exponentially growing list of applications, and a dynamic ecosystem that is constantly pushing the technological limits is a testament to its potential.
There are more than 1,500 coins and tokens currently being traded on exchanges. Under the BNC General Taxonomy, it’s clear that all cryptographic assets can be segregated into different categories based on their applications and the variety of use-cases they were intended for.
The delegate system is very flexible and can provide a very profitable way to develop the projects in a controlled and predictable manner.
For example running the numbers based on the figures in this white paper, we can insert metrics to show us the potential value of forged tokens post TEC.
With a fixed block reward of 10 coins/tokens and 15 second block times, an additional 21.024 million coins would be forged each year. If the initial value of 10 cents were maintained this would result in just over an additional $2 million value generated by all the delegates combined each year. ($2.1024m).
The figures can be adjusted according to the specifications thus are presented as an indication of value only. Other values can be added to the online tool to show variations on these metrics.
We have established that the ecosystem to support these projects can provide substantial rewards for coins/tokens that have value and purpose. Some currencies (e.g Bitcoin) have very limited value over and above a monetary transactional system. One of the ideal uses of Blockpool technology is the ability to develop smart contracts, sidechains and myriad creative initiatives that add value to each project and consequently increase value in the coins/tokens.
Technology Provided With Project
The underlying technology behind all cryptocurrencies
2. Web app based wallet
Allows access to WBX with zero tech knowledge
3. Delegate Forging Pools
Allows non technical people to gain portions of WBX easily through scaled rewards.
4. Desktop Local Wallet
Allows a completely secure, unhackable, offline wallet to be created
- Windows wallet
- Mac wallet
- Linux wallet
5. Blockchain explorer
Used to verify payments and examine the blockchain
6. BiT API functionality
Blockpool backend platform to drive blockchain functionality.
7. MyBlockpool integration with WOOOBA platform
Connecting the backends API’s of Blockpool and WOOOBA.
8. Delegate monitor app
iOS and Android
9. Delegate infrastructure
Creation of the original 51 WOOOBux Delegates and any further community delegates.
10. Delegate reserve for network stability
Queuing system for delegates.
Cryptocurrencies often have relatively low coin numbers. For instance, Bitcoin only has a maximum of 21 million coins. What this means is that the whole coins tend to have a large value and thus real world transactions for small amounts of money tend to appear as an odd sum. Some blockchains have 10-50 billion coins and so it is really important to consider end use cases before deciding on the initial coin supply of the genesis block. For instance if you bought your breakfast with bitcoin at the moment, paying 0.00069 bitcoin would be a little bit confusing. However, for example, a football or basketball player paying back his peer for a game at a rented sports venue (that the other player had prepaid on) would be on average about 100 WBX ($10). So, WBX are launching as:
Initial Token Supply = 100 Million.
15% reserved for roadmap development
30% reserved for brand initiatives
52% available through TEC
2% will be used for bounties and rewards.
1% will be donated to sports charities.
For a TEC with a fixed price per token of 10 cents this would gross approx. £7.2 million (less any possible discounts).
Additional tokens/coins are forged by ‘delegates’ who stabilise and secure the network. The number of delegates can be 51, 101 or 201. Blockpool allow these delegates to be hosted by the client (or alternatively provide the option of a secure infrastructure to maintain delegate nodes on behalf of the client).
Suggested Technical Specification
Name of coin: WOOOBux
Initial Coin Supply: 100 million
Algorithm: Delegated Proof Of Stake (DPOS)
Block Rewards: 10 coins per block
Block times: 15 seconds
Distribution: TEC plus Forging & Creative Initiatives
The potential for significant TEC participation is huge, from institutional/business investment through to aligned brands and WOOOBA platform users.
A suggested TEC roadmap/timeline is presented below:
Confirm SEC/Howey compliance (see appendix A).
Finalise creative initiatives and coin value.
Commence work on TEC platform.
Announcement/PR; make a % of coins available at a discount to initial price.
Finalise white paper and coin specification/delegate roles.
Commence development and coin build
Final Blockchain for WOOOBux Coin (WBX)
Open TEC for institutional investors (private platform) with discount
offer discount on tokens for WOOOBA community
Open sale for remaining tokens.
Delegates already forging
Creative initiatives commence.