Fanstake is a competitive recruitment platform where fans can contribute to an athlete's endorsement deal. What's really unique about it is that it's no risk - If the athlete ends up on your team's roster in the successive season it converts. If not you get your money credited back to your account.
Fans select their teams of choice, and they can "stake" recruits, portal transfers or current players that they would like to see play for their team in the next season. Fans can choose any dollar amount, and that amount will be "locked" in the players account until a decision is made. If the player chooses your school, your stake is released to the player. If the player chooses another school, your stake is returned back to your account.
The real value of Fanstake is fanbases coming together to build and retain the program they, as fans, really want. Think of it as support at the true grass roots level, but the difference versus traditional "fundraising" is fans now have influence on the composition of their team.
This is an important nuance and distinction. You are paying Fanstake for our services. You are not directly paying the athlete, nor is this a donation. The amount that is established by the competitive fanbases gives us and the athlete a transparent fair market value for the deal, and Fanstake will offer deals in that range, depending on the sponsorship specifics. Fanstake's platform and service fees includes all engineering and operational costs, significant marketing to engage national fan bases across the country, and dedicated personnel for procuring and creating unique endorsement deals for every athlete on the platform.
From a fan's perspective, however, all you have to worry about is who you want us to endorse and for what team. Fanstake only refunds your payment if we're unable to deliver on that endorsement. In other words, if the athlete isn't associated with your chosen team, or doesn't want to do the endorsement - your payment is refunded to your account as a credit. From there, you can choose to Stake another player or return the money to your original source of payment (less third party payment transaction fees).
This is the exciting part. Fanstake has the ability to change the game in a positive way for all parties.
1. Colleges are heading towards an environment that will be good for some, but undoubtably painful for others. While revenue sharing is a good start, the implications of revenue sharing means that it can be highly disruptive to the ecosystem as it stands. Only certain schools can participate, meaning there will be massive discrepancies between power conference schools and the rest of division one. The premise of Fanstake is built on democratization and fan participation driving competitiveness and an even playing field for all schools. Those that do have money for revenue sharing can offset costs through fan participation, and therefore not be required to make drastic cuts like the proposed elimination of "olympic sports." And those that can't participate in direct rev share still have the ability to compete if you can activate and engage your fanbase. The transparency and free market dynamics bring a democratized college landscape where it's not just the haves and have-nots.
2. The NCAA continues to remain exposed to legal challenges even if the newly established House settlement is adopted. They are still dealing with a patchwork of state laws that supercede NCAA bylaws, and remain in violation of Federal antitrust laws. Fanstake offers a path towards a collective bargaining agreement - the only true sustainable path forward - whereby athletes can agree to negotiated rev share coupled with open NIL opportunities and fan funded endorsement campaigns to reach their true market value. This type of agreement would finally put the NCAA on stable footing for generations to come.
3. Athletes finally have the ability to earn their fair market value. Note that in many cases this may simply be a scholarship - but it's the competitive market that should define that, and that's what transparency brings. Moreover, Fanstake endorsements provide incentive to stay in school longer, get your degree, and ultimately play for the program that best meets the athlete's needs as a professional and as a student. We expect to see a new generation of dynasty teams where pro-level players are staying 3-4 years, and increased parity across all sports and schools through continued NIL distribution (something that has already started).
4. Lastly, Fans get to play a more direct and vital role in supporting the programs they care most about. We like to think of this piece as democratizing the GM role, where every fan has a fractional vote on who they can and should have on their team. Ultimately, it's the coaches who will offer roster spots, lead the recruiting and determine the makeup of the squad - but fans can finally support in a way that is risk-free and hugely influential.