Preventing Fraud
With Patented Technology
Current State of the Sports Memorabilia Market
Leagues, teams, and players make money from the initial sale of merchandise, but none after that.
The FBI estimates that 50 - 80% of sports memorabilia in the market is counterfeit.
The burden is on the buyer to research the seller and verify the authentication of the item, which can deter buyers from making the investment.
Digital Data Token market collectibles
is the fasted growing segment with a CAGR of 14.2% during the forecast period
Examples of How Sportafi Can Eliminate Issues Concerning Fraud
By linking collectibles to digital tokens, there is no question of authenticity or ownership.
Collectors still maintain ownership, even if an item is lost or stolen. Collectibles cannot be sold without the authenticating token (Data Token).
Requirements for verification of time, location, biometrics, and unique identifiers prohibit the addition of counterfeit items to the platform.
Memorabilia items are matched to the corresponding manufacturing facility during asset verification and creation.
Removing the item identifier makes the item worthless. It’s impossible to create a duplicate digital asset due to the time, location, and biometrics requirements from the genesis data on the blockchain.
Fraud Prevention
Immutable Ledger Technology prevents counterfeit time records from being created.
Sportafi kiosks are GPS anchored, making it improbable to forge
location records.
Biometrics for authenticating parties (owner, official, athlete, authenticator, etc.) are registered.
Without a digital token linked to it, the physical item inherently has less value.
All items linked to digital tokens are stored in the immutable blockchain database and can be viewed by any interested party, creating transparency in the market.
Accountability & Transparency
Companies and officials put their reputations on the line when authenticating items. Once an individual is found to be authenticating fake items, all of their credibility is lost.
Sportafi is a database of all authenticators and items accessible to all prospective buyers, bringing a level of transparency and accountability never before seen in the sports memorabilia world.
Memorabilia are assets and should be treated as such. Sportafi uses patented hardware and software to register, verify, and exchange sports collectibles on the blockchain.
How Sportafi Changes the Game of Sports Memorabilia
Sportafi’s patented software and hardware platform links sports memorabilia and collectibles to digital assets, creating an immutable digital asset that becomes the token or key for the verification of the object. The token and physical object are then inextricably linked. Sellers must have both in order to complete a transaction. One without the other nullifies the transaction.
Unique, tamper-proof identifiers, like the RFIDs already found in NFL footballs, act as the link between real-world objects and the blockchain. This link makes it easier to authenticate a collectible and harder to create fake memorabilia benefiting the players, teams, leagues, and fans.
These security features will all but eliminate fraud in the marketplace. It’s nearly impossible to create a duplicate digital asset due to the requirements of time, location, and biometrics from when the item was authenticated or registered. Time is immutably recorded on the blockchain, with the kiosk acting as the GPS anchor. In addition, the biometrics of the owner, official, authenticator, and player are all recorded.
Because of this, owners are able to maintain ownership, even if an item is stolen or lost. The physical item cannot be sold without the authenticating token (Data Token), and vice versa.
Reduced Fraud
Sellers must have the digital key and the collectible to prove authentication in order to receive payment and transfer to the buyer’s wallet, eliminating any question of whether the collectible is genuine.
Enhanced Security
Sportafi adds never before seen levels of security by linking physical objects to immutable records of time, location, and biometrics, making fraudulent activity nearly impossible.
Safer Market
Currently, the burden is on the buyer to do their own research to determine if the seller is trustworthy and if the item they are selling is authentic. Sportafi brings truth and transparency to a marketplace that has long been overrun with fraud.
Historical Data
From the digital asset genesis or creation data to the current ownership, every change of hands is immutably recorded on the blockchain and available to be viewed by any prospective buyer.