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  • The concept of crowdfunding has been largely concerned with the raising of funds by companies so that they may more easily develop and market new products and services.  Sports platform Sqor, Inc. wants to flip the script on the traditional crowdfunding model and allow individuals to fund individuals as opposed to companies.  Specifically, Sqor is interested in allowing people to fund their favorite athletes.  It aims to accomplish its goals through a new accessory on its existing editorial and social platform that will easily allow athletes to raise money for entering tournaments, buying new gear, covering training expenses and any other item related to an athlete’s custom campaign.  More established current and former athletes, including quarterback Brett Favre (a member of the Sqor Board of Directors), plan to use the newly introduced crowdfunding capacity to raise money for charitable efforts.

    Sqor’s crowdfunding initiative is essentially a Kickstarter for athletes in all walks of life, from those turning pro and needing monetary assistance to others who have established a level of financial security and seek to enhance their philanthropic efforts.  It begs the question, if Kickstarter already exists as a respected platform for raising money in a variety of circumstances, why is there also a need for a new sports-specific crowdfunding platform?

    “If you look at something like Kickstarter, they handle the concept of crowdfunding.  Twitter handles short messages to people.  We are a premium product for athletes that focuses on monetization opportunities,” said Sqor CTO Noah Gift.  ”As one of those opportunities, we have crowdfunding.  For the athletes that don’t have large socialgraphs, we are creating opportunities through crowdfunding.”

    Gift’s approach appears to be more focused on the fledgling athlete who can use the support of the crowd as he or she goes from being an amateur to a professional in his or her respective sport.  If athletes are able to effectively pitch potential donors, it could serve as strong assistance to amateur golfers, U.S.-based soccer players, Mixed Martial Arts fighters and many other athletes in sports and leagues that do not guarantee a great source of income for all participants.

    Courtesy :  Darren Heitner :   He is a lawyer and the Founder of South Florida-based HEITNER LEGAL, P.L.L.C., which has a focus on Sports Law and Entertainment Law.

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