433 Token FAQ

Why Soccer?

  • At Soccer Legends Limited, we love soccer and we want to improve soccer, especially the fans experience.
  • We are also Blockchain enthusiasts. We want to promote the technology, with soccer we can reach 3+ Billion fans.

Why Blockchain?

  • With Blockchain technology, all data and information are transparent and reliable.
  • Every soccer fan in the world with internet connection and 433 token can participate, no need to go through intermediaries or have bank accounts.
  • Smart Contracts make sponsoring, voting and bidding possible and trustworthy.

How many tokens are there? Can it be mined?

  • There will be a total of 1 Billion 433 tokens. This is the maximum supply and there will be no “mining”.
  • 30% of which (300 million) will be offered to public at the upcoming token sale.
  • We want to keep it simple for soccer fans, who may not have technical know-how to “mine” tokens. Not to mention access to equipment and electricity.
  • We want 433 tokens to be used by soccer fans, not hoarded or stored away by crypto giants/mining farms.

Why only 30% of tokens are there for public sale?

  • Out of 3 Billion soccer fans on earth, we figure that 10% of them (300 million) will be interested in 433’s utilities, so there are 1 token available for each of them.
  • If 433 tokens are too popular, we might consider release of more tokens to the public from Reserve (35%). But we don’t have this in our plan at the moment.

Why US$0.09 per token?

  • Price is not our main concern, but liquidity is. We set price at this very low level, aiming at involving as many soccer fans as possible.

Why US$27 million Hard Cap?

  • Two main reasons why we need that amount.
  1. We have top tier Legends in the 433 Ecosystem, not only as a spokesman, but they actually participate. And we anticipate a lot more Legends joining us.
  2. Scalability
    • The 433 Ecosystem is actually very scalable. “Sponsoring” can extend to current players, or even clubs and leagues.
    • “Voting” can definitely extend to other leagues, clubs and soccer organizations, to help them make better decisions.
    • Apart from the 3 Major Utilities, other non-gambling utilities could also be developed in the future for soccer.

What will happen if the Hard Cap is not reached?

  • We will continue to work on the project with our seed capital, and explore other fundraising means.
  • We are very confident that we will eventually succeed, as the global love for soccer is enormous.

When can we use the 433 token utilities?

  • 433’s minimum viable product (MVP), which is the voting module, will be functional in the 2nd Quarter 2019.
  • All 3 utilities, are planned to be fully functional by 2nd Quarter 2020.

What are the criteria in selecting a Principal?

  • The selection criteria are the same as those for GLS players:
    • Won the World Cup, OR
    • Won the European Championships, OR
    • Won the Champions League, OR
    • Played 50+ times for their country.
  • Since a Principal will deal with youths, we also emphasize Good character and Healthy reputation.

For special event Auction, how many will there be in a year?

  • The plan is to hold auction for a maximum of 12 events per year (could be more if we have more than 12 Principals).
  • A Principal is not required to come up with any event, but at most he can auction 4 events within a year.

There are many other soccer-related ICOs. What is your Unique Selling Point?

  • We believe we are unique in the following sense:
    1. The soccer Legends (like Mr. Shevchenko) will truly participate in the 433 Ecosystem. They are Principals, not spokesmen. They will shoulder true responsibilities and perform meaningful duties. In 433 token, they see an opportunity to build a new legacy.
    2. While soccer legends found great meanings in participating in 433, actually, our main focus is on soccer fans.
      • 433 is designed for soccer fans, not for other sports (or all sports), not for big name clubs or commercial sponsors (selling tickets or merchandise),
      • We are very focused in bringing soccer fans what they want. Because we are part of them. (i) We want to participate in developing the next superstar. (ii) We want to interact personally with our soccer heroes, and (iii) we want to be heard in soccer decisions.

Are you a foundation? Or a NGO?

  • No, we are not. Soccer Legends Limited, the entity which runs the 433 project and offers the 433 tokens, is a privately owned company registered in British Virgin Islands.
  • As stated in the whitepaper, upon reaching Hard Cap, a foundation will be set up to support under-privileged youths, retired and current players, as well as Professional Footballer Associations in different countries.