Abu Dhabi’s Dhahab Sports announces IDO of its utility tokens

    17 May 2022

    Dhahab Sports Management, a sports agency headquartered in Rio de Janeiro and Abu Dhabi, UAE and focused on career management of high-performance soccer talents, announced an IDO to distribute its fan tokens Dhahab Sports (DHS). The project also appointed Marcus Assunção, a former professional soccer player, as the brand ambassador and has plans to issue its own crypto wallet and NFTs.

    The sports industry has recognized the potential that cryptocurrencies and blockchain technology provide to monetize fan involvement further, attract sponsors, and engage a global market in previously imagined ways. Passionate fans, each a digital technology citizen, consume sports and related material beyond the period of a contest. Teams, clubs, and athletic organizations are innovating to thrive in the new digital era and fulfill fan expectations.

    With a focus on career management, Dhahab Sports Management is a sports agency run by sports experts that represents high-performance soccer talent at all levels of competition. In addition to over eight years of expertise, hundreds of international transfers have taken place with the top clubs in the Americas, Europe, the Middle west, and Asia.

    Dhahab Sports (DHS) is a utility token that democratizes relationships in soccer, bringing unique and scalable opportunities to sports lovers, athletes, sponsors, investors, and more.

    Dhahab Sports executive board has experts in physical education, postgraduates in sports training, and a variety of other complementing courses in the sports, bodybuilding, and educational fields.

    The platform has partnerships with multiple soccer schools in various nations to engage with grassroots athletes while also providing advice to the finest clubs and businesses in the world. Dhahab Sports’ portfolio consists of 21 high-level athletes managed through two offices, one in Rio de Janeiro and the other in Abu Dhabi, United Arab Emirates.

    Currently, Dhahab Sports is in the IDO phase, which indicates that its crypto token offering will be conducted on a Decentralized Exchange (DEX). Liquidity pools (LP) are essential in IDOs because they provide liquidity after the sale of the assets. A typical IDO allows users to lock funds in exchange for new tokens during the token creation event. Some of the funds raised are combined with the new token to create an LP before being returned later to the project. IDO will provide a low-cost and easy method for Dahab Sports to distribute its tokens.

    To promote the project, Marcus Assunção, a former professional soccer player from Brazil, has been appointed as the brand ambassador for Dhahab Sports. He is a center midfielder and was formerly known as a free-kick expert of international fame. He represented Brazil at the international level on eleven occasions between 1998 and 2000.

    According to the project’s whitepaper, Dhahab Sports plans to issue its own crypto wallet, NFTs, and conduct the metaverse events.

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