Anyone reading this knows that the market for digital currency is overflowing right now. More and more people are adopting this new way of currency and new coins come out every single day. Most of these coins are just people trying to make a quick buck, but some of these coins have real meaning and potential behind them. I have been developing my own coin and also a brand that goes behind it. I am developing a coin that can be used in the extreme sports industry, wakeboarding specifically. The coin is called Shreditz. Everyone is familiar "proof of work," well Shreditz are "proof of progression."
Summary
Shreditz is a micro-enterprise – a Limited Liability Company (LLC) and is owned by (me) Jay Piper. Shreditz are distributed out of Orlando, Florida. Shreditz reward tokens are CounterParty assets based on Bitcoin technology and were designed specifically for the world of wakeboarding. Most digital currencies, bitcoin included, depend on proof of working( POW) to produce or find new bitcoins. Shreditz are based on "proof of progression”— or POP for short —in the sport of wakeboarding. Wakeboarding is the fastest growing water sport in the world, from Europe to Australia. Now that the number of participants in the sport has exploded, the door is open for sponsors and technologies like Shreditz to take it to the next level.
There are over 3.65 million wakeboarders in the US alone. There are over 230 wakeboard parks in the world and 75 in the US. Cable parks allow more extreme riding for wakeboarders. My goal is to form an alliance with these parks. Clearly from the saturation of Parks not only in the U.S., but worldwide, there is undoubtable a market for such a concept as Shreditz. Being awarded for progression at these facilities will be very simple with digital wallets for Shreditz that transmit worldwide as long as you have internet or phone service. The Shreditz reward system will increase awareness of the sport and inspire others to try wakeboarding. Shreditz has the ability to impact the rising
sport dramatically. Riders will be rewarded at these parks by Shreditz team riders when they progress. Riders can complete our survey, which ranks them as a wakeboarder, and earn their "starter" Shreditz. They can then use them for their first discount. They can then earn more as they progress to help discount their riding costs even more. Wake Parks and wake schools will benefit by repeat customers and have an easy method of being able to reward regulars for their progression. Shreditz has potential to be so much more. Just imagine if every extreme board sport adapts this coin. Snowboarding, skateboarding, surfing, etc.
Strengths
The Shreditz system will help the sport of wake boarding grow. Shreditz will benefit cable parks and wake schools all over the world by making more riders want to come and progress.
Weaknesses
Without the alliance of cable parks, Shreditz will not work. Three out four startups launched today fail. Another risk is the continuing lack of mass market. Three out of four Americans haven’t heard of six-year-old cryptocurrency. Finding the “secret sauce” to make cryptocurrency go mainstream is the challenge. Digital currency is a bit too high tech for a
lot of people to consider using it.
Opportunities
Once one cable park has adopted Shreditz others will follow. When parks realize how much their clientele will shoot up because of our system, they will join us. Online market places like Overstock, Amazon and Etsy are now accepting Bitcoin and the list continues to grow. Shreditz convert into Bitcoin so over time Shreditz will be spendable everywhere.
Threats
The cable parks may take the idea and try getting their own reward system created based off of Shreditz. The crypto market has new coins everyday. Someone could come along with a similar idea and ruin the market for our coin. As of now Shreditz is the only coin of its kind.
Market Analysis
Primary Market — Wakeboarders
Over 3.65 Million in US alone
About 1 million 6-17 years old
About 680,000 18-24 years old
Active and extreme sports lovers
87% Male
27% Some College
24% College Graduate
41% Students
16% Professional
15% Technical
8% Sales
3% Not Employed
Secondary Market — Crypto Users
Newbie and Savvy
Driven by curiosity and profit
Over 1.4 million users
Average age is 32 years old
44% have full-time job
56% In a relationship
96% Male
62% Non-religious
Competitive Analysis
Competitors in the wakeboard industry will be board companies like: Slingshot, Liquid Force, Hyperlite, Obrien, CWB and Ronix. All of these brands have their own wakeboard line and apparel. They also sponsor competitions and pro riders. Other brands that sponsor wakeboarders and competitions are: Oakely, Fox Racing, Monster Energy, Rockstar, and SPY. Shreditz will have a brand just as these companies do and will sponsor riders and competitions. We are not like other brands though because we give away free coins to riders of any skill level. Progression is our main focus and none of these brands focus on that. Other brands require sponsorship to receive anything. Bitcoin is by far our biggest competitor. Bitcoin was the first digital currency and as of now holds the highest value in the crypto world. However, Bitcoin is only obtainable by mining it or buying it. In the last year, the price of Bitcoin has ranged from over $1100 USD to under $600 per coin. Yes, you have the chance to profit through speculation, but you could also lose a lot of money. Bitcoin is based off of Proof of work (POW) while Shreditz are proof of progression (POW). Shreditz is the first coin of it’s kind.
Market Strategies
Pop up display
Rack cards & rack brochures
Informative video
Sponsored Competitions 10-15/year
Give aways — 7 million coins through proof of progression
Minimum of $.05 cents each to reach a market cap of $500,000
Give-aways — 73% to wakeboarder (will increase users of digital currency and the value will rise)
Free mobile wallet for android or iPhone
Vendor-redeemable Shreditz — At least $.05/coin, for up to 10% of the purchase. If value is more than $.05 per token market price takes over and the 10% limit is removed
Kickbacks from Vendors for bringing repeat/new customers (5%)
Initial buy in at 400,000 coins
Brand Wakeboards, T-shirts, Tanks, Board shorts, Decals, Snap-back Hats, Riding Jerseys, etc. for sale at wake parks and sports retailers
Posters at cable parks
Advertise monthly in Transworld Wake and Alliance Wakeboard magazines and on their websites.
Celebrity endorsement — Jeff Langley, the known industry leader, is the face of Shreditz
Distribution:
10,000,000 Shreditz will be created and distributed as follows:
800,000 - PRIVATE-Pre-Sale-ANGEL INVESTORS-To raise 4 BTC ($ 1000.00 approximately) to sponsor Rider/s and buy jersey/s.
500,000 - Public Crowd Sale ($10.00 per 1000) to further Fund Project: (raise $5000.00) National exposure/acceptance as a sponsor and/or payment method at Cable Parks Worldwide
300,000 - Survey participant coins
7,500,000 - Proof of Progression
100,000 - Facebook giveaways
100,000 - Twitter giveaways
Bounties:
Marketing Promo - 100,000 Shreditz
Big Exchange - 100,000 Shreditz
Medium Exchange - 50,000 Shreditz
Leaves 450k Shreditz unaccounted
Success Analysis
Once we have angel investors or venture capitalists on board, and the pubic crowd sale has reached it’s desired limit we will be ready to launch. Lunching the coin with a solid value will help it rise quickly on the market. We have signed one of the top riders in the industry, Jeff Langley. Now all we need is the parks to back us and once they are
on board, Shreditz will explode. As far as the brand goes, Shreditz will be successful once our team has been built and we start winning competitions. Seeing our sponsored riders at the top will help apparel sales tremendously.
I have already designed the logo for Shreditz and also a wakeboard. I am currently coding the website. Please help me make this idea a reality. Shreditz pushes everyone, no matter their skill level to be a better wakeboarder. It is a reward system that is for any and everyone. Next time you go wakeboarding, if you are a wakeboarder, just think to yourself...I could be earning Shreditz right now!
