Another Startup Is Trying to Sell Shares in Athletes’ Future Earnings
“We are basically building a mini Robinhood,” Agentiq’s cofounder tells FOS.
Another startup, Agentiq, aims to sell shares in athletes' future earnings, addressing the shortcomings of previous attempts. Founded last fall by Zach Kurtz and Reuben Abraham, the company has secured roughly $4 million in venture capital backing and operates under the supervision of the U.S. Securities and Exchange Commission.
Unlike past ventures, Agentiq seeks to involve consumers in the value creation of sports assets. It allows athletes to receive upfront cash in exchange for a percentage of their future on-field earnings, which can then be bought by investors through securities offerings. The initial focus is baseball, with current MLB players Justin Martinez, Esmerlyn Valdez, and Hunter Dobbins on board.
The company also aims to expand into other sports in the future. With a low 1% broker fee and a 2.5% maintenance fee on distributions, Agentiq plans to lower these fees as it grows. The founders hope to offer features like insurance, selling interests to other investors, and "baskets" of players for diversification. Previous startups like Fantex and Finlete faced challenges, such as low trading volumes and legal issues, highlighting the inherent risks in investing in humans.
Written by urgent.news from Front Office Sports's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
