Keys 101 – The Core Asset

What is a Team Key?

A Team Key is a blockchain-based digital asset representing a team’s participation in TheSportExchange protocol:

• Each team has its own Key series.

• Each series is capped at 21,000 Keys – enforced by smart contracts.

• Within a team, Keys are fungible (every Key of that team has the same rights).

• Across teams, Keys are economically non-fungible (different supply, buyback profile, demand, and price).

Think of Keys as “sports gold”:

• Bitcoin created a scarce digital asset for money.

• TSE creates a scarce digital asset for sports performance and fan demand.

What do Keys not represent?

Keys do not:

• Represent ownership of a club, league, or company.

• Confer rights to dividends, tickets, governance over clubs, or real-world revenue.

• Give you any claim over player contracts, stadiums, or sponsorship income.

Keys are protocol-level assets within TSE:

• They are minted and burned automatically by smart contracts.

• Their price is set by an on-chain bonding curve, not by a bookmaker.

• Their value is shaped by scarcity, inflows, and performance-linked buybacks.

How are Keys classified?

Each team’s Keys form a separate series with its own economics. Keys are:

• Fungible within a series (e.g. all “Team A” Keys are interchangeable).

• Non-fungible across series (a “Team A” Key is economically different from a “Team B” Key).

This “series-based” design aligns with the emerging category of non-fungible crypto-assets by series: assets that are homogeneous within each series but represent different exposures across series.

⚠️ Important Nothing in this documentation should be interpreted as legal, tax, or investment advice. Local classification of digital assets may differ by jurisdiction. Users are responsible for complying with applicable laws where they reside.