Fantasy sports have gained popularity in a number of sports such as Cricket, Football, Formula 1, American Football, and several others. They allow sports fans to have a more immersive experience when it comes to their favorite sports, enabling them to participate directly. Fantasy sports allow players to create their own team out of the players available. After creating their team, players can pit their wits and their teams against other players.
Data from the FSTA suggests that the Fantasy Sports Industry in North America had revenue of $26.5 billion in 2016. Given the popularity of fantasy sports, TradeStars has cemented itself as a leading platform in the space and has already garnered a loyal and growing fan base. However, other platforms have come into focus. Let’s look at the top 4 fantasy sports projects you should follow this summer.
What Are Fractional NFTs?
Before getting to the crux of the article, let us quickly go over Fractional NFTs. Fractional NFTs enable the splitting of the ownership of an asset, allowing multiple individuals to own a portion of an asset and receive benefits in proportion to their ownership of the asset. Why do we need fractional NFTs? Because assets in the digital world are not easily accessible. They are rare, and their rarity makes them extremely expensive.
Fractional NFTs allow the representation of a fraction of the asset in question, making it more accessible to people by allowing them to own a fraction of it. Fractional NFTs can also be traded between individuals. Now that that’s clear let us look at some Fantasy sports platforms that utilize fractional NFTs.
TradeStars
TradeStars is an alternative to traditional fantasy sports. The platform can be described as a decentralized exchange (DEX) for fractional NFTs, that connects economic incentives for users to real-life statistical data. Powered by the Ethereum and Matic Layer-2 blockchain, TradeStars allows users to trade and monetize digital assets that represent the performances and statistics of real athletes. Users on the TradeStars platform can leverage their sporting knowledge and create a portfolio by investing in the fantasy stocks of their favorite athletes while also competing against other users on the platform.
Player stock prices are dictated by market demand, which means that if users buy a particular player stock on the platform, its value will increase. Similarly, if a majority of the users are selling a player stock on the platform, we will see a significant depreciation in the value of that particular stock.
TradeStars is disrupting the fantasy sports space by creating the world’s first decentralized fantasy stock exchange. The platform uses blockchain technology to ensure complete transparency and decentralization. Everything ranging from user funds, trade executions, stock prices to the athlete’s performances are managed by smart contracts. This gives users absolute transparency and certainty when it comes to their assets.
PlayerSX
PlayerSX is a fantasy sports platform that functions like the stock market. Users on the platform can create portfolios consisting of their favorite stars by purchasing the shares of the players on the platform. The platform is easy to understand, and users need only have a prior understanding of fantasy sports.
The platform makes it simple for beginners thanks to built-in fantasy tools that allow users to research, understand each sporting concept and identify which NHL or MLB players are trending.
Euro 2020 Fantasy Football
With Euro 2020 just concluding, crypto enthusiasts and sports fans have another fantasy sports platform to hone their skills on, thanks to FootballCoin. Euro 2020 Fantasy, a free-to-play card game, includes each match from the tournament. Those interested in playing the game can register for free on the FootballCoin website.
Once registered, the user has to select the contest they wish to participate in. Once they choose the competition, they can create their team consisting of 11 outfield players and five substitutes, which will be chosen from a roster of available footballers. The winnings of the users on the platform are determined by their performance in games.
UFFsports
UFFsports is a blockchain-based fantasy sports platform. It introduces the concept of in-game ownership of franchises and players as NFTs. UFFsports users will be able to take ownership of their franchises and players and sell or trade them with other users. The use of smart contracts and the immutable nature of the blockchain makes this possible.
UFFsports aims to mirror professional leagues, taking into account the league size, regulations, league plays, and overall governance, while the scoring system will mirror other fantasy leagues. The game’s focus will be on the franchises, which all users on the platform will aspire to own. However, franchises will also be scarce in number.
Conclusion
As the fantasy sports space continues to grow, more platforms will continue to spring up, hoping to establish themselves as the number one platform in the fantasy sports space, offering an alternative to traditional fantasy sports. These platforms are taking fantasy sports to another level with a disruptive vision.
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