Crown League Blockchain Fantasy Football League Seeks $100 Million in ICO Token Sale
Blockchain-Based, Fantasy Football Platform To “Bring the League To Life” For Fans
Fantasy football is supposedly popular within the U.S, but very few platforms offer incentives for its over 60 million fans. In order to ensure that fans have a platform to turn to when it comes to enjoying fantasy football, blockchain-based startup, Crown League also plans to give fractions of rights.
In an interview with CoinDesk, the CEO of Crown Thrown Inc., the company responsible for the Crown League, Dan Nissanoff shared the specs of the project, along with the reason for existence, its pre-sale ICO goals and the fans’ perks.
The sole reason that Crown League flourished, according to Nissanoff, is the lack of coverage within the fantasy gaming industry. The platform that will house 12 teams, which fans can own depending on their holdings of the native token, was created to bring together fans in a way that would reward each individual. In particular, it has been noted that each fan “can feel like an owner.”
While the 12 teams will be managed by experienced gaming managers and similar staff, its token holders who have the final say. Given that a manager or staff does not satisfy token holders’ needs, the latter can decide, as a community, whether or not they want to keep that individual or hire someone else.
Simply put, Nissanoff said that the team involved is “going to bring the league to life with events at the national level [such as] the draft. We’re going to bring together groups that share the same financial and emotional interest.”
To finance the fantasy football platform, the team plans to raise nearly $100 million, which will be done through a pre-sale and 12 smaller ICOs of approximately $5 million each. This was allegedly done in a symbolic way, as it representative of the 12 teams that will be participating in the league.
As for the token sale, Nissanoff revealed that the assets will be considered a security, hence they will be complying by regulatory frameworks. More specifically, the platform will be available to the public via the regulation A+ exemption, which will only come into effect after the U.S Securities and Exchange Commission (SEC) approves of it.
Nissanoff anticipates public sales to be conducted anywhere between 2018 year-end to Q1 2019, with its completed platform ready in time for the fall of 2019 at the National Football League season.