Crypto Soccr: Blockchain Sports Betting On Real Soccer Players?
What Is Crypto Soccr?
Cryptosoccr is a platform that offers football services on blockchain. This happens in terms of the collection and trading of the smart contracts of football players, and the betting on live matches. It is the central point for online gamers and football fans.
How Crypto Soccr Blockchain Betting On Real Soccer Players Works
Users of the Cryptosoccr platform can participate in the buying and selling of soccer player's smart contracts. Each player represents a single smart contract. The smart contracts availability is on the Ethereum blockchain and can be purchased by users using Ether deposited to their metamask wallets.
Once users select their favorite players, they click the buy contract button on the system. A player is linked to the user's ETH address for every smart contract they buy. Every time a user purchases a smart contract, its value doubles automatically.
Every contract that users buy may be bid by other gamers for a value that is higher or even double the initial price. A six-percent commission is taken by the platform for every transaction made on the smart contract.
Soccer players verify their contracts in order to be eligible during the claiming of royalties and they can even choose to donate 50% of the fees charged on purchases, in connection to their smart contracts to a charitable organization of their choice.
Users can additionally collect accessories in terms of stadiums, cups, and balls besides the players on the platform. The accessories are collateral for securing a bet price pool for the user.
Live matches are made available for betting a week ahead of the time up or even thirty minutes before the event starts so that users can bid for the victory or draw of their teams. Once the time for bidding is over, the ball for the match is released only if the users bet is validated. The funds are returned if the bet is considered void.
When the game ends, the users who have won the bet are given rewards in proportion to the contribution made. The owners of the stadium, ball, and cup that are assigned to the particular match are given 6% in rewards of the price pool without considering their bets. The ownership of the smart contract of Most Valuable Players (MVPs) allows users to secure a price.
The platform charges 4% fees for all transactions. For big events like the world cup, which contains a group stage, users can bet on the group leaders. Opening of the bets is one week before and closed during the start of the second round of the particular stage. The same terms of payment apply.
Crypto Soccr Benefits
Easy To use
The platform does require signup not unless the users choose. This makes it very easy to use. Users only need a computer, a METAMASK wallet and ether to participate in the services offered by the platform.
Users of the platform get double profits for their selected player's smart contract for them to transfer the ownership to another. This increases the value of their investment on the platform.
The platform is involved in charitable activities since the players can choose a certain percentage of the proceeds made on their smart contracts to be transferred to charity. This makes the platform a great participant in the community.