The fantasy sports industry has a surprisingly high number of participants. According to the Fantasy Sports Trade Association- yes, it exists- estimates that over 32 million Americans spend around $467 per person annually on fantasy sports, amounting to more than $15 billion in revenue.
Despite the size of the fantasy sports market, there are only a few places in which fantasy sports enthusiasts are able to bet online. The small pool of online betting platforms that offer fantasy sports outcome prediction has created a monopoly in which users are charged high commissions with disappointing backends.
A new fantasy sports platform, however, aims to use blockchain technology to decentralize the fantasy sports industry and completely democratize the online fantasy sports betting environment. DFantasy is set to launch an initial coin offering that will allow participants to invest in the development of their innovative platform and create their own fantasy sports competitions.
In this article, we’ll take a look at the DFantasy platform and examine the specifics of the DFantasy ICO to help you determine whether it’s worth investing in.
What is DFantasy?
The creators of DFantasy aim to create a decentralized, community driven platform that is based on the ERC20 token standard and the Ethereum blockchain. Users of the DFantasy platform will be able to generate their own contests with parameters that are defined by the users themselves, as opposed to the contests offered by the most popular contemporary platforms.
Interestingly, the DFantasy platform awards rakes to the users of the platform for creating and promoting contests. During a recent press event, the DFantasy team commented on the dynamic nature of the DFantasy platform:
“Conventional fantasy sports are centralized and heavily monopolistic. FanDuel and DraftKings are the two big companies owning over 90% of DFS market. High commission rates, lengthy verification process, unfair competition and slow withdrawal of money are other major problems in conventional fantasy sports. The new DFantasy platform eliminates all of those problems and puts the users’ profit back in their pockets where it belongs.”
DFantasy users are able to create their own contests that focus on the sports that are popular in their geographic regions. Contest creators promote their own contests, which are then joined by other players on the platform. The winner of any given contest is furnished with the entrance fees collected from all contestants, with the contest creator provided with a small percentage of the proceeds as a commission.
The DFantasy ICO
The DFantasy platform will use the FAN token to facilitate payments for entrance and winnings, which will be available for purchase during the DFantasy ICO. The DFantasy token sale will begin on the 12th of January 2018, and will offer investors the opportunity to purchase 5,900,000 tokens.
DFantasy are also making tokens available in a pre-sale that will offer up to 45% early bird bonuses. At the first stage of the DFantasy initial coin offering, 200 FAN tokens will be priced at 1 ETH.
The DFantasy Verdict
The DFantasy platform is set to revolutionize the surprisingly large fantasy sports market, and will allow fantasy sports players to create their own peer-moderated and promoted contests as well as benefit from them. If you’re interested in fantasy sports, the DFantasy ICO is definitely worth consideration.