The company is a new blockchain powered platform that is focused around the area of fantasy sports. It’s developed primarily for the people who love to participate the past time.
What is MyDFS?
They use the dynamic, highly trusted blockchain technology to support their fantasy sports platform and connect sports fans from all over the globe with a totally transparent, easy to use platform. There is a whitepaper listing that you can read right now on the company website as well for even more information. They are currently in pre-ICO and are starting it in a little less then a month.
You’ll be able to participate in fantasy sports complete with, stats, transactions and it will all be powered on blockchain technology. MyDFS is an all in one based system that works on a daily fantasy sports platform from your mobile device. One of the claims is that they’ve simplified the experience in way that will make it more enjoyable for the every day players regardless of their intensity or skill level.
They use the MyDFS tokens and enable players from multiple countries to play the game, win more and then to exchange their tokens for other forms of cryptocurrency or fiat money in the blink of an eye.
How Does MyDFS Work?
The platform is promised to solve a host of problems and major issues that people in the fantasy sports realm are currently facing. Apparently, they’ve made one of the easiest to use platforms, so people can benefit and play fantasy sports from the easy of their mobile device:
- Legal Restrictions – The company uses the easy to understand and manage tokens in order to help their services grow on a global scale around the world. They do this, so they can make sure not to break any local laws or regulations apparently.
- ID and Payment Verification – They use the blockchain technology in order to confirm that the correct individual will get the right tokens. And the process is also said to be completely automated through the use of the ever popular and highly trusted smart contracts.
- Withdrawals – Anyone who is using the tokens is said to be able to withdraw them from an exchange for various other cryptocurrencies or fiat at an incredibly fast rate. They want to make sure that people can get access to their funds as soon as they need them.
- Transparency – Regardless of whether or not you’re talking about token transactions or game stats, the data uses by MyDFS is said to be completely accessible at all times for anyone to see publicly.
What is the ICO on MyDFS?
The ICO is currently in pre-stages with a goal to start in a little less than a month. MyDFS Tokens are going to be the tokens used to help engage and grow the company. They will grow in accordance to winnings of the people use them and can be used for multiple reasons:
- The tokens will be able to be used in playing games, for the various entry fees and to get winnings
- Players can use them to buy subscriptions and content within the game
- They’ll also be able to use them for making peer-to-peer based transfers inside the gaming platform
- Players can use them for investing with other players on the MyDFS platform
- And they can be used when converting other cryptocurrencies to fiat dollars
The tokens are said to be valuable to the people playing fantasy sports, not by people who are guessing the price and wanting to make money from that angle. The tokens price will climb as more people join the platform, it will create a demand that will naturally increase the price of them. While at the same time, players who are actively participating will be able to more effectively monetize their games by exchanging tokens in their possession for other currencies they choose.
They’ll work on multiple platforms with multiple sports. As of now, they support soccer, hockey, basketball, football and cricket. They promise that they will expand their available sports in the near future. Also, the platform works on Androi or iOS and pretty much all modern technical devices like smartphones, tablets and even the web.
What is the App for FIFA 2018?
They claim that the app is the most important part and foundation for their entire platform. It allows users to find games and manage their tokens as well as invest with other participating players. They app is promised to be near completion, and since they’ve launched other similar apps in the past, they are not necessarily starting from scratch. They promise that they’ve put a ton of effort into developing the application and that it will be easy as well as pleasurable for players from any skill level to use.
The goal is release the app just before FIFA 2018 World Cup. The cup will be held in Russia and it’s the ideal time to attract a wide audience of fans as well as grow the userbase. There are a ton of features that are available within the application as well:
- Easy onboarding for users
- Automatic seating for players
- Smarter lineups
- Fast creation of lineups
- Highly detailed player stats
- Full game simulation online
- Specialized achievement system
- Advanced leaderboards
- Pro functionalities
- Support and chat in game
- Much more
MyDFS already has a background in developing fantasy apps. They’ve self-proclaimed season pros who have extensive experience in building fantasy apps that operate daily. One of the apps they already developed was the KHL Haier Fantasy App for a popular European Hockey League. That app and another they created where both featured in the Apple App store. It was rated top ten in several countries around the world.
You can also play differently when you use the DFS brokerage. For example, instead of playing a conventional style of fantasy football, you can invest into others who are playing the game and share their winnings using their brokerage platform. It’s a completely transparent and automated system that is said to be completely hassle free.
With their system you can get detailed game records to make it more efficient when choosing other players to invest into. The public records make it much easier to see the track records of anyone playing. The platform also offers highly secure, instantaneous payments. And your tokens are also protected via a smart contract so that players can’t spend them except when participating in games you agree on.
When you win, your share is deposited into your account automatically. It operates on a completely decentralized platform that stores all player data and that stats from every game that happened within the blockchain. Also, whenever you want to see how certain players are performing, it’s just a quick click to access the data.
It works with some very easy to follow steps:
- Step 1 – A broker uses data that is publicly available as well as analytics, so they can find the best player to invest into.
- Step 2 – The broker can then lend out token credit based on a smart contract that only allows the user to use the token in a specific game.
- Step 3 – Once the player is in the game, they broker pays the fee of entry.
- Step 4 – And, if the player wins, he gets a portion of the winnings that were agreed upon with the smart contract. The broker then gets the rest of the winnings.
Who is Behind MyDFS?
The team offers complete transparency which is a good thing. The major player behind the system is the CEO, Viktor Mangazeev. He has worked on several other popular fantasy sports systems like KHL as mentioned before. He also worked as a CIO on many other large companies that together boast more than $400 million in revenue.
Other than that, there are several advisors on the team, many of whom are or were professional sports players like Alexander Hleb who played as a professional football player for Belaruse.
MyDFS ICO Conclusion
The company has a very in depth plan of action, shows transparency and has people on the company seems to work with transparency, which is probably the most important factor of any company operating in the industry of cryptocurrency. If you’re a sports fan and love fantasy football, then MyDFS is the ideal platform for you to get started with. And since it’s in pre-ICO, it’s the perfect time.