Recent developments in technology have seen a lot of changes and advancements in the fantasy sports industry. A lot of players have entered the industry, introducing more games, to the delight of the fans. With the development and attractions of the cryptocurrency technology, a lot can be done to benefit the players and fans of these games, bringing them more earnings, better cashing out systems as well as more digital fantasy games. Digital Fantasy Sports is a digital sports platform that seeks to bring this concept of playing fantasy sports while using cryptocurrencies to ordinary fantasy players. It has created an ER20 token called DFS that seeks to provide a simple secure interface between the players and the league action that they love.
DFS will feature its own network of games across multiple sports known as Digital Fantasy Sports allowing users to compete and win using tokens. This platform will feature 9 distinct fun fantasy games that no other site offers such as NASCAR, boxing, NFL, MLB, NBA among others. This way, it will attract more fantasy games enthusiasts and assure them of a fun experience that is not available anywhere else in the digital fantasy sports platforms. According to their white paper, instead of cashing out winnings in form of tokens at a traditional arcade prize counter, DFS uses the smart contract technology in Etherum to enable the players’ exchange and claim their winnings.
Depiction of DFS Mobile app
This method of re-distribution encourages token circulation as well as a way to encourage new players to join the Digital Fantasy Sports (DFS) universe. In addition, this solves the different problems that players face when retrieving their earnings from the traditional digital platforms, as well as reducing the charges that exchanging money to different currencies attracts.
DFS will be the first ever gaming token based on the Ethereum blockchain to be playable and easily exchangeable within the fantasy sports world. DFS will;
- Create a currency that is unparalleled in the fantasy gaming world, for use in giving out prizes and creating fun competitions.
- Differentiate DFS platform by offering a range of different games and possible token application.
- Let players form their own custom competitions and groups using DFS token as a prize for winning.
How DFS fits in the fantasy sports market
In a market of over 50 million fantasy sports players, the new cryptocurrency world will be the perfect new addition to this growing faction of sports enthusiasts. The rapid increase in price along with the increasing realization of credibility and opportunities in blockchain technologies, and especially on Ethereum has led to many new investors and users to enter the cryptocurrency markets.
The winner of such fantasy game will receive DFS which can then be redeemable for ETH/ other ERC 20 tokens available on the exchange networks. Instead of the traditional 10% collection from big names fantasy sites, 3% of tokens from the total pot winnings will go to the house for computing and sign up bonuses for new users. Therefore, users stand to gain from this and also have the chance to invest their winnings in a token of their choice instead of cashing out, spending the earnings or withdrawing. The bonus given to new users will encourage other fans to join the platform and benefit from these rewards as well as gain from their winnings.
The DFS app will feature all of the same fantasy sports or draft features that mobile users have come to expect such as group season play, weekly bonus tournaments, up to the minute statistics or scores. Also, it will feature the added element of personal tokens that allow people to trade tokens without the hassle of regular points systems. This way people know exactly what they are getting and when they will be getting it. Many measures will be planned and taken to ensure fairness for investors such as the provision of historical and current data to promote transparently on the platform. Therefore, investors are assured that they are investing in a well-planned out platform that will offer them returns.
Users of this platform will purchase tokens to be used in the games. These can be in form of fiat or any other ERC20 tokens that are available. This way, players from different locations and parts of the world can participate and use the platform without being limited by geographical as well as legal requirements. Since transactions run on a decentralized platform, the players will enjoy swiftness and security. DFS comes with a futuristic concept of incorporating cryptocurrency in the digital fantasy sports, which will revolutionize this industry.