Daily fantasy sports (DFS) are a subset of fantasy sport games. As with traditional fantasy sports games, players compete against others by building a team of professional athletes from a particular league or competition while remaining under a salary cap, and earn points based on the actual statistical performance of the players in real-world competitions. Daily fantasy sports are an accelerated variant of traditional fantasy sports that are conducted over short-term periods, such as a week or single day of competition, as opposed to those that are played across an entire season.
Meanwhile, The blockchain technology has now evolved manifolds in last decade from just a cryptocurrency technology to a distributed ledger technology that is taking different industries by storm.This technology ensures immutability, tough security, anonymity, transparency, disintermediation, validation and authentication in the system where it is implemented. Translating Fantasy Sports business into a blockchain world could have even more potential, turning the reward system into a cryptocurrency nirvana.
With the number of fantasy sports players in North America heading past 60 million, and the industry said to be worth more than $7 billion, fantasy sports games are clearly on the rise. This is the aim of numbers of blockchain-based fantasy sports startups was created. One of them is FanEx.io
What Is FanEx.io?
FanEx.io is a blocckchain-based fantasy sports betting startup. FanEx.io was created out of the growing demand for a fantasy sports platform utilizing a safe and secure Ethereum Blockchain Technology.
Developed by BetAmerica, which made its name in online gambling in horse racing, FanEx.io is a creative and decentralized fantasy sports betting site with an emphasis on security and costumer service.
“We hold player money in safekeeping and we provide good customer service,” John Ford, head of BetAmerica.
The Types of Daily Fantasy Games That FanEx,io Offers
One of the keys to understanding how a Fantasy Sports website works is knowing which types of games they offer. FanEx.io offers different kinds of of DFS games in the following sports:
- NFL Football
- Major League Baseball
- NBA Basketball
- Coming soon: all major sports leagues, MMA, Boxing, NASCAR, Tennis and Esports!
With those games, BetAmerica hopes to turn fantasy sports on its head. The company says it has already built a reputation as a trusted site, where it can hold lots of money in accounts for horse racing fans. Now it is turning to fantasy sports to attract a wider audience.
How FanEx Fantasy Sports Betting Works?
In order to play on FanEx fantasy-like betting games and competitions, A player needs to have Athlete Tokens. Two token holders each select a token and agree on a statistic to determine the winner with the loser giving up their token.
For example, you could bet another fan a single token that Stephen Curry will score more points than LeBron James in an upcoming game — and if Curry does, you’ll receive both tokens.
You can get Athlete Tokens by purchasing Fanex Coins in the Fanex Private Sale, Pre-Sale, and Token Sale. Fanex Coins will be converted into Athlete Tokens at a rate of 1 to 1. Once a Fanex Coin is converted into an Athlete Token the Fanex Coin will be forever burned, resulting in a shrinking total supply.
In addition, If you want to use an alternative, you are free to go for HODL, trade, and exchange your Athlete Tokens. FanEx platform will also allow developers to build their own applications which incorporate Fanex tokens, creating more fun ways to use and win Athlete Tokens.
Is FanEx Legal?
Yes, it is legal due to the exception for Fantasy sports in the Unlawful Internet Gaming Enforcement Act. This law is basically one of the lamest things the US government has devised to try to prevent people from gambling online. However, in this law, it designates fantasy sports as a game of skill rather than a game of chance. In virtually every state, fantasy sports is also considered a game of skill, but as always there are few states that have questionable laws and FanEx doesn’t accept paid entry games from people in a number of states.
Our initial exchange launches of NBA, FIFA, Champions League and Premiership represent ideal entry points due to the global popularity of soccer, basketball and blockchain.
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Writer : Oties
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