TradeStars Launches Mainnet of Fantasy Sports Stock Trading Game based on Fractional NFTs – Press release Bitcoin News
PRESS RELEASE. TradeStars has launched “Olympic Torch”, the Mainnet of their Fantasy Sports Stock Trading Game, on 31st August, 2021.
TradeStars’ new Fantasy Sports Game allows users to trade Fantasy Stocks of world-class athletes, whose value is directly influenced by the real life performance statistics of the respective player. The Fantasy Stocks can be purchased using USDT for now; fiat payment gateways (for INR and USD) are on their way.
Fantasy Sports Gaming Today
Fantasy Sports Gaming has seen a steady rise in both popularity and valuation over the last decade. The global Fantasy Sports market was valued at $20.7 billion in 2020. It is expected to reach $48.1 billion by 2027, growing at a CAGR of 12.8% from 2021 to 2027.
Existing Fantasy Sports games all work on a similar model, which involves users creating their own ‘dream teams’ of their favorite players and earning points based on how their selected athletes perform in real life. The top users with the maximum points usually win monetary rewards at the end of each tournament or season.
In such games, users are severely restricted in their choice of sportspersons while creating their fantasy teams, which often forces them to change their teams with every match to optimize the available players. Moreover, such apps are only operational during match days.
TradeStars has introduced a completely new sports gaming model which does away with all these limitations.
TradeStars – the NASDAQ for Fantasy Sports
TradeStars has been conceptualized as a NASDAQ for Fantasy Sports Stocks, built on the Ethereum blockchain and powered by Polygon (erstwhile Matic). The trading market on TradeStars is open 24×7, all 365 days of the year.
Fantasy Stocks purchased by users are directly transferred to their wallets. Every transaction is recorded on the Ethereum blockchain, ensuring complete transparency and enhanced security. Integration with Polygon’s Layer 2 scaling solution provides almost instantaneous and gasless transactions, leading to a much superior user experience as compared to most of the existing DApps.
Users who take keen interest in sports can use their sporting knowledge to identify early and purchase the Stocks of promising newcomers which have the potential for more upside. This is similar to purchasing stocks of a growing enterprise while they are still priced low.
NFT Markets for Fantasy Stocks
TradeStars uses NFTs (Non-Fungible Tokens) to represent the real life performance stats of athletes. Moreover, instead of issuing a single NFT to represent each unique athlete (or each Fantasy Stock), TradeStars utilizes the concept of Fractional NFTs and issues what is referred to as “NFT Markets”.
The NFT Markets make it possible for buyers and sellers to purchase or sell any amount of Fantasy Stocks as they want, including fractions. This significantly enhances the liquidity offered for the Fantasy Stocks, and simultaneously provides buyers the flexibility to invest exactly as much money as they want.
As of now, TradeStars has listed Fantasy Stocks of Cricketers from all around the world. Some of the Fantasy Stocks are locked for trading, and will get unlocked only after 10,000 units of that particular Stock are purchased cumulatively.
In the coming months, Fantasy Stocks of sportspersons from various other popular sports will be featured as well on the TradeStars roster, starting with Football.
TradeStars Mainnet Launch
The Mainnet launch event was attended by over 500 viewers. It included various events, including an interactive session with Founder Christian Hentschel, with a $250 reward pool for the best questions. A host of Fantasy Stocks of popular Cricketers will be unlocked by TradeStars. These Cricketers had been selected earlier through decentralized community voting rounds.
The event also saw Anshul Pareek, Head of Marketing, announce various upcoming referral programs and reward campaigns, where participants can win special edition TradeStars Olympic Torch NFTs among other prizes. Apart from that, the Winners of the Warm Up Rewards Campaign, which sought to reward the most active participants of the Testnet phase, were announced.
Speaking about the future of TradeStars, Christian said, “TradeStars is here to change the Fantasy Sports Gaming sector. Now you have a Sports Fantasy game where you can not only apply your sports strategies to earn money, but also enjoy the thrill of Fantasy Stock trading whenever you want. We have just got started, and will constantly bring you new features and contests to keep your adrenaline pumping.”.
Go to tradestars.app to check out the new revolution in Fantasy Sports Gaming.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Image Credits: Shutterstock, Pixabay, Wiki Commons