Virtual currency and crypto related platforms have expanded during the last years. But nobody has ever built a platform exclusively for football fans. This time, FanX is the first cryptocurrency-based sports investment and gaming platform available.
The main intention of FanX is to create a revolutionary and innovative product that combines two different concepts: fantasy sports and cryptocurrency trading. Users are able to buy tokens representing soccer players with value fluctuating according to real world sports events.
The price of a specific players is determined by 3rd party sports datastream. But which will be the different things to take into account for measuring a player performance? Well, goals, assists, yellow cards, red cards, shots, fouls, played time, result of the game. If the player does not play, the price will not change when the player does not play.
At the moment the game is still being developed and the team behind the platform is trying to obtain an online gaming license. In this way, it will be possible for FanX to take cryptocurrencies as a means of payment.
FanX model does not offer traditional betting, and its model is closer to Fantasy Sports rather than gambling. US Online Unlawful gaming act of 2006 explained that fantasy sport are games of skill, which means that gamers need a certain level of knowledge about sports so as to play. Additionally, regulations towards fantasy sports is more favourable than gambling across many countries around the world.
How To Build Up a Team?
It is important to mention that the more famous the player is, the higher the price and the lower the volatility that it will have. And it happens in the other way with less know football players, their price will be lower, but they will have higher volatility.
Users will be able to buy tokens of as man of 23 different players and as few as 4, being one player per category: forward, midfielder, defender, and goalkeeper. 11 can be selected as the ‘line-up’ which will be participating in more advanced ways of playing.
This more advance way of playing is related to the ‘achievement system.’ It allows users to hit different types of achievements would allow them to have different token rewards. But, just the 11-person lineup can participate in the achievement system.
As it usually happens, every single day there will be a ‘highlight match.’ Those players that will be participating from these special events, will be awarding the user with extra bonus coins.
Some Important Rules and Bonuses
The trading session will be suspended an hour before the game and it will be resumed one hour after the game ends. This would reduce problems in the platform and have everything ready for the match just on time.
Prices of any player token will never go below 0.1 and it is not possible to buy a player token when the price is lower than 10.
Additionally, one of the core elements of FanX product is to reward users who understand sports. That’s why the token price of the players will be reflecting real world sports events. If the platform would let the token price be entirely determined by the market, the token would be very easy to manipulate. In the future, there will be new mechanisms that will let buys and sells affect token prices and make the experience much richer.
Furthermore, each player will have some limits on how much they can trade, this would allow the game to be more balanced and encourage users to pay more attention to the players and their real-life performance.
Every single new user likes to receive free coins and welcome bonuses, and this is what FanX does with its new football fans. New users will get 100 FanX coin and other several random players after signing up. Moreover, the platform has an important attractive referral program. Users that are able to invite friends and other players, will receive one more random player when referring a friend.
FanX Future Plans
In the future, FanX could issue a coin or Initial Coin Offering (ICO) to get funded for other projects. At the same time, the FanX could also transform the product into a decentralized exchange.
In addition to it, FanX is also planning to offer a mobile app and a desktop app in the future, allowing more users to play.
FanX is a Fantasy Sport game that decided to combine two different attractive concepts: fantasy sports and cryptocurrency trading. With this in mind, the team has decided to create a platform that allows users to create their own teams with players from the best leagues all over the world. Those who have better real-game results will end up giving the user more points.
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