Dubai, UAE, Sept. 02, 2021 (GLOBE NEWSWIRE) — TradeStars Group, a blockchain startup based out of Buenos Aires, Argentina, has launched the Mainnet of their Fantasy Sports Stock Trading Game, on 31st August, 2021.
The blockchain based gaming app (or DApp, to be precise) promises a host of new features which would usher in a new era in the Fantasy Sports Gaming sector.
Fantasy Sports Gaming
Online fantasy games have seen phenomenal growth over the last decade. According to the Fantasy Sports and Gaming Association, nearly 57.4 million people in the United States engage in Fantasy Sports today. To put it in perspective, this is nearly 20% of the US’ population.
In India, there are over 20 million consumers of Fantasy Sports today. This number is expected to grow rapidly in the near future as more Fantasy Gaming apps make their way to the market.
In terms of valuation, 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.
In spite of their popularity, Fantasy Sports games seem to have hit a saturation level in terms of ideas and implementation.
Most of the Fantasy Sports games in existence require users to create their ‘dream teams’ of their favourite players. Each team usually consists of exactly 11 players. Users earn points based on the performance of their selected athletes in real life matches, and the top users go on to win monetary rewards at the end of each season or tournament.
Unfortunately, these apps are operational only during match days. Users can’t enjoy the thrill of Fantasy Sports anytime they want, and have to specifically wait for big ticket tournaments. Popular games such as DraftKing, MPL, and Dream 11 also follow the same model of gameplay.
The apps also have certain predefined rules, which restrict users when it comes to choosing sportspersons. Players are assigned rating points based on their popularity, and users have to select players such that the sum of their rating points does not cross a predetermined threshold value. Users often have to modify their team after every match in order to make best use of the available players.
TradeStars – a NASDAQ for Sports Lovers
TradeStars has introduced a completely new dimension in the realm of Fantasy Sports Gaming.
On TradeStars, users don’t have to create teams of 11 players. Rather, they can purchase Fantasy Stocks whose price is directly influenced by the real life performance statistics of cricketers.
This is equivalent to a New York Stock Exchange or a NASDAQ built exclusively to cater to sports lovers. Trading markets on TradeStars are open all round the clock, and every day of the year.
Investing in these Fantasy Stocks is similar to purchasing stocks of listed companies. For every athlete, a limited amount of Fantasy Stocks are available. As an athlete puts out stellar performances, the demand for the athlete’s Fantasy Stocks increases, which drives up the stock price as well.
Sports lovers can use their sporting knowledge and acumen to identify and purchase early Fantasy Stocks which have a potential for greater upside in the future. TradeStars provides users the opportunity to create a long term investment portfolio of Fantasy Stocks, whose value is tied to real life sporting events.
TradeStars Utilizes the Best of Blockchain Technology
TradeStars has been developed on the Ethereum blockchain, and is powered by Layer 2 scaling solution Polygon. All trades and transactions are recorded permanently on Ethereum, and transaction settlements are done almost instantly and free of cost thanks to Polygon’s technology.
This combination provides users unparalleled security and transparency, and a world class user experience.
The Fantasy Stocks themselves are represented through NFTs, or Non-Fungible Tokens. These are special tokens issued on the blockchain, which are used to represent the real life performance stats of the respective athlete.
Users who purchase Fantasy Stocks have complete and sole ownership of the stocks for as long as they want, as they are transferred to the user’s blockchain wallet as soon as the transaction is confirmed.
TradeStars goes a step further and uses Fractional NFTs. As the name suggests, these tokens can be traded even in fractions. Not only can users purchase Fantasy Stocks of as many players as they want, but also exactly as much as they want to, including fractions.
Representing the Fantasy Stocks through Fractional NFTs also helps in significantly increasing their liquidity, as users are no longer bound to buy or sell these Stocks in integer amounts.
TradeStars Mainnet Launch
The TradeStars Mainnet named “Olympic Torch” was launched in a virtual event, which was attended by 500+ participants worldwide.
The Mainnet launch came after an extensive Testnet evaluation phase, where more than 32,000 users participated and performed transactions worth over $750,000. The most active participants of the Testnet phase were rewarded through the Warm Up Rewards Campaign, and their names were announced during the Mainnet launch event.
The event also featured an interactive session with TradeStars Founder Christian Hentschel, with a $250 reward pool for the best questions. Anshul Parekh, Head of Marketing, announced various upcoming referral programs and reward campaigns, where participants can win special edition TradeStars Olympic Torch NFTs among other prizes.
Christian Hentschel, said, “We hope to break new ground in the Fantasy Sports sector. TradeStars combines the thrill of Fantasy Sports with the excitement of stock trading. Apply your sports strategies to pick your favourite players and create the best sports portfolio. There are no restrictions here and our markets are open 24×7.”.
How to Play
Fantasy Stocks can be purchased on TradeStars TSX, which is the in-game currency of the TradeStars ecosystem. TSX can be purchased on different cryptocurrency exchanges using BTC, ETH and USDT.
Apart from playing the game, TSX entitles holders to other benefits as well, such as earning a share of the platform’s revenue fees as dividends, and getting early access to special Sports themed NFTs. TSX holders will also have a voice in various platform governance decisions through decentralized voting rounds.
To start off, TradeStars has listed Fantasy Stocks of Cricketers from all around the world. Some of these Fantasy Stocks are locked for trading, and will get unlocked only after 10,000 units are purchased cumulatively.
In the coming months, Fantasy Stocks of sportspersons from various other popular sports will be added to the TradeStars roster as well, beginning with Football.
Go to tradestars.app to check out the Future of Fantasy Sports Gaming.
Media Contact –
CEO name: Christian Hentschel
Company: TradeStars Group