The Blockchain Is Going To Change Fantasy Sports Forever
What if your fantasy sports experience was all upside and no downside?
The industry built around fantasy sports — joining a league, picking a lineup of real athletes, and scoring points based on how those players perform in real-world games — faces several challenges that negatively impact one’s enjoyment of this pursuit. Existing platforms like DraftKings and FanDuel are certainly popular, but they are fraught with problems moving money to winners, uncertain legal status, and a general lack of transparency.
If a fantasy platform could immediately do away with these issues, then it would assert itself as a fan-centric force to be reckoned with.
Rarely a day goes by in the news cycle without someone reporting on how the blockchain — the technology that powers Bitcoin and similar cryptocurrencies — is changing the way we move money from one corner of the world to another. It operates on an “open ledger” system that is simultaneously super-secure and completely transparent. Blockchain technology doesn’t care about geographical distance or political differences; it just transfers value and information from one user to another, and it does so extremely reliably.
That’s why MyDFS, the blockchain-powered daily fantasy sports platform, relies on this technology to unite fantasy players around the world and see them compete against each other. Players enter that day’s league and pay an entry fee in MyDFS cryptocurrency tokens. They pick their lineups in the morning, see their results in the evening, and get the corresponding token payout in the same day.
Not only are the platform’s financials recorded in the blockchain, but player trades, wins, losses, and statistics are verified and confirmed here too. The MyDFS blockchain is a powerhouse of sports data and user winnings, and you can jump aboard now.
If you’re interested, then remember the date January 31. That’s when you can participate in our initial coin offering and buy some tokens for in-game use. Your winnings can of course be converted to local currency, just like Bitcoin, and your identity is verified with an email address, not a photo ID. It’s time to make the fantasy sports experience smoother and more enjoyable for the more than 50 million people who play it every year.
Blockchain technology is already reshaping how world governments think about currency. We look forward to leading the blockchain revolution for fantasy sports.