FansUnite Raises $4,457,750 CAD to Integrate Blockchain Technology and Disrupt Sports, Gaming, and Entertainment Industries
Canadian-based sports, gaming and entertainment company FansUnite Entertainment Inc. (“FansUnite”) (https://fansunite.io/) completed a private placement for $4,457,750 to accelerate development of their sports betting protocol and the FansUnite Sportsbook. The FansUnite Protocol is an industry standard for sports betting and sports data applications built on the Ethereum blockchain.
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Sports betting is widely regarded as a vertical that will be disrupted by blockchain technology, with its inherent properties of transparency, security and immutably stored data providing a compelling use-case for both bettors and operators. Ethereum has established itself as the preeminent public blockchain in terms of developer mindshare, number of unique addresses, and transactions processed — surpassing 52% of all cryptocurrency transactions last year. The FansUnite Protocol provides the first viable solution for sports betting applications to accept transactions in any token on the Ethereum blockchain. The FansUnite Protocol Whitepaper is available here and the FansUnite Sportsbook Whitepaper is available here.
“By leveraging blockchain technology and a compelling token economy, FansUnite is going to redefine the sports betting and sports data marketplaces. Transparent market information on the blockchain holds the key to providing a level playing field in sports betting, enabling new market entrants and competition on price — a huge win for the betting public.” said Darius Eghdami, Co-Founder and Chief Executive Officer of FansUnite.
“Further, these advancements are an opportunity for forward-thinking operators to embrace the cost savings and potential new markets represented by a blockchain sports betting solution and reaffirm their position as market leaders before they’re left behind. This raise will position FansUnite shareholders with a proportional interest in FansUnite as we head towards the launch of the FansUnite Protocol and Sportsbook, while continuing to explore opportunities to become a stand-alone publicly traded company.”
FansUnite is continuing to develop the FansUnite Protocol, Sportsbook, and currently unannounced applications, pursuing M&A activity in the sports, gaming and entertainment industries, and are exploring a go public strategy later this year.
FansUnite Entertainment Inc. is a Canadian sports, gaming, and entertainment company utilizing the benefits of blockchain technology.
FansUnite’s key assets are:
- FansUnite Protocol: Free and shared infrastructure decentralized applications (“DApps”) will be able to build atop of and leverage FansUnite’s Oracle network for bet resolution while still accepting wagers in any Ethereum-based token. The FansUnite Protocol will consist of a public library of smart contracts, standardized data structures, and a token economy designed to incentivize the provisioning of fast and accurate sports data by a decentralized network of oracles.
- FansUnite Sportsbook: The FansUnite core team will develop the first DApp, the FansUnite Sportsbook, to leverage the FansUnite Protocol. The FansUnite Sportsbook will feature a 1% margin and social elements designed to allow collaboration amongst bettors. The social sportsbook concept described below highlights just one possible implementation of a DApp on this protocol. We anticipate a whole ecosystem of DApps leveraging the FansUnite Protocol and Oracle network, limited only by the ingenuity of developers and Community Members.
- FansUnite Media Inc.: FansUnite Media Inc., a subsidiary of FansUnite Entertainment Inc., is the interest owner of FansUnite.com. FansUnite.com is a social sports betting community started by three sports fans who wanted to take sports back to the people that fuel the industry, the fans! With FansUnite’s free virtual currency, users are able to place fantasy wagers with absolutely zero monetary risk, track their bets with FansUnite’s proprietary PickTracker and get a full-unedited look into their own history.
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