How the FanDuel collaboration and Komodo integration align with our strategy
Last week GameCredits announced two significant developments: a collaboration with billion-dollar fantasy sports company FanDuel and an integration with the Komodo platform. With every announcement comes confusion, so we wanted to quickly explain how both of these fit into our overall strategy.
We’re incredibly excited about collaborating with FanDuel to provide GAME prizes for fantasy soccer tournaments during June and July. FanDuel will be running free-to-play tournaments every day of the World Cup, with a total of US$100,000 worth of GAME up for grabs.
This collaboration has plenty of upside for both parties. GameCredits and our investors will benefit by having our coin exposed to a whole new audience, while the deal proves that FanDuel will be the first major fantasy sports company to take a significant step into the crypto world.
We’ve been interested in the $7 billion fantasy sports sector since industry pioneer Matt Fortnow started working with our team, and we see it as a great fit for our coin. Of course, fantasy sports faces many of the same problems as the broader gaming industry: slow payment processing, high transaction fees, and the risk of fraudulent payments and chargebacks.
That’s why it makes sense for a company like FanDuel to get involved with crypto, and with GameCredits in particular. The fact that GAME operates on our own blockchain with a support team focused entirely on gaming allows us to provide a service above and beyond many of the competing crypto tokens on the market. Indeed, having full control over our own blockchain allows us to provide top speed, scalability, and security to FanDuel.
We’re interested to see how these collaborative World Cup tournaments pan out, and we’re excited about the possibility of working with FanDuel more extensively in the future.
With the FanDuel/GameCredits tournaments beginning in a few days, our integration with the Komodo platform couldn’t have come at a better time.
This integration is the first of its kind. Every few blocks, a hash from the GameCredits network is verified on the Komodo blockchain, which is in turn verified by the Bitcoin network. That reduces the window for any potential 51% attack to in between Komodo verifications — which are scheduled every couple of minutes — and greatly reduces the total losses that even a successful attack could cause.
The best defence against 51% attacks is hashing power, and we now have the Komodo network’s hashing power and Bitcoin’s hashing power protecting us. The beauty of this arrangement is that it bolsters our coin’s security while continuing to allow our community to contribute to our network.
Integrating with Komodo makes GAME one of the most secure POW coins on the market — even more secure than major coins like BitCoin Gold and Verge. As we continue to expand with new collaborations like FanDuel, that extra security is vital in protecting our own assets and those of our community.
We hope this clarifies how our recent announcements fit in with our overall strategy for GameCredits. Remember to get involved with FanDuel’s World Cup tournaments for your chance to win some serious GAME prizes!