Its the second week of March and its finally here — LeagueDAO’s Decentralized Bracket Protocol:
NON-FUNGIBLE BRACKETS
To launch the protocol LeagueDAO is hosting an NCAA Mens Basketball Tournament (aka March Madness) bracket pool via Non-Fungible Brackets.
Let’s dive in…
Non Fungible Brackets
Non Fungible Brackets (“NFB”), the decentralized bracket tournament protocol, developed by LeagueDAO and governed by $LEAG tokens holders.
Leveraging LeagueDAO’s Tokenize Fantasy Sports infrastructure, NFB enables automated and trustless tournaments that not only allows participants own their brackets but the confidence knowing that scoring and claiming prizes will be accurate and painless.
The game model is simple. Participants select the teams they think will win each tournament game from the first round all the way through the championship game. When the bracket has been filled it is minted as an NFT to enter the competition. Points are awarded for each game picked correctly, with the points increasing during each round of the tournament.
The bracket that scores the most points wins the grand prize.
NCAA Tournament Pool
To enter, each participant will fill out a bracket and pay .01 ETH to mint their bracket as an NFT. Participants will pick the winner of each game in the tournament. Points are awarded for each correct pick.
The Brackets with the highest point scores at the end of the tournament win the Eth prize pool.
You can start minting brackets on Monday March 14th.
Details:
- URL: app.leaguedao.com/nfb
- Network: Polygon Mainnet
- Launch Date: March 14th, 2022
- Mint Price: .01 ETH + gas fees in Matic
- Deadline to Mint your Brackets: The beginning of the first round of the tournament
How to mint a bracket
Instructions to mint a bracket are as follows:
- Connect your wallet to app on LeagueDAO website
- Select your picks for each game (67 games = 67 picks)
- You can save your draft brackets and return later to finish making your picks
- Finalize picks by minting bracket (cost to mint a bracket is .01 eth)
- Track performance throughout the tournament via the Leaderboard
- Earn points and collect rewards
Scoring and Prizes
Scoring
As for points, it starts at 1 point per correct pick and doubles through each round, for a total possible max score of 192 points.
- Round of 64 → 1 point per
- Round of 32 → 2 points per
- Sweet 16 → 4 points per
- Elite 8 → 8 points per
- Final 4 → 16 points per
- Championship → 32 points
Prizes
The best part of Non-Fungible Brackets is everyone has a strong chance of winning. 80% of the Eth collected from the Minting of Brackets will be added to the Prize Pool. The 2022 NCAA Basketball Tournament prize structure is guaranteed regardless of final amount of brackets minted. Prizes are awarded at the end of the Tournament.
Top 400 Brackets earn a % of the prize pool!
It’s safe to say, the stakes are high over here at LeagueDAO.
Prize Distribution Breakdown:
May the best bracket win!
In case you don’t follow college basketball, here’s a primer on the NCAA Tournament….
March Madness
The NCAA Division 1 Mens Basketball Tournament aka March Madness is without a doubt, one of the best sporting events of the year. This one-and-done style elimination tournament features the top 68 basketball teams in the NCAA (National Collegiate Athletic Association) facing off until one team is left standing and crowned as the champions. College basketball teams compete all season long in hopes of hearing their names called for the tournament seeding; broken into 4 regions with 1 through 16 seedings, the rounds are broken down as such:
- First 4 Round
- Round of 64
- Round of 32
- Sweet 16
- Elite 8
- Final Four
- National Championship
What makes March Madness so special? The stakes, the atmosphere, the intensity; all of it.
There’s something about March that just gets the hoopers going.
Whether it’s tournament triple-doubles or game-winning buzzer beaters from half court — if it’s going to happen, it’s happening in March. There’s a magical aura in these games felt by players, coaches, and fans across the globe. For some players, it’s a time to step up; for future professionals, it’s the biggest stage they can get to while still being an amateur. The easiest selling point — non-stop basketball action for weeks? Sign me up.
Bracketology
While the games garner a lot of attention, the galore behind March Madness all comes down to the brackets. Brackets are filled with user-selections of which teams are going to win games, starting from the First 4 Round, all the way through the National Championship game. The more matchups you correctly select, the more points your bracket earns. By the end of the tournament, the bracket with the most points is the winner.
Sounds simple, right? Just picking games and surely you’ll do fine?
Well, there’s roughly 9.2 quintillion possibilities and outcomes for brackets — and nobody has ever picked a perfect bracket. The chance of picking a perfect bracket is so low that prolific investor Warren Buffett had previously offered a $1B cash prize to anyone who successfully makes a perfect selection. Maybe you could be the first?
FAQ
We’ve addressed several common questions around the March Madness pool and Non-Fungible Brackets below.
Please check out leaguedao.com or our Discord for more information.
When can I start to mint by Brackets?
The Non Fungible Brackets will launch on Monday, March 14. We have to wait until all of the teams are announced on Sunday March 13th, aka Selection Sunday.
Which network is this app on?
Non-Fungible Brackets is deployed on the Polygon. Polygon is very similar to Ethereum but cheaper. Due to it being so similar, a lot of tokens and apps found on Ethereum can be found on Polygon, and transferring (AKA bridging) crypto between the two networks is easy.
MATIC token is the native token of Polygon. This is similar to Ether in Ethereum. To interact with apps on Polygon, MATIC tokens are required to pay as gas fees.
This means that to mint a bracket you first have to bridge Eth and Matic tokens to Polygon.
Here are some helpful articles that explain how to use two popular Bridges to move funds from Ethereum Mainnet to Polygon: Zapper Bridge and the Matic Bridge.
What is the deadline to mint a bracket?
Brackets are locked in once play begins during Round 1 of the NCAA Tournament at 12PM ET on Thursday, March 17.
Can I edit my bracket?
Your bracket can be saved as a a draft and edited as much as you want before the bracket is minted; once minted has begun it is locked in until the end of the first round of the tournament.
At the end of each round, you can update your bracket and change your picks. However, you can only change the picks of teams that are still eligible in the tournament. So, if a team is eliminated at the end of the first round, you can’t change that pick.
But, if a team has not been eliminated you can change the picks for that team.
What happens if two Brackets have the same score?
If the two brackets end up with the same number of points, then the winner is either, the bracket that has been updated the fewest amount of times or the bracket that was minted first. Will be determined based on the time that the brackets are created.
LeagueDAO is owned and operated by a community of misfits — degens, nerds, sports fans, and athletes — fed up with old school fantasy sports and motivated to push the boundaries of NFTs and web3 technology.
As a DAO-first project, LeageuDAO members are collectively driving decisions to shape the future of fantasy gaming, from IRL sports to esports and more. LeagueDAO is governed by the $LEAG token. Creators of the Nomo Leagues, CryptoFantasy and Non-Fungible Brackets.
Own your players. Own your team. Own the $LEAG.
