Fantasy sports has transformed the sports industry and changed the way fans engage with sports.
Billions of sports fans across the world engage with fantasy sports apps and websites, and the numbers are increasing by the day.
Per Brandessence Market Research, the global fantasy sports market was worth USD 20.69 Billion in 2020 and is expected to hit the USD 48.07 Billion mark by 2027 - a CAGR of 12.8%.
With fantasy sports becoming a raging sensation on the internet, TradeStars is further upping the game while combining the burgeoning sports industry with the stock exchange model.
What is TradeStars?
TradeStars is a fantasy sports platform powered by the Ethereum and Polygon layer 2 blockchains where users trade digital assets that represent real-life events and athletes' performances.
The value of the digital assets is influenced by actual sporting events and the performance of the players.
TradeStars hopes to create a fantasy sports exchange, similar to the workings of a stock exchange.
Unlike the conventional fantasy sports game where players build virtual teams and compete for supremacy, TradeStars enables users to build a portfolio of fantasy stocks.
How does TradeStars work?
TradeStars is the world's first fantasy sports trading platform based on the Ethereum blockchain.
The company allows a player to buy/sell fantasy stocks of their favourite sports players.
This ushers a new genre in the fantasy sports industry.
Unlike traditional fantasy games, TradeStars acts as a fantasy sports stock market, allowing players to create a portfolio of their favourite athletes and experience the thrills of managing them.
A player's stock price would depend on the market demand, just like the conventional stock market.
If a lot of fantasy players are buying a certain player/ athlete's stock, the price would increase, and on the other hand, if players are on a selling spree, the price is bound to experience a drop.
For example, If one buys the fantasy stock of Virat Kohli and the Indian skipper scores an ODI hundred, his token price increases and the owner of his stock stands to make a profit.
The TradeStars platform can be considered a Decentralized Exchange (DEX) for Fractional NFTs, where economic incentives for users in the game are connected to real-life statistical data.
Users are paid out proportional to the amount of stock they hold and the corresponding performance of athletes.
Once a user purchases a stock in the form of an athlete, he/ she stands a chance to win daily or monthly payouts based on the athlete's ongoing performance on the pitch.
So far, TradeStars features just the sport of cricket. However, it soon plans to expand its offerings to Football, Esports, Basketball and NFL among others.
What makes TradeStars unique?
The uniqueness of TradeStars lies on the proposition that in other daily fantasy sports games, one must create a team of 11 players from which his/her winnings gets determined.
More so, the team is only valid for a given match.
TradeStars, however, allows a person to purchase any player's fantasy stock and hold it for a longer period of time.
Besides, the duration of most other fantasy sports formats mirrors the duration of a given match or fixture. TradeStars, meanwhile, allows a person to play anytime they want - even between live games.
Also, TradeStars is open 24 hours a day and 7 days a week.
What's more, while other fantasy sports platforms don't allow a player to make long-term profits, TradeStars does just that - enable users to create a portfolio of athletes, dig in for the long haul and watch their stock grow.
Key features of TradeStars
- A deposit and withdraw option in the native currency of the user (INR and other currencies)
- Dividends that are influenced by real-life statistics
- User-friendly API + User Interface
- A 24*7 platform (users can buy/sell fantasy stocks anytime they want)
- Transparent and secure
- True digital ownership of a user's asset.
TradeStars, therefore, provides an exciting alternative to traditional fantasy sports games.
It is truly the world's first decentralized trading market for fantasy stocks.