As reported earlier by The Scope Weekly, ePlay Digital is nearing the launch of their fantasy sports augmented reality (AR) game while on November 29th, the AR sports and entertainment platform announced that ThinkTank Labs will have their pre-initial Coin Offering (Pre-ICO) which started on December 1st and will end on the 10th. ThinkTank is a partner of its subsidiary, Mobovivo, responsible for providing ePlay with its realistic sports game engine. Together they are attempting to bring sports fans from the stadiums and into their first ever decentralized fantasy sports platform utilizing blockchain technology called DFantasy. They hope that the turn out will be sufficient enough to provide them with the means to make a difference in fantasy sports.
The company’s website described it as: “a decentralized and community-driven platform based on ERC20 token standard and Ethereum blockchain.” DFantasy aims to solve the most obvious issues of conventional options like centralization, monopoly, extensive verification processes along with delayed distribution and withdrawal of funds. Despite 80-90% of fantasy sports revenue coming from industry leaders, Draftkings and Fanduel, neither has stretched their outreach globally. They plan to be the first to tap into an international market by offering daily rugby and soccer fantasy contests. One of their biggest advantages is being completely decentralized which bypasses the legal obstacles of establishing a global sports network. Additionally, this makes it so players don’t even need to set up an account to get in on the action.
DFantasy CEO, Cale Gibson, shared his enthusiasm on ePlay’s blog saying:
We are excited with the early feedback and response to the detailed information we have prepared in the DFantasy white paper. We look forward to a successful Pre-ICO and bringing great games to market.
Another exclusive area of interest for the platform is “Odd Fantasy” allowing coaches to customize their team without a fixed salary cap. So in reality, the best performing teams could go into the hands of the highest bidders. The player with more affordable athletes have better odds but lower chances of bringing home a victory. DFantasy’s unique route to international entry along with its game-changing decentralized platform may be enough to produce a successful ICO.
ICOs are now of major value for early-stage tech companies in need of capital. Players will receive FAN tokens to participate and can be purchased with popular cryptocurrencies such as Bitcoin and Ether. One ether is equivalent to 2,000 tokens. This presale has a minimum cap of 2.3 million tokens and a maximum of 5.9 million.
I think DFantasy is heading in the right direction based on the growing demand for a digital sports marketplace. Legal Sports Report said that U.S.-based fantasy platforms brought in $320 million+ in revenue for years 2016-2017. There’s not much doubt that demand will only increase over time but we’ll have to see if DFantasy has what it takes to lead the way.
At the time of publishing, we haven’t received a statement from ePlay but will update the story if new information is provided.
Do you guys play on fantasy sports networks? Would you be interested in DFantasy’s model? Do you think their vision will come to life or should they stay on the bench? Let us know what you think by dropping a note.
December 5 Update: We previously incorrectly reported that ePlay had launched an ICO. Mobovivo, ePlay Digital subsidiary company’s client -Think Tank Labs – has launched pre-sales for a new coin.