Bridging the Gap Between Fans and Their Clubs Using Decentralized Fantasy Platforms
Fantasy sports websites bring together one of the biggest communities in the world: sports fans. No matter what team you support, fantasy sports help you meet like-minded fans and engage in activities such as fantasy leagues, player trading, and more with your peers. The fantasy sports market cap was at a respectable $18.6 billion in 2019, and experts estimate it will reach $48.6 billion by 2027. Despite this large market presence, fantasy sports as a concept is rather under the radar.
The blockchain ecosystem lacks a proper fantasy sports platform due to fantasy sports’ relative obscurity and complexity when it comes to implementation. That is where Fanfury, the first decentralized fantasy sports app, comes in. Let us learn more about Fanfury from the post below.
Fanfury is a blockchain-based fantasy sports platform that allows sports fans from all over the world to connect with sports and cheer for their favorite teams. The Fanfury platform currently offers five sports: Cricket, Soccer, Football, Baseball, and Basketball. Fanfury’s mechanics are simple: choose a sport from the five mentioned above, pick a team’s fan club from the sport you chose, and enter a contest in large, multi-team tournaments or player versus player matches. With over 2000 of the world’s leading sports leagues available on the platform, there is never a dull moment when on Fanfury.
Launched in 2021, the Fanfury platform was built by gamers for gamers, with community ownership and profit-sharing as their priorities. The platform is built using the Terra blockchain platform, which makes $FURY, its native token, a stable investment when compared to many other currencies on volatile blockchain networks.
Leagues, teams, and players on Fanfury are mapped to real-world statistics with the help of decentralized data oracles. Data, from multiple oracles, is used to prevent game manipulation, creating a balanced and fair environment for all players, and not just a select few. Data oracles used are Chainlink, Supra, and Band, all acting as trustless data sources, hence eliminating the probability of tampering with the game. These data oracles update data in real-time, updating players with the latest happenings in the sports world.
The main focus of Fanfury is on building a community with fellow sports fans, which is seen in the wide variety of sports clubs it offers.
Fans and Sports Clubs
Sports clubs are often the primary driving factors behind fans and their love for sports. These clubs offer fans a common identity that brings them together, which is no less true for fantasy sports. This is why Fanfury has introduced more than 250 fan clubs for fans to join on their platform, each corresponding to a real-life sports club that takes part in leagues. When talking about fan clubs on Fanfury, there are two roles that you can play in a fan club: you can either be an owner or a member.
Compared to regular members of a fan club, the owner of a fan club is eligible for additional benefits. Owners will receive 1% of their team’s fan club’s reward allocation, as well as an equal portion of the remaining money after the deduction of the 1% share. If your fan club is at the top of the leaderboards, you will earn not just 1% of your fan club’s rewards but 1% of all rewards from all fan clubs- providing additional incentive to push your members to do their best.
Fans members of a decentralized fan club gain access to a permanent source of passive income, straight from the Fanfury protocol’s profits. This passive income is truly permanent and will continue to be paid out forever. As a fan club member, you’re as much of an owner as others, creating a democratic platform for everyone to voice their opinions and give suggestions for better rewards at the top of the leaderboard.
Claiming a fan club is completely free. All you need to do is bring in subscribers and have them vouch for you by making a bid of $100 at the minimum. If you have the greatest bid amount of everyone claiming ownership of the club, you are given ownership of the club.
As Fanfury is a community-owned decentralized fantasy sports platform, 40 percent of all rewards are distributed amongst the 250 Fan Clubs at the end of each event. This makes the Fanfury fan club model unique, incentivizing the owners and members of a club to work hard and strive for more rewards, bridging the gap between fans and their clubs.
Decentralized Fantasy Sports is the Future
In short — Fanfury is a fantasy sports platform built on Terra, bridging the gap between fans and their clubs using DAO-like mechanics in fan clubs. Read more about them here, and view their list of fan clubs here if you’d like to claim one.