Solutions For Fantasy Sports Issues Offers Blockchain Project Fantasy Gold Coin
Have you ever imagined a scenario whereby the top players in a sporting league all belong on the same team?
What if I tell you there is a way for you to find out how great such team will be? Awesome!
This brings us to the topic of fantasy sport. Fantasy sport is an activity that perfectly depicts the use of superior brain power to bring imaginations to life.
For those who are just hearing about Fantasy sport for the first time, your first thought when you saw the word was probably the right one. It is basically a type of game that has to do with assembling imaginary teams of real players of a professional sport.
What makes Fantasy sport different from just a game is the fact that these teams compete based on the statistical performance of those the selected players in their various leagues.
According to the Fantasy Sports Trade Association, in the U.S alone, there are about 15 million people playing fantasy football and spending about $150 a year on average, making it a $1.5 billion industry.
As expected with anything important to
Fantasy Gold Coin
According to information found on its official website, the project basically functions as an in-game currency used in contesting and paying of prizes. The coin also functions as a payment processing network. As an open source crypto blockchain, Fantasy Gold Coin makes provisions for fantasy sports developers to develops and integrate their unique applications.
Fantasy Gold project focuses mainly on fantasy sports. However, the project also has an eSports platform—FGCArena.com. On the Fantasy Gold platform, any user that is able to amass up to 10,000 Fantasy Gold Coins (FGC) will be able to run a Raspberry Pi or a
Fantasy Gold Coin And Fantasy Sports
Several sports contest will be hosted on the Fantasy Gold Coin branded website, and these sports contest will be hosted daily. The company’s website is DraftDaily.com, and there, users of the website are given the opportunity to compete with and against each other. The company’s proprietary Daily Fantasy Sports (“DFS”) platform is what its website uses.
On the website, there are daily and weekly fantasy sports contests offered, which allows winners to be awarded various prizes in Fantasy Gold Coin.
Fantasy sports leagues that are operational on the website includes MLB, NFL, NHL, and NBA. Fantasy Cricket is another fantasy sports league that the project is hoping to add soon, and this will be launched in 2019, after which Fantasy Soccer will be launched. On these fantasy sports leagues, purchases are done with the Fantasy Gold Coins, and users can buy coins directly with their Debit and Credit Cards.
The Issues Fantasy Sports is Facing
Websites that engage in Fantasy Sports are given a 10% commission per contest on the website. This definitely seems like a lot of money, considering the fact that it helps developers of these websites generate funds. However, an average of five percent credit card processing charge is placed on each contest, thereby indirectly reducing the gain to a 5% commission.
Another problem faced in Fantasy Sports is that deposits made by players can be frozen, and it could also be stolen. There is also a high risk of fraudulent deposits and chargebacks
Solutions For These Fantasy Sports Issues
It is important to implement a more secure solution which is also cost-effective. For the problems mentioned above to be solved, the Fantasy Gold was created. With Fantasy Gold, costs of transactions are extremely reduced. Players on the website can confidently make deposits thanks to the platforms open ledger and Blockchain. Their funds are safer and these funds will only be used to payout prize pools.
Fantasy Gold eSports Competitions
The company’s proprietary eSports platform FGCArena.com will host one on one versus contests, as well as eSports tournaments. The in-game currency for these contests and tournaments is the Fantasy Gold Coin, and it is also the currency for awarding prizes to players on the platform. There will be live events on the platform, and this attracts extra cash prizes. These additional cash prizes are gotten from crowdsourcing and also given by sponsors who partner with Fantasy Gold. Millennial eSports is one of Fantasy Gold’s partners, as they look to organize the various tournaments and events that will be conducted in Las Vegas, at their eSports Arena.
The Problems Of eSports And The Solutions Fantasy Gold Is Offering
The problems eSports is facing is similar to that faced by Fantasy Sports, as its payment processors also get to place a 5% charge as processing fees. Another problem is that there is a high risk of chargebacks and disputes. The FGC, when used creates a more flexible platform for users, as competition holders and competitors for eSports contest pay processing fees as low as 0.001 FGC. This also eliminates the chances of chargebacks and disputes.
The effect of the mainstream audience when it comes to the success of a blockchain project can never be sidelined. With an increasing interest in Fantasy sport, Fantasy Gold Coin is expected to gain ground and further drive the advancement of blockchain technology.
