Cryptocurrency18 hours ago (Feb 28, 2022 06:30AM ET)
Fanfury To Revolutionize The Fantasy Sports Industry With Its Gameplay and Staking Features
The popularity of fantasy sports continues to grow as fans keep increasing tremendously. According to reports on Gammastack, the fantasy sports industry is projected to grow at a compound annual growth rate (CAGR) of 12% till the end of 2022. Also, according to the ExpertMarketResearch, the industry was valued at $18.3 billion in 2020 and is projected to hit $40.6 billion by 2026. With the rising popularity of the sports and growing interest among fans, many blockchain-powered projects have been launched to ensure the fans have the best gameplay and trill.
One of the leading blockchain-based fantasy sports platforms is Fanfury. It is a virtual gaming metaverse that integrates daily fantasy sports, RPG Lore, and blockchain mechanics in a dysfunctional science fiction environment. Fanfury is introducing blockchain technology concepts into fantasy sports with the goal of eliminating the fundamental hurdles in the industry. Although there are many blockchain-based fantasy games, Fanfury’s unique staking and gameplay model sets it apart from the rest.
The Gameplay and Staking Features on Fanfury
Fanfury is custom-built to incentivize players and motivate them to harness the network, buy, and hold the $FURY token. The low gas fees within the ecosystem allow players to place their bets in an escrow securely. Once an event outcome has been confirmed on the blockchain network, the winners will automatically receive their pay-outs. For the gameplay, all players are assured of getting some amount of winnings. At least 70% of the players will take home some part of the prize pool. The remaining players that didn’t win will take a 20% cashback. However, the cashback is only claimable if the players stake some of the $FURY tokens in any of the Fan clubs available in the Fanfury metaverse.
The Fanfury platform attains an optimum state when most of the stakers play the game. This action will ensure there are more stakers than players within the protocol, thereby creating utility for the $FURY token. To ensure that the value of the token grows, the team is creating a deflationary economy to help reduce the number of tokens in circulation. Players who hold and stake the token will accrue more tokens as 40% of all the Rake fees are paid to stakers. By playing games and also participating in Fan clubs within the platform, players will have more chances of making more profits.
Aside from earning profits from the gameplay, participants will also take profits as the Rake fees are shared. Within the Fanfury platform, participants are the creators of their own destiny as they become owners of fan clubs of the teams they support. There are 250 sports teams available for people to claim on the basis of first-come, first-serve. Before anyone can own a team, they will have to deposit 1000 UST worth of $FURY. The owner of a team can increase the size of the team pool by inviting people to join Fan clubs via social media.
Fanfury Operational Architecture
The Fanfury platform relies on decentralized data oracles to efficiently report real match data and ensure contests are posted and resolved correctly. The protocol leverages oracle scripts and data sources to identify events to be created and listed. To ensure that all the validators are not pulling data from a single source, Fanfury protocol relies on a minimum of three different applications programming interface (API) providers.
As the fantasy sports industry continues to gain popularity, projects like Fanfury are helping to sustain the tempo and attract more fans while breaking limitations that traditional fantasy sports platforms have. You can see more information about the Fanfury project in the whitepaper. It further explains how the team is working round the clock to make the ecosystem worthwhile for participants.
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