How to Make Decentralized Sports Cryptocurrencies a Reality
There's an increasing demand for decentralized sports, and the idea of betting on these games could revolutionize the sporting landscape. Fortunately, there are many different sports-related cryptocurrency projects that will help make this a reality. We'll look at AMS Fight Nights Global, LunaFi, DefiSports, and BetDEX. But how do you make these projects successful? And what is the best way to make them a reality?
BetDEX
Nigel Eccles, the founder of FanDuel, is leading the effort to build a decentralized sports exchange called BetDEX. This platform will utilize cryptocurrency and blockchain technology to provide a fast, reliable, and low-cost sports betting experience. Like FanDuel, BetDEX will use peer-to-peer betting to allow players to make and sell bets quickly and easily. This type of sports betting platform has a lot of potential, but it needs to reach mass appeal before it can become an attractive option for mainstream sports bettors. Get to know more about betting with crypto https://dexsport.io/desu.html.
The team behind BetDEX includes three former executives from FanDuel, a popular sports betting platform. Together, they have a combined 36% market share of the online sports betting market. Eccles, who was the CEO of FanDuel, will serve as non-executive chairman of BetDEX. The startup recently raised $21 million in seed funding. The company will use the Solana blockchain, which is open-sourced, to build its decentralized sports exchange. Other investors in the seed round include P, Lightspeed Venture Partners, and Sino Global Capital.
LunaFi
A new decentralized sports betting platform is in the works, with the aim of revolutionizing the industry by allowing players to earn a portion of the house profits. LunaFi decentralized sports betting platform was created by professionals, and has just released its Initial DEX Offering (IDO). The IDO consists of two major components: the gaming mechanic, and the capital raising mechanism. The gamification mechanism in LunaFi enables players to play a crypto native game called "LunaFi Crash," where bettors can bet in ETH and receive their winnings in LFI.
The first phase of LunaFi's ICO is an event gamified on the ETH blockchain, which is a permissionless space that allows only projects with a high enough value to raise funds. During the launch event, participants can earn LFI by playing a game called "LunaFi Crash" on their platform. LunaFi Crash showcases the betting platform and uses provably random smart contracts to ensure that players are paid equally. LunaFi is led by serial entrepreneur and former professional gambler George Porchester, who has assembled a stellar team of industry experts, and leveraged his vast knowledge and contacts to develop a high-quality sports betting platform.
DefiSports
The DefiSports blockchain ecosystem will connect the sports and fans using new technologies such as ZITY, AR and VR. Users will be able to participate in competitive mini-games, events and sports services, buy merchandise, and participate in virtual betting. This ecosystem will solve a number of challenges in the current sports industry, including gender inequity, poor working climates, and power imbalances.
DefiSports is led by CEO Kevin Bilal and his team are young, diverse, and innovative. They have a common goal of establishing a blockchain with limitless potential, while also adding value to the E-sports industry. In addition to Bilal, the DefiSports team includes the CTO Jason Yuan, Marketing Director Kyle Drope, Head of Communications Wessel Schipper, and IT Specialist Muhammad Maavia.
AMS Fight Nights Global
In order to make mixed martial arts more accessible, AMC is creating a decentralized ecosystem for the sport. The project has tremendous community support and received the "Blockchain Project of the Year 2021" award at the largest blockchain conference in Moscow. The project's popularity and support have prompted investors to put their money into the project. AMC is at the forefront of the mixed martial arts tokenization trend.
The team behind AMC Fight Nights Global is comprised of MMA sports veterans. Their diverse partners include professional and amateur fighters, as well as promoters and fans. They've successfully adapted blockchain tokenization to this niche sports ecosystem. While blockchain adoption in mainstream sports is booming, there's been limited adoption in niche sports like MMA. Popular football teams already have fan native tokens. But AMC Fight Nights Global is the first MMA promotion to adopt the technology.
