A Web3 sports platform designed for fans uses NFTs to bring a new level of connectivity and ownership. When betting on the success of upcoming athletes.
The latter is a stepping stone to greater adoption, with fans acquiring NFT collectibles and Web3-based event tickets. While NFTs provide the industry with new levels of democracy and connectivity, which fans require.
FANtium is using NFTs to finance athletes in a new and innovative way fans can use digital assets, like bets. Leading to the future success of their favorite up-and-coming sports stars, to show their support.
This also allows the athletes to directly engage with their fans and receive finance without going through traditional channels.
NFTs offers a unique opportunity for fans to get involved with their favorite athletes in a way that was not possible before.
The platform closed a funding round on Oct. 11, backed by notable figures in both the Web3 and sports worlds such as Sebastian Borget. Co-founder and chief operating officer of the Sandbox metaverse, and professional Austrian tennis player Dominic Thiem.
Cointelegraph spoke with Jonathan Ludwig, CEO, and founder of FANtium, to learn how Web 3 technologies can help athletes achieve fractionalized and democratized success.
Ludwig clarifies that the FANtium model employs historical data from all athletes to confirm that:
“It’s about participating in an athlete’s community and career in a way that’s never been done before.”
Ludwig believes that this will eventually lead to a situation where athletes are able to secure more successful and longer careers. As they gain a larger and more dedicated following from which they can generate revenue.
FANtium plans to expand its services to other competitions, such as football, basketball, baseball, hockey, and more in the future.
The platform is currently available as a desktop application, with plans to launch a mobile app in the near future.
To ensure that users have access to the best possible experience, FANtium has partnered with eToro, one of the world’s leading social trading platforms.
The partnership will see eToro’s five million users gain access to FANtium’s services, providing the startup with a ready-made user base.
FANtium is currently in the process of launching its first product. Which is a fantasy sports betting game that uses NFTs.
According to Ludwig, the FANtium model contains data. That every athlete that has competed in that sport throughout history guaranteed:
“Sports fans have an attractive return on investment and athletes have an enticing alternative to finance their career.”
The game, which is based on the Ethereum blockchain, will allow users to bet on the future success of real-world athletes.
Recently, Karate Combat announced its plan to launch a decentralized autonomous organization (DAO). This would be fan-powered and involve athlete governance within the league.
Karate Combat is a full-contact karate league that was launched in 2018 and has featured some of the world’s top martial artists.
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