For many years, fantasy sports have been a part of the pop culture zeitgeist. From everyday people forming teams from the comfort of their homes to international competitions with thousands of dollars won, fantasy sports has undoubtedly found its niche.
With the new digital era, especially with blockchain and social media, fantasy sports are evolving with the times. In terms of the former, initiatives that help fantasy sports players enjoy their games more and potentially profit from their efforts are being launched.
Play2Earn has been a solid concept in blockchain for a while, and now, fantasy sports are getting the same treatment. For example, Fanfury, a blockchain-based fantasy sports platform, unveiled its rewards system that fully taps into the community and financial quality concepts.
How Fanfury Works
Fanfury offers a lot of the usual features that fantasy sports fans would want; the chance to create virtual teams using real players and having their performance based on real-life events. However, there is a bit of a twist in how teams get formed and rewards- given.
First, there is the option to ‘own’ teams financially. In typical fantasy sports setups, the team is virtually ‘owned’ by a person or group of people who split the winnings.
With Fanfury, a user can own one of the 250 teams across five different games. Fan clubs get owned through the bidding or auctioning method where an intending owner brings in at least 5000 people who pay a certain amount into this pool. After the team gets allocated to an owner, they can bring in new members who also pay to join its Fan club.
The funds that the team owner and members pay are ‘staked’, meaning they get locked away for a certain amount of time. Out of the 250 teams on Fanfury, a leaderboard gets created.
The teams with the most money staked are ranked highest on the list. The profits made by the ecosystem (from its raking fees) gets shared. 1% goes to the top team owner, 19% gets split among the members and the rest across the other 249 teams.
The stark difference between this system and the typical fantasy sports setup is that everyone wins somehow. Whether or not a players’ team wins the individual or team competitions or is even at the top of the Fan club leaderboard, they will receive some reward as long as they join a team.
The decentralized and democratic nature of blockchain means that there is no winner-takes-all approach to fantasy sports, making for a healthier ecosystem.
Those who own teams can sell them later after becoming more established and valuable to outsiders. There are also rewards for those who provide liquidity for the ecosystem.
Now, in exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading.
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading.
Read this Term for providing liquidity for $FURY-UST pairs, users get $FURY at a discounted price. The $FURY-UST liquidity
Liquidity
Liquidity is at the core of every broker’s offering. It is a basic characteristic of every financial asset – be it a currency, stock, bond, commodity or real estate. The more liquid an asset is, the easier it is to sell and buy on the open market. Foreign exchange is considered to be the most liquid asset class.Brokers can source liquidity from a single or multiple source, thereby delivering to their clients enough market depth for their orders to get filled. The main characteristic of liquidity is its depth, which will determine how quickly and how big of an order can be executed via the trading platform.Understanding LiquidityLiquidity can be internal or external depending on the size and the book of the broker. Companies which are large enough and have material client flows consistently are creating their own liquidity pools from the order flow of their clients, thereby internalizing flows and saving on costs to send customer orders to the interbank market. By doing that however they are exposing themselves to carry the risk on the trade.Liquidity providers can be prime brokers, prime of primes, other brokers or the broker’s book itself. Traditionally brokers are split between internalizing flows and offloading trades of their clients to different liquidity providers.Generally, retail brokers and their clients prefer more liquid assets which lead to better fill rates and less slippage. When there is lack of liquidity on a certain market, slippage can occur – the order is executed at a price which is the closest available to the one requested by the client.
Liquidity is at the core of every broker’s offering. It is a basic characteristic of every financial asset – be it a currency, stock, bond, commodity or real estate. The more liquid an asset is, the easier it is to sell and buy on the open market. Foreign exchange is considered to be the most liquid asset class.Brokers can source liquidity from a single or multiple source, thereby delivering to their clients enough market depth for their orders to get filled. The main characteristic of liquidity is its depth, which will determine how quickly and how big of an order can be executed via the trading platform.Understanding LiquidityLiquidity can be internal or external depending on the size and the book of the broker. Companies which are large enough and have material client flows consistently are creating their own liquidity pools from the order flow of their clients, thereby internalizing flows and saving on costs to send customer orders to the interbank market. By doing that however they are exposing themselves to carry the risk on the trade.Liquidity providers can be prime brokers, prime of primes, other brokers or the broker’s book itself. Traditionally brokers are split between internalizing flows and offloading trades of their clients to different liquidity providers.Generally, retail brokers and their clients prefer more liquid assets which lead to better fill rates and less slippage. When there is lack of liquidity on a certain market, slippage can occur – the order is executed at a price which is the closest available to the one requested by the client.
Read this Term plays a vital role in ensuring that the $FURY tokens are liquid enough to act as in-game rewards and staking currency.
Community Games
From its team ownership system to its rewards mechanism, Fanfury emphasizes the community aspect of fantasy sports and does so significantly. The use of smart contracts and blockchain means that the system is as transparent as possible while also maintaining its efficiency on all levels.
For many years, fantasy sports have been a part of the pop culture zeitgeist. From everyday people forming teams from the comfort of their homes to international competitions with thousands of dollars won, fantasy sports has undoubtedly found its niche.
With the new digital era, especially with blockchain and social media, fantasy sports are evolving with the times. In terms of the former, initiatives that help fantasy sports players enjoy their games more and potentially profit from their efforts are being launched.
Play2Earn has been a solid concept in blockchain for a while, and now, fantasy sports are getting the same treatment. For example, Fanfury, a blockchain-based fantasy sports platform, unveiled its rewards system that fully taps into the community and financial quality concepts.
How Fanfury Works
Fanfury offers a lot of the usual features that fantasy sports fans would want; the chance to create virtual teams using real players and having their performance based on real-life events. However, there is a bit of a twist in how teams get formed and rewards- given.
First, there is the option to ‘own’ teams financially. In typical fantasy sports setups, the team is virtually ‘owned’ by a person or group of people who split the winnings.
With Fanfury, a user can own one of the 250 teams across five different games. Fan clubs get owned through the bidding or auctioning method where an intending owner brings in at least 5000 people who pay a certain amount into this pool. After the team gets allocated to an owner, they can bring in new members who also pay to join its Fan club.
The funds that the team owner and members pay are ‘staked’, meaning they get locked away for a certain amount of time. Out of the 250 teams on Fanfury, a leaderboard gets created.
The teams with the most money staked are ranked highest on the list. The profits made by the ecosystem (from its raking fees) gets shared. 1% goes to the top team owner, 19% gets split among the members and the rest across the other 249 teams.
The stark difference between this system and the typical fantasy sports setup is that everyone wins somehow. Whether or not a players’ team wins the individual or team competitions or is even at the top of the Fan club leaderboard, they will receive some reward as long as they join a team.
The decentralized and democratic nature of blockchain means that there is no winner-takes-all approach to fantasy sports, making for a healthier ecosystem.
Those who own teams can sell them later after becoming more established and valuable to outsiders. There are also rewards for those who provide liquidity for the ecosystem.
Now, in exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading.
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectively relevant with real-time pricing.Depending upon where you reside, an exchange may be referred to as a bourse or a share exchange while, as a whole, exchanges are present within the majority of countries. Who is Listed on an Exchange?As trading continues to transition more to electronic exchanges, transactions become more dispersed through varying exchanges. This in turn has caused a surge in the implementation of trading algorithms and high-frequency trading applications. In order for a company to be listed on a stock exchange for example, a company must divulge information such as minimum capital requirements, audited earnings reports, and financial reports.Not all exchanges are created equally, with some outperforming other exchanges significantly. The most high-profile exchanges to date include the New York Stock Exchange (NYSE), the Tokyo Stock Exchange (TSE), the London Stock Exchange (LSE), and the Nasdaq. Outside of trading, a stock exchange may be used by companies aiming to raise capital, this is most commonly seen in the form of initial public offerings (IPOs).Exchanges can now handle other asset classes, given the rise of cryptocurrencies as a more popularized form of trading.
Read this Term for providing liquidity for $FURY-UST pairs, users get $FURY at a discounted price. The $FURY-UST liquidity
Liquidity
Liquidity is at the core of every broker’s offering. It is a basic characteristic of every financial asset – be it a currency, stock, bond, commodity or real estate. The more liquid an asset is, the easier it is to sell and buy on the open market. Foreign exchange is considered to be the most liquid asset class.Brokers can source liquidity from a single or multiple source, thereby delivering to their clients enough market depth for their orders to get filled. The main characteristic of liquidity is its depth, which will determine how quickly and how big of an order can be executed via the trading platform.Understanding LiquidityLiquidity can be internal or external depending on the size and the book of the broker. Companies which are large enough and have material client flows consistently are creating their own liquidity pools from the order flow of their clients, thereby internalizing flows and saving on costs to send customer orders to the interbank market. By doing that however they are exposing themselves to carry the risk on the trade.Liquidity providers can be prime brokers, prime of primes, other brokers or the broker’s book itself. Traditionally brokers are split between internalizing flows and offloading trades of their clients to different liquidity providers.Generally, retail brokers and their clients prefer more liquid assets which lead to better fill rates and less slippage. When there is lack of liquidity on a certain market, slippage can occur – the order is executed at a price which is the closest available to the one requested by the client.
Liquidity is at the core of every broker’s offering. It is a basic characteristic of every financial asset – be it a currency, stock, bond, commodity or real estate. The more liquid an asset is, the easier it is to sell and buy on the open market. Foreign exchange is considered to be the most liquid asset class.Brokers can source liquidity from a single or multiple source, thereby delivering to their clients enough market depth for their orders to get filled. The main characteristic of liquidity is its depth, which will determine how quickly and how big of an order can be executed via the trading platform.Understanding LiquidityLiquidity can be internal or external depending on the size and the book of the broker. Companies which are large enough and have material client flows consistently are creating their own liquidity pools from the order flow of their clients, thereby internalizing flows and saving on costs to send customer orders to the interbank market. By doing that however they are exposing themselves to carry the risk on the trade.Liquidity providers can be prime brokers, prime of primes, other brokers or the broker’s book itself. Traditionally brokers are split between internalizing flows and offloading trades of their clients to different liquidity providers.Generally, retail brokers and their clients prefer more liquid assets which lead to better fill rates and less slippage. When there is lack of liquidity on a certain market, slippage can occur – the order is executed at a price which is the closest available to the one requested by the client.
Read this Term plays a vital role in ensuring that the $FURY tokens are liquid enough to act as in-game rewards and staking currency.
Community Games
From its team ownership system to its rewards mechanism, Fanfury emphasizes the community aspect of fantasy sports and does so significantly. The use of smart contracts and blockchain means that the system is as transparent as possible while also maintaining its efficiency on all levels.
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Tech Daily 
