PRESS RELEASE. TradeStars released “Olympic Torch”, the mainnet of their fantasy sports stock trading game, on December 31st.NS August 2021.
The new Fantasy Sports Game from TradeStars enables users to trade fantasy stocks of world-class athletes whose value is directly influenced by the real performance statistics of the respective player. For the time being, the fantasy stocks can be bought via USDT; Fiat payment gateways (for INR and USD) are on the way.
Fantasy Sports Gaming Today
Fantasy Sports Gaming has steadily increased in both popularity and rating over the past decade. The global fantasy sports market was estimated at $ 20.7 billion in 2020. A value of $ 48.1 billion is expected by 2027, growing at a CAGR of 12.8% from 2021 to 2027.
Existing fantasy sports games all operate on a similar model, in which users create their own “dream teams” of their favorite players and earn points based on the performance of their chosen athletes in real life. The top users with the maximum points usually win cash rewards at the end of each tournament or season.
In such games, users are severely limited in the choice of athletes when creating their fantasy teams, which often forces them to change their teams each time they play in order to optimize the available players. In addition, such apps are only ready for use on game days.
TradeStars has introduced a completely new sports gaming model that removes all of these limitations.
TradeStars – the NASDAQ for fantasy sports
TradeStars was designed as NASDAQ for Fantasy Sports Stocks, is based on the Ethereum blockchain and is operated by Polygon (formerly Matic). The trade market on TradeStars is open 24/7, 365 days a year.
Fantasy stocks purchased by users are transferred directly to their wallets. Every transaction is recorded on the Ethereum blockchain, which ensures complete transparency and increased security. Integration with Polygon’s Layer 2 scaling solution provides almost instant and gasless transactions, resulting in a much better user experience compared to most existing DApps.
Sports-enthusiastic users can use their sports knowledge to identify and buy the shares of promising newcomers at an early stage, which have even more potential for appreciation. This is akin to buying shares in a growing company while the price is still low.
NFT markets for fantasy stocks
TradeStars uses NFTs (Non-Fungible Tokens) to represent the real performance statistics of athletes. Instead of issuing a single NFT to represent every single athlete (or fantasy stock), TradeStars uses the concept of fractional NFTs and outputs what are known as “NFT markets”.
The NFT markets allow buyers and sellers to buy or sell any number of fantasy stocks, including fractions. This significantly increases the liquidity of the Fantasy Stocks while giving buyers the flexibility to invest exactly as much money as they want.
As of now, TradeStars has listed fantasy stocks from cricketers around the world. Some of the fantasy stocks are locked for trading and will only be unlocked once a cumulative 10,000 units of that particular stock have been purchased.
Fantasy stocks by athletes from various other popular sports will also appear on TradeStars’ roster in the coming months, starting with soccer.
TradeStars Mainnet launch
The mainnet launch event was attended by over 500 spectators. It included various events, including an interactive session with founder Christian Hentschel, with a $ 250 reward pool for the best questions. A variety of fantasy stocks from popular cricketers are unlocked by TradeStars. These cricketers had previously been selected through decentralized community voting.
At the event, Anshul Pareek, Head of Marketing, also announced various upcoming referral programs and rewards campaigns where attendees can win special editions of TradeStars Olympic Torch NFTs, among other things. The winners of the Warm Up Rewards campaign, which wanted to reward the most active participants in the testnet phase, were also announced.
Speaking about the future of TradeStars, Christian said, “TradeStars is here to transform the fantasy sports gaming sector. Now you have a Sports Fantasy game where not only can you use your sports strategies to make money, but also enjoy the thrill of fantasy stock trading whenever you want. We have only just started and will keep bringing you new features and competitions to keep your adrenaline pumping. “
Go to tradestars.app to try the new revolution in fantasy sports gaming.
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