The Crown League is Establishing a Blockchain Based Fantasy Football Platform
Next year will see the launch of the Crown League, a professional fantasy football league based on blockchain technology. The platform will go live alongside each National Football League season.
With distributed ledger technology, the Crown League will provide partial ownership of different franchises, leagues, and even revenue streams to its users. The league will work similarly to traditional fantasy football groups but will instead contain 12 community-selected, professionally managed franchises.
A Collaborative Fantasy
The Crown League website details a unified vision for fantasy football, countering it’s traditionally solitary playstyle:
“Unlike the passionate, unified fanbases that exist within professional sports, fantasy sports participation is primarily a solitary and isolated experience. The Crown League changes this by immersing its users in a vast and dynamic community of engagement.”
Each of the 12 franchises has one general manager and a front-office staff handling the daily activity of their respective team. There will be a live draft on the launch of the project to create a legacy, with all future selections limited to incoming players and free agents.
Though there will be a managing party, all team changes are subject to the vote of the stakers. If the manager isn’t a good fit, the community can vote them off. Franchises will grow in value over time, with profit distributed annually to teams based on their performance. Revenue will then be divided between token holders.
As an ETF, assets will be available on a variety of platforms, with their value fluctuating similar to other stocks and cryptocurrencies. Investors can place a stake in one team at a time, though the option to switch is always available.
Suggested Reading: To learn more about blockchain technology, check out our ‘What is Blockchain‘ beginner’s guide
Bringing Technological Experience to the Table
The Crown League co-founders, Dan Nissanoff, Derek Siskin and Mat Sposta, have decades of experience in technology, finance, and other related industries. Combining that knowledge with their love of fantasy sports, these three want to create “a new sports paradigm that blurs the line between gaming and investing, fans and owners.” The core idea is similar to many blockchain startups in that the users will profit instead of an intermediary.
According to CNN Money, the project has the attention of “big names in the sports and tech worlds,” though these are unknown entities as of now.
Summer 2019 will see the official draft of the Crown League, with the first full season coming in September of the same year. Accredited investors looking to get in early can invest in the pre-sale which has just gone live. It is assumed that the public will gain access at a later date.
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