More than 12,000 people have signed up for fantasy football, with other sports on tap, including soccer and basketball.
Secure Funds, Instant Payouts, Zero Fees
Phantasia Sports offers a season-long fantasy football platform that users can join for free or sign up for an amount of their choice.
“Phantasia is the first of its kind platform to bring fantasy sports on-chain resulting in many innovations,” Dan, CEO of Phantasia Labs, told Web3Wire. “This allows the users to benefit from smart contract technology by having their funds securely stored on-chain and get paid instantly when they win, unlike competitors. Additionally, it allows companies like Phantasia to build unique business models and charge 0% fees for our season-long contests that just launched!”
Phantasia has been teasing the community for a while regarding the upcoming football platform. The season-long fantasy platform is the first among the other platforms to come, including for soccer and basketball. More than 12,000 people have already signed up to be on the waitlist for Phantasia’s football platform, which is scheduled to be launched on July 23.
According to comments shared exclusively with Web3Wire, Phantasia provides the following benefits over other prevalent fantasy sports platforms like Yahoo, Fantrax, ESPN, etc.:
Phantasia has zero fees, so there will be no percentage cut or a flat rate. Additionally, as the platform is fully automated, league dues and prize payouts no longer need to be sorted out by commissioners.
Users on Phantasia can take full control of their league and league identity. With no need to purchase skins, you can customize your team with your own collectibles.
The platform allows users to enjoy their fantasy football experience all on one app. There is no need to use external apps to collect or distribute payment. You can always stay in touch with your league and community with Phantasia’s in-app chat. Additionally, no ads will be displayed within the app.
As reported in an earlier article from Web3Wire, Phantasia launched its app on March 30. There are three different game modes available for fantasy sports competitions, including NFL Football, NBA Basketball, and Premier League Football (Soccer):
Winner Takes All: Highest score wins the entire prize
50-50: Top 50% of participants win the same prize
In The Money: Top participants win prizes based on rank
Further, the protocol also launched paid entry contests and staking of the $FANT tokens on April 12.
In contrast to free-to-play games, paid-entry contests offer a chance to win bigger prizes. Participants who enter a contest with cryptocurrency contribute to a prize pool divided among the winners, depending on the contest type.
In addition, $FANT staking results in users paying less for platform fees, earning more from contests, and supporting Phantasia’s long-term health. As a result of the new staking feature, the more you stake, the fewer platform fees you will have to pay to the DAO treasury. Learn more about the paid entry contests and $FANT staking in this article from Web3Wire.
What is Phantasia Sports?
Phantasia is a Solana-based fantasy sports platform. The platform aims to provide users with an all-in-one fantasy sports experience for various sports such as American Football, Soccer, and basketball.
Users can create their own Fantasy Sports leagues and host them as public or private tournaments. This use case may interest NFT projects, as they can host private tournaments for their community. Phantasia uses NFT technology to revolutionize Fantasy Sports in-game identities.
Users have complete control over their profile’s look, and items can be sold on secondary markets (not in the app). Additionally, you can unlock AI-powered tools to help you set rosters in these NFTs.
The platform allows for traditional fantasy sports while putting the league in the hands of the players. The Phantasia model is a Play To Earn game where users can participate in contests to earn the FANT token. The platform is based on the idea of club owners who create private or public fantasy leagues.
The FANT token is useful because it unlocks features for club owners and anyone who joins their leagues. The FANT token also governs the Phantasia DAO. The DAO decides how to spend the treasury and prioritizes the Phantasia protocol’s development.
Learn more about Phantasia:
Source : web3wire
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