Fantasy Football League to Raise $100 Million in Crypto ICO

A blockchain startup wishes to raise almost $100 million dollars to make a new sort of fantasy soccer.

Called that the Crown League, the job’s owner advised CoinDesk on Tuesday it attempts to form an expert fantasy football league, together with 12 teams originally, which will jointly be possessed by enthusiasts through the system’s crypto tokens. In a few respects, the team will behave like some other fantasy leagues, but it differs in being one, unified entity managed by professional supervisors and possessed by the public.

— that the company behind the Crown League — advised CoinDesk that dream soccer presently is “incredibly fragmented.” “Nobody cares about other teams,” he explained.

“All you can do is prognosticate who you can trade, who you can start, but you’re talking to millions of people who have their own teams,” he clarified. The Crown League attempts to combine dream fans by providing them shared possession of one group on a blockchain, making sure “for the first time you can feel like an owner.”

These teams will be run and staffed by real expert match supervisors and front office personnel, with nominal holders capable to affect decisions within every group. Token holders may also have the ability to vote to employ or substitute group supervisors.

“We are going to give you access to, as a fantasy enthusiast, and there are tens of millions of them in the United States alone; we are going to give you access to the people playing at the highest level. You can follow the experts,” Nissanoff advised CoinDesk.

He additional:-LRB-*******)

The company has also declared a token pre-sale, which can be anticipated to increase 30 million over 60–90 days. The sale, that will function as a Simple Agreement for Future Tokens (SAFT) fundraiser, will soon be available to accredited investors via a law D offering.

The pre-sale is going to be followed closely by 12 “micro-ICOs” of $5 million apiece, with each representing another staff and open to the public by means of a regulation A+ exemption, meaning it’s going to have to be accepted by the U.S. Securities and Exchange Commission. Nissanoff anticipates the public earnings to happen somewhere between the conclusion of 2018 along with the first quarter of 2019.

The platform will start on an evaluation network round December and is expected to begin whole operation by next summer. As for example, the very first appropriate season should start in the fall 2019 in the onset of this National Football League season.

The pioneer in blockchain information, CoinDesk is a media outlet that tries for the greatest journalistic standards and abides with a strict set of editorial policies.
Original post first appeared in https://www.coindesk.com/crypto-powered-fantasy-football-league-to-raise-100-million-in-ico/

Leave a Reply