FANEX - Blockchain Based Daily Fantasy Sports Betting

Hello everyone, readers of my blog Syndrome ICO. I will explain a bit about the crypto currency project FANEX.

About FANEX

Fanex is a fresh take on fantasy sports bettingPick the athletes you think will perform well and follow along as their token prices rise and fall! Use tokens to make bets in fantasy sports games or just HODL! Whether you own tokens over multiple sports or just one, you’ll be able to collect, trade and bet with other fans around the world.

Will you load up on all-stars or focus on undiscovered up-and-coming talent? It’s all up to you! Fanex has plans to support all major sports leagues as well as MMA, Boxing, NASCAR, Tennis and Esports! Games won’t just be limited to those Fanex builds itself. Developers are able to build on our platform and make their own apps which incorporate Athlete Tokens.

Daily fantasy sports (DFS) are a subset of fantasy sport games. As with traditional fantasy sports games, players compete against others by building a team of professional athletes from a particular league or competition while remaining under a salary cap, and earn points based on the actual statistical performance of the players in real-world competitions. Daily fantasy sports are an accelerated variant of traditional fantasy sports that are conducted over short-term periods, such as a week or single day of competition, as opposed to those that are played across an entire season.

Meanwhile, The blockchain technology has now evolved manifolds in last decade from just a cryptocurrency technology to a distributed ledger technology that is taking different industries by storm.This technology ensures immutability, tough security, anonymity, transparency, disintermediation, validation and authentication in the system where it is implemented. Translating Fantasy Sports business into a blockchain world could have even more potential, turning the reward system into a cryptocurrency nirvana.

With the number of fantasy sports players in North America heading past 60 million, and the industry said to be worth more than $7 billion, fantasy sports games are clearly on the rise. This is the aim of numbers of blockchain-based fantasy sports startups was created. One of them is FanEx.io

What Is FANEX ?

FanEx.io is a blocckchain-based fantasy sports betting startup. FanEx.io was created out of the growing demand for a fantasy sports platform utilizing a safe and secure Ethereum Blockchain Technology.

Developed by BetAmerica, which made its name in online gambling in horse racing, FanEx.io is a creative and decentralized fantasy sports betting site with an emphasis on security and costumer service.

“We hold player money in safekeeping and we provide good customer service,” John Ford, head of BetAmerica.

The Types of Daily Fantasy Games That FanEx,io Offers
One of the keys to understanding how a Fantasy Sports website works is knowing which types of games they offer. FanEx.io offers different kinds of of DFS games in the following sports:

NFL Football
Soccer
Major League Baseball
NBA Basketball

Coming soon: all major sports leagues, MMA, Boxing, NASCAR, Tennis and Esports!

With those games, BetAmerica hopes to turn fantasy sports on its head. The company says it has already built a reputation as a trusted site, where it can hold lots of money in accounts for horse racing fans. Now it is turning to fantasy sports to attract a wider audience.

How FANEX Fantasy Sports Betting Works ?

In order to play on FanEx fantasy-like betting games and competitions, A player needs to have Athlete Tokens. Two token holders each select a token and agree on a statistic to determine the winner with the loser giving up their token.

For example, you could bet another fan a single token that Stephen Curry will score more points than LeBron James in an upcoming game — and if Curry does, you’ll receive both tokens.

You can get Athlete Tokens by purchasing Fanex Coins in the Fanex Private Sale, Pre-Sale, and Token Sale. Fanex Coins will be converted into Athlete Tokens at a rate of 1 to 1. Once a Fanex Coin is converted into an Athlete Token the Fanex Coin will be forever burned, resulting in a shrinking total supply.

In addition, If you want to use an alternative, you are free to go for HODL, trade, and exchange your Athlete Tokens. FanEx platform will also allow developers to build their own applications which incorporate Fanex tokens, creating more fun ways to use and win Athlete Tokens.

Is FANEX Legal ?

Yes, it is legal due to the exception for Fantasy sports in the Unlawful Internet Gaming Enforcement Act. This law is basically one of the lamest things the US government has devised to try to prevent people from gambling online. However, in this law, it designates fantasy sports as a game of skill rather than a game of chance. In virtually every state, fantasy sports is also considered a game of skill, but as always there are few states that have questionable laws and FanEx doesn't accept paid entry games from people in a number of states.

Roadmap

Our initial exchange launches of NBA, FIFA, Champions League and Premiership represent ideal entry points due to the global popularity of soccer, basketball and blockchain.

Q4 2018
Airdrop and token sale promotions
iOS app prototype

Q1 2019
Token Sale
Launch of Fanex Alpha with NBA support
Fanex Wallet

Q2 2019
Public beta
First betting games released
Addtional fantasy games developed in-house
FIFA, Champions League and Premiership support

Q3 2019
Web soft launch
Developer SDK start
eSports
NFL and NHL support added

Q4 2019
Launch of Fanex developer platform
First third-party games are released on Fanex
Support for MLB, UFC, Bellator and PGA

H1 2020
Support for over 10 sports leagues
Large betting game portfolio

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FANEX - Blockchain Based Daily Fantasy Sports Betting