Home / Cryptocurrency / Blockchain-Based Fantasy Sports Platform MyDFS Raises US$1M; Ex-Facebook Exec Joins Advisory Board

Blockchain-Based Fantasy Sports Platform MyDFS Raises US$1M; Ex-Facebook Exec Joins Advisory Board

MyDFS, a blockchain-based day-to-day fable sports activities platform, has raised US$1 million from LD Capital and added former Fb and Skype government Akin Babayigit into its advisory board, the startup introduced on Thursday. Babayigit will lend a hand MyDFS with the impending world release of its app.

MyDFS mentioned the brand new investment might be used to fortify the present blockchain platform and enlarge MyDFS services and products in another country. It comes only a month after the startup raised US$2 million from investor Frank Fu, managing director at Chinese language tech corporate Meitu, the Chinese language photo-sharing platform with greater than 450 million customers. Fu joined MyDFS as a board guide.

MyDFS is making ready for the comfortable release of its blockchain-based cell app with a rollout in Australia and India scheduled for later this week. The startup mentioned it is going to be amassing information and figuring out insects with a view to optimize the platform previous to the worldwide release set to happen in early June 2018, proper ahead of the FIFA Global Cup, the biggest football championship of the 12 months. MyDFS mentioned it is going to be on the lookout for feedbacks from gamers.

Headquartered within the Isle of Guy, MyDFS intends to make use of blockchain generation to simplify the day-to-day fable sports activities revel in. The corporate’s upcoming cell app guarantees to offer fable sports activities gamers with the entire conventional DFS options, with the added safety and transparency that blockchain gives. Avid gamers will be capable of use MyDFS tokens as in-game forex to go into the video games, draft their very own lineups, and play towards different customers at the platform. The platform may even come with participant brokerage options, which is able to permit rookies to rent pro-players to win fable leagues on their behalf.

Viktor Mangazeev, CEO of MyDFS, mentioned the platform is a mixed resolution that makes fable sports activities video games informal and easy-to-play.

“Our workforce has been development fable sports activities apps since 2015. We determined to merge our present platform with blockchain to unravel primary business issues and convey transparency to fable sports activities,” he mentioned.

LD Capital, which claims to boast one of the vital longest-running and biggest crypto funding organizations in China, has made investments into startups and initiatives akin to Qtum, Vechain, and EOS. MyDFS is the most recent mission the company is making an investment in.

Yi Lihua, founding spouse at LD Capital, mentioned that whilst the fable sports activities marketplace was once well-developed within the West, Asia stays a quite untapped marketplace, giving a chance for MyDFS to transform a regional chief.

“The Western international is obsessive about fable sports activities. The fable sports activities target market in the USA and Canada has already exceeded 65 million other folks, however there are just a few other folks accustomed to the business within the Asia marketplace,” he mentioned. “MyDFS would be the first corporate bringing fable leagues to the Asian.”

Delusion sports activities is a US$7.22 billion business that continues to develop, in line with a analysis by way of Ipsos Advertising and marketing for the Delusion Sports activities Industry Affiliation (FSTA). The analysis estimates that there are these days about 59.three million fable sports activities gamers in the USA and Canada.

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