Jun 23, 2021 10:21 UTC
Jun 23, 2021 at 10:33 UTC
TradeStars, Get To Know Some Of The Outstanding Features Of The TradeStars Platform
Whether you have played fantasy sports or not, you probably are aware of how quickly the fantasy gaming sector is growing. Starting with fantasy football, now pretty much every sport has an online fantasy version. Fantasy sports have become hugely popular and are highly competitive, with thousands of players involved. Fantasy sports now encompass sports such as Football, Cricket, American Football, Basketball, Formula 1, and many others.
Fantasy sports have become an excellent avenue for fans to be more involved with the sports that they love and the teams that they support. In a fantasy sports platform, fans can create and manage their own team featuring their favorite players. Teams created by various users can then compete against each other, with the game tracking each player’s performance in real-time and converting it into points. The more points a team has, the higher it’ll be on the competition’s leaderboard. According to Statista, the market size of the fantasy sports sector just in the United States in 2021 will be worth $8.37 billion.
What Is TradeStars?
TradeStars takes traditional fantasy sports games and puts a huge twist on the concept. It can be described as a Fantasy Sports game powered by the Ethereum + Polygon Layer 2 blockchain. Users of the TradeStars platform can trade and monetize fractional NFTs that represent real athletes’ performance. TradeStars allows users to leverage their sports knowledge to monetize their digital assets. Users of TradeStars can buy fantasy stocks of their favorite players and create their fantasy stocks port portfolios that they will then use to compete with others on the platform. TradeStars will organize multiple competitions to give users opportunities to have fun and compete against each other.
NFT fractions representing the real athlete will fluctuate its price based on supply and demand in the market, but influenced by his/her expected real-life performance. For example, you can choose to buy fantasy stocks of your favorite cricket player to include in your portfolio. If he performs well in real life, there will increase supply and therefore the price will go up. The opposite happens if he performs poorly. Your sports knowledge is key!
TradeStars has a disruptive vision and hopes to uproot the traditional Fantasy Sports space entirely and create the world’s first Decentralized Fantasy sports built entirely on DeFi + NFT concepts.
How Does TradeStars Work?
TradeStars combines fantasy sports with blockchain technology, allowing players to leverage their sport knowledge with the creation of fantasy stocks’ portfolios. Fractional NFTs represent each player, and the players’ performance influences the monetary rewards paid to the platform users. The supply and demand of the NFT fractions sets the price of the fantasy stocks while the expected performance of the athletes drives supply and demand to the markets. The TradeStars platform is free to join; and users will be able to fund their account with a debit/credit card or by connecting their crypto wallet.
Users will be able to analyze and review the athletes’ statistics in order to make an informed decision on whether to buy or sell a particular fantasy stocks. TradeStars will also pay out regular dividends to users holding shares of top performing players as a reward for their knowledge. Dividends payments and rewards for winning competitions that TradeStars will organise are the key drivers for users to build their portfolios.
Athlete performances are tracked with several variables in play. You can check out the scoring for Cricket, soccer, and other sports in detail. TradeStars offers only Cricket, but the team is hard at work to add soccer, American Football, e-sports, and Basketball.
The $TSX Token
The $TSX token is TradeStar’s native token and its primary function is to reward participants on the platform. The token also allows token holders to participate in the platform’s governance decisions. For example, token holders will be able to vote in initiatives proposed by TradeStars..
TradeStars will also offer staking and liquidity mining functionalities.
Let us look at some of the features of the TradeStars platform.
- Continuous Liquidity – Users can acquire or sell fantasy stocks at any point in time, with every aspect managed by smart contracts.
- Blockchain technology – TradeStars is powered by the Ethereum and Polygon Layer 2 blockchains. The use of blockchain technology helps the platform ensure complete transparency and decentralization, while giving users true ownership of the platform.
- Statistics – The price of fantasy stocks is influenced by real life data. – Athletes’ performance in games and over the course of the season-. Users can compete between them in different fantasy sports contests leveraging their sporting knowledge.
- Fractional NFTs – Creating a new category, all markets on TradeStars are Fractional Non-Fungible assets. These digital assets are permanently stored on the blockchain.
TradeStars is free to join, and users only need a browser to get started with TradeStars.
TradeStars is creating the world’s first decentralized Fantasy Sports by merging interesting ideas from DeFI and Fractional NFTs, only possible by the use of the blockchain technology. All transactions are managed by the TradeStars smart contracts which in turn gives users unmatched security of their funds as well as complete transparency. The team at TradeStars is sure that the platform can bring sports fans a revolutionary, novel and disruptive way to play fantasy sports.