Football season is nearly upon us, as fans gear up for another exciting Fall of NFL football. Fans have increasingly turned to fantasy football as a way to get further into the games and add another element of excitement and competition with your friends and family. Blockchain capabilities could help make fantasy football even more interactive and fun.
Fantasy football is fast becoming America’s favorite pastime – and newcomer Crown League intends to take it out of the realm of the spectator sport. The blockchain start-up is taking cues from several recent endeavors that seek to leverage city-based teams to encourage brand loyalty. To this end, they are seeking a $100 million total ICO that will fund their new project.
They intend for their paired tokens to operate as the catalyst for internal team decisions. This is not the first time that cryptocurrency has been used as a voting mechanism – in fact, this is a common governance method for blockchain projects. However, it does mark the first time that it has been used to make on-the-spot decisions in a competitive environment.
What is the Crown League?
As outlined by Crown League CEO Dan Nissanoff, fantasy football has one major problem. Every player is an island unto themselves. Football itself encourages team loyalty and the building of a community. When each individual player has their own team, this falls to the wayside. The Crown League intends to fix this through establishing 12 city-based teams. Users will then be able to use their league and franchise tokens to influence decision making by the team’s management.
A similar process helped push Blizzard’s Overwatch League into the mainstream. Overwatch League introduced city-based teams and saw viewer engagement sky rocket. The draw of fantasy football – managing your own team – remains intact through the cryptocurrency voting system. In turn, the value of winning franchises will increase in comparison with losing teams. Rather than a single championship pot, users gain value by investing in teams that they believe can win.
Blockchain and Sports
Crown League is not the first sports related blockchain – multiple sports betting cryptocurrencies entered the market during the altcoin boom. More recently, the Sacramento Kings opened a massive data center within their stadium in order to mine Ethereum for charity. The data center will support a cryptocurrency mining program, whose profits will go directly to supporting local charities. The Kings were also the first professional sports team to accept payment through cryptocurrency.
By: Adam Stone