BTC Wires: Dan Nissanoff, a 52-year-old serial entrepreneur, is mulling the creation of the world’s first professional fantasy football league over blockchain to ensure transparency in a contest that will have real money up for grabs. His idea involves launching the Crown League in 2019 where fans will be able to purchase stakes in their favourite team out of the 12 contending ones and enjoy a proportionate part of the team’s profits during the season. According to the plan, each team will have a general manager who’ll guide players selected by professional pickers every week. Nissanoff is convinced that blockchain can play a tremendous role in this venture by ensuring decentralised ownership of the teams and a completely clear and transparent process. He stated that he was excited to attempt something never seen before on blockchain and that the technology would be used to immutably record the details of the competition.
Around 60 million people participated in fantasy football in 2017, according to data from the Fantasy Sports Trade Association. However there is no one league to bring the entire space together as thousands of leagues are played around the world, both informally as well as online, completely devoid of any centralisation. Nissanoff seeks to change that by giving a common platform to all fans. Here, the fans can do more than they could have in mainstream professional leagues: they can earn profits if the team they support performs well in the contest. In addition, investing fans can influence how the team is run, and even fire general managers who they feel aren’t up to the mark.
Nissanoff claims to have already raised funds from investors and said he was collaborating with several giants in the fields of sports and technology, although he refused to reveal any details regarding the claimed partnerships. The Crown League will be selling federally approved and regulated ‘tokens’ so that anyone who is enthusiastic about fantasy football can buy parts of a team or the league itself. League tokens will be up on sale this week for a dollar each. The firm will soon launch tokens to be bought by the general public as well. Recent times have seen myriad fields embracing blockchain and cryptocurrencies and fantasy football is the newest and perhaps the quirkiest, addition to the list.