Everyone has played fantasy football, trying to make a team that will help you win the virtual season. Fantasy sports can be played with almost any sport, football, baseball, basketball, and many others.
Fantasy Sports are online games where users can put together a team of individual players. Players earn points based on their real-time performances and real-time statistics. The better that players on your fantasy team perform, the more points they accumulate over the season.
Understanding Fantasy Sports
Fantasy sports is an internet-based game where individuals use their knowledge of a sport and the players of the sport to create a virtual team. Players can create leagues and compete with each other; the game uses real-time statistics and real-time performances to award points to the team players. The team with the most points wins.
Fantasy Sports also gives players the opportunity to take players from any team, put them in one team, play together, and compete against other teams. TradeStars takes Fantasy Sports’ concept and takes it a step further, adding an exciting twist to it.
What Is TradeStars?
TradeStars takes the concept of Fantasy Sports and adds a new twist to it. TradeStars is a Fantasy Stocks Trading Platform powered by the Ethereum and Matic Layer 2 blockchain. Players can trade and monetize digital assets and leverage their knowledge of the game and the sport. Tokens represent the player’s statistics, and the value of the tokens goes higher or lower based on the player’s performance in the game and over the course of the season.
TradeStars is creating a Fantasy Sports Stock Exchange similar to the New York Stock Exchange (NYSE) and NASDAQ, enabling users to make a portfolio of fantasy stocks. TradeStars has over 30,000 registered users, and this number is expected to grow significantly.
How Does The Platform Work And What Are Fantasy Stocks
TradeStars is powered by the Ethereum and Matic-2 blockchain. It combines blockchain technology and fantasy sports, enabling players to leverage their knowledge. The digital assets that represent player statistics can be monetized, with the value of these digital assets influenced by players’ performance in games and over the season.
There is no fee involved if you want to join TradeStars; however, to purchase player stocks, you will need liquidity. TradeStars will operate like the NYSE or NASDAQ, with player performances and statistics will be tokenized and represented by an NFT.
Since TradeStars acts as a Fantasy Stocks Sports Market, users can create their athletes’ portfolios and manage them. Any player’s stock price would depend on the player’s performance and how many users are buying or selling that particular player stock. TradeStars launched its platform in January 2020 and currently has over 30,000 registered users.
TradeStars also announced its governance token, the TSX token, 10% of which would be released to users on the platform.
The TradeStars Website
The TradeStars website is your gateway to the fantasy stocks sports market. Traders can get just about any information that they may need before registering for the game. The website gives you early access to the game and a quick guide to how the game and platform work. The website has a detailed video explaining what the platform is and how users can play the game.
The TradeStars website also has its Whitepaper that explains in great detail the background of the game, the tokens, the platform, and the challenges that the platform has faced. It also has a brief introduction to the team behind TradeStars and its board of advisors.
So, obviously, in order to play, you will have to log in. Follow these steps to log in and get started in an instant.
- Click on “Register” on the TradeStars website.
- You will then be prompted to enter your email address. TradeStars will send a verification code to your email address.
- Enter the verification code that you have received when prompted.
- Once your email is verified, you will be signed in to TradeStars.
The dashboard is pretty straightforward, with the player stocks that are the top gainers displayed, the trading volume, and the price displayed. You can search for players through the dashboard by clicking on them. Once you find a player, you can trade them using your TSX token.
The “My Portfolio” page displays your deposits and your current balance. It allows you to keep track of the tokens that you have and your trade balance. It also allows you to deposit funds into your account directly.
The markets section is where all the fun is. It displays all the players in the game, their prices, and the option to trade or buy them. The market section is divided into two sections, “Cricket” and “Soccer.”
The Cricket section allows you to trade cricketers, while the Soccer section allows you to trade soccer players. Users can choose between the two sports and create their fantasy stocks portfolio.
The “About” section consists of a highly detailed FAQ section that answers pretty much every question about the game that you can think of. The FAQ section is a great place to get started before you start playing TradeStars.
The game rules section defines the player scoring system and player positional eligibility. The rules are segregated for each game, and users can look up the scoring and the rules under the relevant tabs.
TradeStars is an alternative to traditional Fantasy Sports games, using blockchain technology and creating the world’s first decentralized trading market for fantasy stocks.
Transactions and trade executions will be managed by smart contracts that are based on the Ethereum and Matic 2 blockchain. If TradeStars can achieve what it has set out to, it can create a revolutionary platform and change the fantasy sports space.
Source: Live Bitcoin News