MyDFS ICO Review: Fantasy Sports On The Blockchain

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Fantasy sports is a popular pastime these days. People from all walks of life spend time drafting revising stats, drafting their teams, and engaging in friendly competitions.

The hobby has been around for some time, too. The first fantasy sports league can be traced back to the postwar years after WW2 but because of the obvious technological limitations of the era, they were confined to members of local communities at most.

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Fantasy sports leagues as we know them today first appeared in New York in 1980. Soon, the craze took hold, evolving into a multi-million online business with more than 60m players worldwide.

MyDFS is a brand new ICO offering a decentralized blockchain-based fantasy sports
platform where players from around the world can meet and engage in competitions.

MyDFS: fantasy gaming at a global scale, powered by blockchain tech

From humble pen-and-paper beginnings to today’s almost $7bn market cap, fantasy sports leagues have evolved into a great hobby and a major business venture.

The advent of the internet signified an explosion in the fantasy sports ecosystem. Almost overnight, hundreds of thousands of players could engage in their favorite hobby with a few clicks of a mouse.

Now, the blockchain has become the new literal playing field for fantasy leagues.

MyDFS is a veteran entity with a strong background in fantasy leagues. The company
previously developed and launched the uTrener and KHL gaming environments.

MyDFS’s current blockchain-based platform offers transparency to players through the implementation of smart contracts for every aspect of the game. Also, the tokenization of in-platform currency via the MyDFS token adds a layer of trust, as players do not need to worry about real money issues.

MyDFS in figures & quick facts

  • Token name – MyDFS
  • Total tokens issued – 125m
  • Token price (during pre-sale) – $0.7
  • Token price (during token sale) – $1
  • Pre-sale start date – April 16th, 2018
  • Pre-sale end date – May 6th, 2018
  • ICO start date – July 10th, 2018
  • ICO end date – August 9th, 2018
  • Hardcap (during pre-sale) – $3m
  • Soft cap (during token sale) – $4m
  • Hard cap (during token sale) – $40m

Notes

Bonus Program

MyDFS will run a Bonus Program, which will work thus:

  • 10% for >=$50k
  • 15% for >=100k
  • 25% for >=500k

The MyDFS token

The MyDFS token (MyDFS), which is based on the ERC-20 standard, can be used for:

  • Participating in games (paying entry fees, receiving winnings)
  • Buying in-game content and subscriptions
  • P2P transfers inside the platform
  • Investing in other players on the platform
  • Withdrawing to crypto exchanges to get other cryptocurrencies or fiat money

Once created, the tokens will be distributed as follows:

  • Pre-sale & token sale – 40%
  • Growth – 37%
  • Team – 10%
  • Advisors & early contributors – 10%
  • Bounty – 3%

The team

Learn more about MyDFS’ team here.

Social media presence and digital footprint

At time of press:

  • Twitter – 3,371 followers
  • Facebook – 59k followers
  • LinkedIn – followers
  • Telegram – 19k followers

Competition

There currently are a few platforms dedicated to fantasy sports leagues in the blockchain. RankingBall, Ligercoin, and PlayChip spring to mind.

In other words, MyDFS will face competition with a number of other entities offering similar services, so it will have to find a defining feature to make a difference.

Whitepaper

Consult MyDFS’ Whitepaper for more information about the platform, additional features and services, etc.

Read MyDFS review on ICOBench.

Conclusion

Fantasy sport leagues is a rather loved pastime. Millions of players engage in competitions every day, indulging their passion for sports.

MyDFS offers a neat proposition, backed by an impressive presence on social media and an equally impressive whitepaper, really well put together.

These factors by themselves do not guarantee success, of course, but it is a very solid start for this ICO.

We’ll revisit in due course.

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