Fandom
Outlines
Non-Fungible
Token
Strategy
for Esports
Fan Rewards
Vancouver, British Columbia –
January 19,
2021 --
InvestorsHub NewsWire -- Fandom
Sports
Media Corp. (CSE: FDM) (OTC: FDMSF) (FRANKFURT: TQ43) ("Fandom" or the
"Company"), is
eager it to outline its strategy for
minting
and deploying
Non-Fungible Tokens ("NFTs") to reward Esports fans for engagement
on Fandom's All Ages
Engagement
Platform (the "Platform").
NFTs are a type of cryptographic token that are not fungible and
not mutually interchangeable. NFTs were developed to create
verifiable and provable digital ownership for unique digital items
including artwork or in-game items, such as a magical sword or an
avatar. As previously highlighted, an NFT becomes a digital
collectible with the authenticity backed by blockchain technology,
in this case, Ethereum. NFTs can be sold or traded on
websites such as
OpenSea,
VE-VE,
and
WAX,
which have emerged as trading platforms for NFTs.
NFTs can be used to represent almost anything, from virtual to real
assets. Some of the most popular NFT sites found online today
include:
Digital art:
CryptoArt.io,
KnownOrigin,
MakersPlace,
and
SuperRare
Digital music:
Mintbase
and
ROCKI
Digital trading cards:
Gods Unchained
and
Sorare
Gaming assets:
Axie
Infinity
and
World of Ether
Virtual real estate:Cryptovoxels
and
Decentraland
Fandom will be developing NFTs for: user
handles, daily raffles, coin packages, avatars, frames (around
profile photos), stickers, badges, chat
amplifiers
(text goes in larger/different fonts), score multipliers,
and other in-game bonuses.
Each category will have dozens of
specific
examples that will be staggered to focus on increased scarcity to
incentivize
players to
perform
specific actions within the platform. The end
goal would be to get a
FandomWiki
outlining all the NFTs
the Company has
created
either on its own initiatives or with partner brands. The Company
is evaluating organizational requirements to support this
initiative
According to
NonFungible,
during the past month, over 60,000 NFTs were sold for a total of
$12 million with
CryptoPunks,
SoRare,
and
SuperRare
representing the top sites by sales value. Over the past three
years,
NonFungible
has tracked over 5 million transactions valuing over $160
million.
According to
CryptoArt.io,
December 2020 set a new record for the blockchain-based art market
with over $8 million of NFT artwork sold. Over the past 3 years,
over 54,000 pieces of crypto art representing $54 million has been
sold.
David Vinokurov, CEO and President
states,
"The
convergence of Esports, blockchain, iGaming and gaming technologies
provides a unique vantage point for the Company to leverage its
Unified Information Access platform to capitalize on all these
overlapping technological
advancements.
In any industry, at the end of the day, the best technology will
win, and I believe that Fandom is laying the groundwork for
a
transformative user experience in all sectors mentioned and
ultimately value creation for all the Company's
stakeholders."
"PLAY.
PREDICT. GET REWARDED."
For additional
Information:
David
Vinokurov
CEO,
President
Fandom Sports
Media Corp.
Email:
info@fandomesports.com
Phone
+1 (604)
256
6990
The CSE has not reviewed and does not accept responsibility for the
adequacy and accuracy of this
new release.
DISCLAIMER:
Certain statements made herein may contain forward-looking
information within the meaning of the applicable Canadian
securities laws ("forward looking statements"). Often, but not
always, forward-looking statements can be identified by the use of
words such as "plans", "expects", "budgets", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "believes"
or the negatives or thereof. Forward-looking statements herein
include, but are not limited to statements with respect
to:
the
affiliate marketing relationship with Elite Duels Corp.
and the entering into a
definitive agreement for the affiliate marketing partnership
and the expected benefits to
Fandom
from the definitive agreement;
market acceptance of the Company's
peer-to-peer wagering platform;
the Company's
expectation of
becoming
a world-class engaging eco-system for all ages fans and fans of
wagering on live Esports events;
and the expected growth and health of the Esports
betting
market in general.
Forward-looking statements by their nature are based on assumptions
and involve known and unknown risks, uncertainties and other
factors which may cause the actual results to be materially
different from those expressed or implied by the forward-looking
statements. We have made certain assumptions, which our management
believes to be reasonable, about the forward-looking statements,
including the ability to
enter into a definitive affiliate marketing agreement with Elite
Duels Corp.,
the expected revenue and other benefits to be generated by the
relationship, as well as the ongoing performance advantages of
the
Company's platform
in comparison with existing or future competitive offerings, and
the future growth of the market in which we compete. However, we
can provide no assurance that the forward-looking statements will
prove to be accurate. Furthermore, should one or more of the risks,
uncertainties or other factors materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described in forward-looking statements. Accordingly,
you should not place undue reliance on the forward-looking
statements or information contained herein. Important additional
information identifying risks and uncertainties and other factors
is contained in the section entitled "Risk and
Uncertainties" in the Company's most recent Management Discussion
and Analysis filed on SEDAR.
Except as required by law, we do not intend to update
forward-looking statements whether as a result of new information,
future events or otherwise.