Tortola, British Virgin Islands, Dec 28, 2021 - (ACN Newswire) - Fantasy Terra Co Ltd has recently announced the launch of its platform - Fanfury, a decentralized daily fantasy sports project. Introducing trust-less fantasy sports to the world, Fanfury aims at facilitating player vs player and large contest pools in which participants compete by creating virtual teams comprising players from a range of professional sports. Based on existing daily fantasy sports principles, Fanfury will use a point system to quantify the performance of selected players as well their overall results in competitions.
Built on Terra, Fanfury has been designed to be a daily fantasy sports app with both a profit-sharing structure and community ownership. Integrating advanced technologies like smart contracts and multiple Oracles to prevent manipulation, Fantasy Terra Co Ltd and Fanfury will leverage these tools to control the rules governing the play and to validate data from real-world sources. Fanfury is seeking to achieve this by utilizing Chainlink, Supra, and Band protocol.
With Fanfury's gamified staking pools, participants can choose from over 300 teams across major league sports. Only one team can be picked per wallet. Users can hold and stake Fanfury's native token, $FURY on the team pool they choose allowing them to earn daily distributed rewards. The gamified reward distribution feature ensures that rewards are distributed according to a team's standing on the leaderboard.
Deflationary economics has been built into the Fanfury tokenomics. The Terra-built platform will burn 40% of rake fees earned on every contest. This is part of the development team's strategies to drive circulation and, in turn, accelerate the price of the token. If the prices of the $FURY tokens are high, only a diminutive percentage will be burnt.
Smart contracts will be implemented to control the collection of entry fees, the size of the pool, the number of teams, and the proprietary governing rules. At a flat rate of 5%, Fanfury prides itself as the project with one of the lowest rake fees in the industry. Fanfury has raised $1.8 million from Angel, Seed, and private rounds at a market cap of $14.7 million.
Offering players an opportunity to choose from over 2,000 prominent leagues like the English Premier League [EPL], La Liga, NBA, etc., Fanfury will not only create a sustainable incentivized liquidity program but will revolutionize the sports fantasy game as it is.
Fanfury aims at delivering real-world digital data, liquidity, transparency, decentralization, and offering gamers new ways to earn and express their undying passion for sports.
About Fantasy Terra Co Ltd
A product of Fantasy Terra Co Ltd, Fanfury is a blockchain-based sports fantasy game that has been designed to offer players a wide range of options. Incorporating access to over 2,000 leagues, incentivizing players, and rewarding liquidity providers, Fanfury aims at delivering decentralization, real-world data collection, liquidity, transparency, and digital ownership to the industry. Integrating advanced technologies, this Terra-based platform will try to dispel all forms of manipulations while ensuring that predetermined rules governing gameplay are adhered to.
Media Contact
Brand: Fanfury
Contact Person: Athiban Jordanson, Head of Communications
Email: contact@fury.fan
Website: https://fury.fan/
SOURCE: Fanfury
Topic: Press release summary
Source: Fanfury
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