The platform is under beta-testing and allows one to bet without owning real assets
Betting on assets without owning it, in fact, seems to be a well-known model, this idea is used by Forex-like brokers and being successfully implemented to the crypto market as well. Although, the betting process may even get more entertaining if you add a contest element. And this is exactly what a new Blockchain project, FundFantasy, offers on its platform, which allows investors to become players and compete with other players by making the best investing portfolio and winning a money prize.
Invest for fun, play for profit
According to the white paper, FundFantasy is currently beta-testing its own Financial Fantasy Contest Platform, which is “simulating investments in financial assets in a fun, secure, and responsible environment, free of the conflicts of interest which plague the online trading market.” According to the company’s data, over 75 percent of the test users expressed an interest in playing again, the team states. Following the project’s roadmap, the official launch of the main version of the platform is planned for Q3 2018.
The FundFantasy’s hybrid platform of ‘gaming while trading’ has drawn its inspiration from the principle of fantasy sports, an online sports segment that is getting much popular nowadays. For instance, there are approximately 60 mln people in the US and Canada, that play some form of online fantasy sports, according to the recent report by Fantasy Sports Trade Association. In a nutshell, players bet on their own virtual teams, receive points while playing and compete for a virtual or real money prize.
The similar principle of online competition is used in the FundFantasy platform, which offers a simplified version of trading based on the Ethereum Blockchain and smart contracts. The platform will allow users to open and organize their own contests, invite their friends and even earn a percentage of the fee that is charged from the contests prize pool.
The best portfolio to win
According to FundFantasy, the platform acts as a complete solution where users can safely bet on a range of assets without the risk of losing a fortune, while still keeping the possibility of making large gains. Users can create and submit portfolio from four asset classes: cryptocurrencies, fiat currencies, commodities and stocks, but a portfolio may have its own specifications.
The FundFantasy team states that the investing simulator is based on real market data and pays out crypto-prizes. “Our platform gives users a chance to win large prizes while keeping expenses fixed regardless of the market’s volatility or black-swan events. The required “capital” can be as low as zero, as we will also feature free daily contests carrying cryptocurrency prizes,” says the white paper.
The FundFantasy crowdsale will be finished on Feb. 25. Purchasers of tokens called FUNDZ during the sale will enjoy a bonus on their token purchase, with 25 percent during the first eight hours, 15 percent during the next 24 hours, and 10 percent during the rest of the first week.
The FundFantasy team has also opted to airdrop any unsold tokens to investors after the ICO to protect the investors in the event of low selling or ETH/Dollar fluctuations, the team claims.
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.
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Author: Nick Bakursky