How Are NFTs Amplifying Fantasy Sports?

Here’s an explainer on applicability of NFTs in the fantasy sports - how Crypto and Blockchain games are stepping in and how you can turn you’re gaming hours into an investment!

Table of Contents

  • NFTs vs. Blockchain
  • Indian and International NFT Fantasy Sports Platforms
  • What Are NFT Games?
  • What Do NFTs Mean for Gaming Specifically?
  • What do NFT Games Allow You to Do?
  • NFT’s in Fantasy Sports
  • NFT’s as Gaming Tokens
  • How Can You Turn Your Gaming Hours Into An Investment?
  • What Best Play-To-Earn/Play-To-Win NFT Games Are Out Now?
  • What Are Sports NFTs And How Do They Work?
  • Suaving With The Ever Expanding Scope of NFTs in Fantasy Sports
  • Features in a Fantasy Sports App
  • Technology Stack to Develop a Fantasy NFT Sports App
  • What Are The Best Ways To Monetize Your NFT Fantasy Sports App?
  • How Much Does it Cost to Build a Fantasy Sports NFT App?
  • Conclusive: Marketplace for Fantasy Sports NFT

Mom: What should I be thanking you for?

Jeremy: I just repaid the twenty bucks I owed you…in Bitcoin.

Mom: I don’t know anything about Bitcoin!

Jeremy: In that case, it was forty bucks. (ZITS, by Jerry Scott & Jim Borgman)

Operating cryptocurrencies in their current form can be a confusing experience, where users have to complete a series of operations to achieve an outcome. They have to buy bitcoins on an exchange, download and set up a wallet, send bitcoins to that wallet, find a marketplace or exchange to trade in, complete a transaction, and track it on the local block explorer.

Non-fungible tokens are built on blockchain technology, and our veteran team of NFT developers holds proficiency in multiple blockchain platforms including Ethereum, EOS, Stellar, and so forth.

Indian and International NFT Fantasy Sports Platforms

We’ll get through the underlying skepticism, and why it has become prime focus in on-demand service industry: Fantasy Sports Platforms in India like Dream 11, MPL (mobile Premier League), RummyCircle, Premier League – Football, Halaplay, CricPlay, 11 Wickets, FanFight, BalleBaazi, Fancy 11, and International Fantasy Sports Platforms like DraftKings, NFL Fantasy, Sportech, and Fantasy Feud etc.

First of all, understand what is NFTs, so a non-fungible token is a unit of data stored on a digital ledger called a blockchain that certifies digital assets. It can represent everything from unique art to music to in-game. Unlike cryptocurrency they are one-of-a-kind.

Prove ownership and history of ownership – If there is a “pickaxe” – (a weapon in Minecraft), its ownership is tracked on Blockchain. Whoever owns that axe will continue owning it until it is sold or traded.

Provable NFT – Assets maintained as NFTs are created in defined quantities and information is stored on the Blockchain database. If there are 50 pickaxes, they will always be 50 in number. The developer cannot just go about and change the defined number.

Assets secured with Blockchain are immutable – All assets are unchanging and immutable. If this pickaxe is with gold finish, it will always be gold. Someone cannot just go about and change it to silver.

Blockchain is decentralized – No single player can own the blockchain – it is available for every single player to see and use.

What Do NFTs Mean for Gaming Specifically?

In a traditional game, players buy the game and collect gears, weapons, skins, cards, and other items. They reside in the inventory in the game. Those items go away when you stop playing. All the time, money, and efforts go in vain once you quit e.g. Minecraft. This is because, even when you collected or purchased those items, you don’t actually own them.

In an NFT game, you have to buy the game and collect gears, weapons, skins, and cards. But the key difference is, that you immutably own those items of which there is a limited quantity and the item itself can exist outside the game. Players can bring those items and use them across platforms in another game. Plus, they can bring those items to the real-world marketplace and sell them in dollars. So if you decide to play the game and sell all your NFT gaming assets, for real-world dollars, and if you got in early and held them for a really long time, odds are that they will increase in value since you acquired them.

Whether from a friend, YouTuber, or mainstream media, you’ve most likely heard of NFTs. The rapid popularity growth of NFTs has taken both the common man as well as some crypto experts by storm. The increase of NFTs has also gained attention from game developers as they search for ways to utilize NFTs in games. Some people might say that NFT games are not here to stay; however, we know that NFT gaming is just getting started. Therefore, great opportunities await those developers prepared to dive deeper into the topic of NFT games and GameFi space. So, keep reading and find out the answers to the following questions: “what are NFT games?” and “how to make NFT games?”.

If you’re looking to learn how to make NFT games or get a proper answer to the “what are NFT games?” question, you came to the right place. Not only will we provide you with the answers you need to get going, but you will also learn about the ultimate Web3 development platform called Moralis. This free-to-use tool offers experienced and beginner developers the shortcut they deserve.

NFT’s in Fantasy Sports

Gaming has become a mainstream source of entertainment for tech savvy youngsters in India where popularity of fantasy sports is increasing by the day. Here, cricket, football, kabaddi fans feel an urge to stay connected and engaged while they are not in the field witnessing game for real.

Online gaming platforms for Fantasy Sports enable participants to draft, sign, manage, and trade professional athletes in building their own teams and compete against other team owners in either head-to-head weekly leagues or season long Rotisserie Style scoring. These are skill based games that gives the players the real-world thrill of sporting events. Points in a Fantasy Game are awarded according to a player’s performance in real life game.

Now we have more than 170% gamers from tier-III cities and towns as compared to 2021. FICCI-EY report also predicts the India fantasy sports to grow with a CAGR of 32% and is projected to reach 2.5 billion by 2022.

NFT gaming tokens carry value and drive the in-game economy. Gaming tokens are used to create/upgrade weapons or armour within the game. Combine multiple in-game creatures for creating new creatures with new attributes. Play the game to acquire more tokens and access exclusive in-game tournaments, locations, or customization options.

Blockchain games incorporate many innovative aspects with the help of native cryptocurrency tokens. e.g. Decentraland makes use of MANA token, Axie Infinity makes use of AXS token. Most of the Blockchain tokens are used to create NFTs (in-game assets). These are typically based on Ethereum or other Blockchain with smart-contract functionality, and can be sold in secondary markets/NFT marketplaces like OpenSea, Rarible, SuperRare, Foundation, AtomicMarket, Myth market, BakerySwap, Knownorigin, Enjin Marketplace, Portion, Async Art, Nifty Gateway, Decentraland, Zora, Mintable, etc.

  • Signup or Sign-in process
  • Create and manage multiple teams
  • Live score updates
  • Contest manager
  • Join and create contests(user feature)
  • View total earnings
  • Dashboards based on the different user types and roles
  • Invite and earn feature
  • Browse and select matches
  • Virtual wallet for users
  • Payment management features
  • Social media sharing
  • CMS integration for easy management
  • Admin Login
  • Dashboard
  • User Manager
  • Manage Matches
  • Manage Games Category
  • Contest Manager
  • Revenue Management
  • Manage Payment
  • Manage Reward Points
  • Manage Cash Bonus
  • Manage Bank Withdraw Request
  • CMS Management
  • CRM Integration
  • Points and Results Management
  • Manage Payment/Transactions
  • Manage Fantasy Points
  • Manage Notifications and Requests
  • Players, Players Assignments, and Leagues Management
  • View and Manage list of Users, Payment, Transaction, Win history
  • Notification and request management
  • Manage leagues, player and player assignment
  • Manage lists of users, transaction along with the history

How Much Does it Cost to Build a Fantasy Sports NFT App?

The sports fans around the world are huge. People go crazy while important leagues happen. depending on various sports has been legally and illegally one among the prominent sectors where mammoth amounts of cash circulate. Fantasy sports trading is more sort of a premium version of fantasy sports betting. And it's not new; it's been here since war 2. Also, it's been doing great since then. Today, because the world is popping digital, fantasy sports trading is additionally getting into the digital world with intriguing apps. the simplest part about these fantasy sports trading games is it keeps the users at the sting of their seat throughout the sport. People love this subconsciously.

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