Fandom
To
Mint Non-Fungible
Tokens for Esports
Fan Rewards
Vancouver, British Columbia -- InvestorsHub NewsWire
-- January
11,
2021
– Fandom
Sports
Media Corp. (CSE: FDM) (OTC: FDMSF) (FRANKFURT: TQ43) ("Fandom" or the
"Company"), is pleased to announce
that it has undertaken development towards minting Non-Fungible
Tokens ("NFTs") to reward Esports fans for engagement on Fandom's
All Ages Prediction Platform (the "Platform").
"Our development of NFTs for the Fandom platform through
purpose-built
deployments is an extension of previously publicized tokenization
and blockchain development initiatives. Our development team
is applying new tools and methodologies to increase the avenues of
monetization accessible to Fandom while staying laser focused on
increasing player satisfaction and interaction on the Fandom
platform. Our commitment to developing and implementing
innovative technologies across our ecosystem is a cornerstone of
our platform strategy," states David Vinokurov, CEO and President
of Fandom.
After extensive research,
Fandom has chosen to build its
NFTs
utilizing smart contracts on Ethereum utilizing the ERC-1155
protocol.
ERC-1155 is an advanced and better version of ERC-721 that offers a
lot of new possibilities to create NFTs.
ERC-1155 also allows you to perform more than one complex task in a
single transaction. This will reduce congestion on the Ethereum
blockchain. For example, in the ERC-1155 standard, operations like
approval, transfer, trading, and melting take arrays as parameters.
This allows you to perform around 100 to 200 functions in a single
transaction.
The minting of
NFTs
in our all
ages platform
will be different from
other free to play games. Fandom tokens will give fans full
ownership of in-game
rewards to exclusive items and giveaways. NFTS are used to
represent in-game assets, and are controlled by the user, instead
of the game developer. This
permits asset trading
on third-party marketplaces without permission from the game
developer. In short, they are digital assets that have unique
properties programmed into them using cryptography and are often
called crypto collectibles. Allowing fans to earn scarce rewards
and participate in the tokens will drive a multi-million
dollar
revenue engagement on our prediction platform. Increased user
engagement to spend more time or purchase more
in-app
offerings for a better chance of earning these exclusive to FDM
Tokens. Fandom
will look to add new revenue models through partnering with brands,
artists,
and
marketers looking to take advantage of the NFTs.
The user handles within FDM will also be NFTs.
This model will be rewarding early adopters with the ability to
pick and own the hottest IGN names from
the Fandom Platform. The name and description of the account will
be owned by the users to trade that name in the future.
David Vinokurov, CEO and President continues, "The
application of NFTs for Esports is relevant, accretive and value
enhancing in a direct measurable way. The creation of unique,
interoperable digital assets will create user
incentivization,
motivation and reward users with unique digital
assets
found nowhere else.
The possibilities for unique branded content, give-aways, raffles
and other incentives are endless and will diversify the portfolio
of tools for monetization
that
Fandom will be deploying."
"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.
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