Golden State Warriors co-owner launches NFT-based DFS site
Posted on: September 7, 2022, 12:14 p.m.
Last updated: 7 September 2022, at 12.14.
Golden State Warriors co-owner and Zappos founder Nick Swinmurn has developed a fantasy sports platform that uses non-fungible tokens (NFTs) as currency. The Play Hellebore NFT coin is expected to launch tomorrow, September 8th.
Play Hellebore requires players to purchase a ‘Siber’ NFT for 0.03 ETH (approx. $50), which enables them to bet on the results of professional sports games, such as NFL, NCAA football, MLB and international soccer, in hopes of win blockchain-based prizes.
Once players have purchased the platform’s Siber NFT, they can start creating leagues and playing matches to win prizes. Play Hellebore claims to be an attempt to bridge the gap between Web 3.0 and traditional fantasy sports leagues.
NFTs are particularly popular in sports and sports betting arenas, as they can be used as digital trading cards or memorabilia of sporting events.
The National Basketball Association’s NFT marketplace, produced by Dapper Labs, NBA Top Shot had more than 1.1 million registered users who traded around $800 million in NFTs last year.
How it works
Play Hellebore players can increase the value of their NFTs, unlock physical and digital prizes and compete against friends, family and strangers in traditional “Pick’Em” style fantasy sports leagues. And like traditional player- and stats-based fantasy sports leagues, players can become league leaders.
Everyone knows what fantasy sports are, and chances are that most individuals have at some point also participated in some sort of ‘Pick’Em’ league with friends, in the neighborhood, or in their office. said Swinmurn.
Individual Sibers’ ratings increase with each correct pick, giving them the ability to tilt the odds in a player’s favor by allowing them to alter the game’s point spread.
Web 3.0 and Sports Converge
Hellebore COO Roshni Cox believes the platform will bring sports fans together and provide a new way to engage with one of the most popular global pastimes.
“With it continuing to spread at a rapid pace, it’s only natural that these worlds collide to give both hardcore and casual sports fans a fun new way to be part of the game and compete for rewards and bragging rights,” Swinmurn said recently.
The amalgamation of Web.30 and more traditional online gaming and gambling products has picked up in the past year. In June, Lucky Crypto launched a metaverse NFT slot, while in February, a metaverse-based casino reported $7.5 million in revenue in just three months.
