Knights of Degen Acquires Blockchain Fantasy Sports Provider LeagueDAO
NEW YORK, 3 November 2022 /PRNewswire/ — Knights of Degenit fastest growing sports gaming community in Web3, has entered into a binding agreement to acquire the leader in blockchain-based fantasy sports, LeagueDAO. The transaction accelerates Knights of Degen’s competitive entertainment roadmap, enabling on-chain fantasy sports for its community of sports betting enthusiasts, while leveraging LeagueDAO’s groundbreaking product suite for mass adoption.
As a deal, LeagueDAO’s apps and fantasy leagues – included Mega League, Nomo League and Not Pivotable Brackets – will continue to operate without interruption. The LeagueDAO team will join the Knights of Degen, including co-founders, Jake Craven, Tyler Wardand Matt hunter. Financial terms of the agreement have not been made public.
“We’ve always viewed fantasy sports as a pillar of the KOD ecosystem, and to that end, we’re thrilled to join the LeagueDAO products, team and community,” said Knights of Degen co-founder, Drew Austin.
Fantasy sports users experience tangible benefits from competing on-chain, such as ownership and control of their teams and selections, easy entry and stress fee collection, sustainable prize pools that use decentralized finance (“DeFi”) to generate returns from entry fees, instant and verifiable payouts , and game models that allow users to earn money for acting as the commissioner, also known as a variety of different tournaments and leagues.
“The Knights of Degen community and ecosystem offers just the right engine to pursue our passion for building fantasy sports products on the chain. We are so excited about this next chapter for LeagueDAO,” said LeagueDAO co-founder Jake Craven.
Launched in September 2021, at its origin NFT fall, Knights of Degen has positioned its brand, community and applications as the Web3 destination for sports fans who always have in-game action. Focused on delivering best-in-class competitive entertainment, Knights enjoys a social gaming experience, with always-on contests and competitions that KFFL and Dough Bracket Challengewhile experiencing community ownership of a growing list of Web3 sports and entertainment properties such as a Fan-controlled football teama number of community-driven games to make money and the KOD Media Network.
Launched in August 2021, LeagueDAO was formed by a community of Web3 founders, developers, athletes and fans who wanted to kick-start the development of fantasy sports in Wweb3. In less than 12 months, LeagueDAO has developed a suite of decentralized fantasy sports applications. Each app leverages LeagueDAO’s core web3 infrastructure such as user, nfts, defi and smart contracts to create a unique skill-based gaming experience.
Knights of Degen intend to launch an erc-20 token in the coming months, using the Degen DAO, which will act as currency for the gaming ecosystem, including LeagueDAO’s fantasy products.
About Knights of Degen
Knights of Degen is a Web3 membership community for sports fans that is building a new way to experience sports fandom in the metaverse, with a passionate community of sports fans, tipsters and entrepreneurs. Launching in September 2021, with a collection of 8,888 NFTsowning a knight offers ongoing benefits, including access to hang out with professional athletes and experts in the field Disagreement and at IRL events, exclusive competitions across sporting and entertainment events for special prizes, and opportunities to participate across our KOD Media Network, Fan Controlled Football Team and food and beer brands. More information at knightsofdegen.io.
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SOURCE Knights of Degen
