A new FundFantasy contest platform allows players to practice the investment and earn cryptocurrencies. FundFantasy aims to create a stimulated, fun and safe investment environment.
FundFantasy has announced the launch of their blockchain-powered financial fantasy contest platform. The project aims to give finance enthusiasts and retail traders the chance to practice their financial analysis and win prizes by crafting the ultimate portfolio in a fun and secure environment.
It’s no secret that real-world investing leans heavily in favor of brokerage houses and advisors. Retail investors fall prey to the supposedly calculated risk and are easily manipulated towards increased activity, which benefits the advisors regardless of the consequences. The scandals and fraud accusations of the online trading market are what have inspired FundFantasy.
“Whether it’s traders looking for a fun, simplified version of the real thing, or gamers who want to try out their economic analysis skills, it’s a whole new, exciting fantasy experience,” said co-founder and CEO Tal Zander. “FundFantasy allows both professional and amateur economic analysts to win prizes in multiples, without necessitating the usage of leverage and trading on margin.”
The platform features peer-to-peer, provably-fair simulated investing contests, where users compete for cryptocurrency prizes by building their portfolio. They begin by purchasing a ticket to contribute to a contest’s prize pool. All contest details are upfront and available for examination prior to entry. When the contest starts, users can view and compare their portfolios with the ones submitted by their opponents.
When creating portfolios, users can choose assets from various classes including stocks, commodities, cryptocurrencies, and fiat currencies. These user-submitted portfolios are sorted and ranked as soon as the contest ends according to their rate-of-return, as calculated according to price quotes from established and well known financial data APIs.
There is no actual ownership of financial assets. Users allocate one million virtual US dollars to their long and short positions on the assets available on the platform, and they can participate in contests carrying FundToken (FUNDZ), the functional utility tokens within the FundFantasy platform, Bitcoin, or Ether prizes. Users also have the option to enforce limits and restrictions on their own gaming behavior.
“We’re excited to be the ones introducing this category to the decentralized economy,” said Zander. “Fantasy sports platforms and online betting have proven to be extremely popular and FundFantasy fills the missing link between finance and gaming. It provides a safe, and simplified way to play the role of an investor or fund manager, move up in rank, and win prizes.”
FundTokens grant access to contests which pay out in cryptocurrencies such as BTC, ETH, and FUNDZ, and are thus supported by real-world value, easily interchangeable with other tokens or Ether, allowing for easier listing on exchanges. In addition, 0.5% of all payments made using FundTokens will be burnt, which means that the total supply of FundTokens will decrease over time.
FundFantasy’s ICO launches January 25, 2018. Purchasers of FundTokens during the token sale will enjoy a bonus on their token purchase, with 25% during the first 8 hours, 15% during the next 24 hours, and 10% during the rest of the first week.
The Tel Aviv-based FundFantasy team comes from diverse and experienced backgrounds in business, crypto economics, and IT. CEO and Co-founder Tal Zander has over 10 years business experience in business management, online marketing, entrepreneurship, accounting, and sales. COO and Co-founder Daniel Vaisman is a crypto economics specialist and blockchain enthusiast. A successful online trader of over 8 years, he has 10 years of IT expertise and programming experience. CSO and Chairman Tzahi Kanza has 17 years of experience as a founder and CEO managing global companies, both in High-Tech and Low-Tech.
More information in: FundFantasy
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