The initial coin offering (ICO) sector has proved to be the ideal place for many startup companies to get up off the ground and get the ball rolling with their new business. There are so many exciting applications of blockchain technology that it is great to see these projects being given the time of day.
In the not too distant past, many of these new companies would have found it very difficult to get a fair deal from a venture capital firm without giving up a lot of control over the company. Now these firms are able to issue their own digital tokens in exchange for funding. While they are still accountable to their investors, it is not done in such a crippling manner as is often seen in the venture capital space.
One of the newer projects that has launched its ICO is a blockchain-based Fantasy football platform.
What is the deal with Fantasy sports?
Fantasy sports have become really popular in recent years. Whether it is for events like the Premier League, World Cup or the golf season, there are so many different iterations of it. All across the world there are designated leagues with some significant prizes at stake. It is very addictive for the players, who are trying to get one up on their friends or acquaintances. This is a popular pastime for offices and schoolmates all across the world.
It is now an industry that is worth large sums of money and there are more than 1.2 billion participants in these types of sports across the globe.
This particular project is called STRYKZ and it is aiming to launch their Football-Stars platform for Fantasy sports that is based upon blockchain technology.
What are the details about their upcoming ICO?
The name of their token is STRY and in total, there are going to be over 1.1 billion of these tokens issued. The initial token price for this sale has been fixed at 0.0001 ETH = a single STRY token. The soft cap for this token sale has been set at 8,900 ETH, while the hard cap has been set at 44,500 ETH. The ICO began back on the 29th of June and it is set run until the 29th of July. They are currently accepting BTC and ETH for contributions.
They already have a working product that is live and the player base is busy with the World Cup. There are a number of strategic partnerships in place and they have been endorsed by the football legend that is Luis Figo.