MyDFS, a blockchain-based mostly daily fable activities platform, has raised US$ 1 million from LD Capital and added former facebook govt Akin Babayigit into its advisory board, the startup announced on Thursday. Babayigit will help MyDFS with the upcoming global launch of its app.
MyDFS pointed out the brand new funding should be used to enhance the present blockchain platform and expand MyDFS services overseas. It comes only a month after the startup raised US$ 2 million from investor Frank Fu, managing director at chinese language tech company Meitu, the chinese language image-sharing platform with greater than 450 million users. Fu joined MyDFS as a board guide.
MyDFS is making ready for the gentle launch of its blockchain-primarily based cell app with a rollout in Australia and India first. The startup talked about it could be amassing information and making a choice on bugs as a way to optimize the platform just before the international launch set to take place in early June 2018, correct earlier than the FIFA World Cup, the largest soccer championship of the yr. MyDFS referred to it will be trying to find feedbacks from players.
Headquartered in the Isle of Man, MyDFS intends to make use of blockchain expertise to simplify the every day fantasy activities event. The company’s upcoming cell app promises to supply fable activities players with the entire traditional DFS points, with the brought safety and transparency that blockchain presents. gamers can be in a position to use MyDFS tokens as in-game forex to enter the video games, draft their own lineups, and play against other users on the platform. The platform will additionally consist of player brokerage facets, a good way to enable rookies to hire seasoned-avid gamers to win fantasy leagues on their behalf.
Viktor Mangazeev, CEO of MyDFS, referred to the platform is a combined solution that makes delusion activities games casual and simple-to-play.
“Our crew has been building delusion activities apps for the reason that 2015. We decided to merge our current platform with blockchain to clear up major trade issues and bring transparency to fable sports,” he said.
LD Capital, which claims to boast one of the longest-operating and biggest crypto investment companies in China, has made investments into startups and initiatives comparable to Qtum, Vechain, and EOS. MyDFS is the latest assignment the company is investing in.
Yi Lihua, founding associate at LD Capital, said that while the fable activities market changed into well-developed in the West, Asia remains a quite untapped market, giving a chance for MyDFS to become a regional chief.
“The Western world is captivated with fantasy sports. The fantasy sports audience in the US and Canada has already handed sixty five million people, but there are most effective a number of individuals prevalent with the industry in the Asia market,” he observed. “MyDFS can be the first enterprise bringing delusion leagues to the Asian.”
myth sports is a US$ 7.22 billion industry that continues to develop, in accordance to a analysis with the aid of Ipsos marketing for the delusion sports exchange association (FSTA). The research estimates that there are at the moment about 59.3 million fable sports gamers within the US and Canada.