Fandom Sports Media Corp.(“Fandom Sports” or the “Company”), is pleased to announce that it has entered into a technology partnership with cryptocurrency platform Polygon, with the aim of supporting efficient and scalable NFT minting on Fandom Sports’ FANDOMART NFT marketplace.
Launching in Q1 2022, FANDOMART will reside as a module within the Company’s fan engagement and wagering ecosystem (“UIA Platform”). Players on the Fandom UIA Platform will be able to watch their favorite streamed content, make predictions and wagers against their friends or the global community as well as to create NFTs on the fly. Players can capture multiple moments from their favourite event to create an NFT from all the while continuing to watching their stream or broadcasted content while enjoying new levels of fan engagement.
FANDOMART will be a branch of the Fandom UIA platform, a place where users can mint, buy and sell their own NFTs. The service intends to support numerous minting protocols, as well as interoperability with other exchanges. In order to see this vision become a reality, Fandom needed to leverage a blockchain that was at the same time fast, inexpensive and of course secure. Many existing NFT platforms use Ethereum, but the reality is that Ethereum is too costly and slow in its current form for mass adoption. This is why Fandom Sports decided to launch its NFT Marketplace on Polygon’s layer 2 ethereum scaling protocol.
Polygon, formerly known as Matic, is a blockchain framework, known as a “side chain,” that builds and connects Ethereum-compatible blockchain networks. It is designed to regulate an environment where a whole ecosystem of blockchains no longer function as closed-off silos but instead as part of a wider interconnected spectrum. The Polygon network is much, much faster than Ethereum, and network fees are generally just pennies.
It also doesn’t hurt that Polygon already works with most of today’s top blockchain-based Web 3.0 games and NFT projects, including Decentraland, Opensea and The Sandbox, and has 6x more gaming and NFT Dapps than any other blockchain outside of Ethereum. This means that Fandom’s vision for real-time NFT creation, and trade, becomes very possible through this partnership.
David Vinokurov, CEO and President Fandom Sports, said: “Our timely connection with the team at Polygon satisfies numerous ongoing initiatives for Fandom Sports. Having an industry leading blockchain protocol partner with the technical reach and marketing scope of Polygon will give the Company the ability to capitalize on the Company’s NFT on the Fly solution by deploying with top tier esports and sports organizations. Our goal to facilitate the mass creation of NFT from players’ favourite streamed content providers will provide for new revenue streams for our partners, increased engagement for our players and new opportunities to interact with fans globally.”
Polygon is the leading platform for Ethereum scaling and infrastructure development. Its growing suite of products offers developers easy access to all major scaling and infrastructure solutions: L2 solutions (ZK Rollups and Optimistic Rollups), sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions and more. Polygon’s scaling solutions have seen widespread adoption with 500+ applications hosted, ~600M total transactions processed, ~60M unique user addresses and $5B+ in assets secured.
Fandom Sports Media operates an Esports/Sports wagering platform. The platform is the ultimate mobile friendly application for unfiltered raw Esports and Sports predictions and data interactions. Fandom allows passionate fans to unleash their primal passions, make predictions and/or wagers and earn rewards. Fandom Sports is a web application which instantly operates on an Android and iOS mobile device targeting “Superfans,” who aspire to show the world they know their stuff better than the experts and their friends – giving them a chance to Play, Predict, and Get Rewarded. Fandom Sports is revolutionizing the way that consumers interact with streamed and broadcast content through the creation of the Company’s own NFT marketplace. Fans will be able to tune in, watch, predict, wager and create NFTs all on-platform.