Vancouver, British Columbia--(Newsfile Corp. - January 19, 2021) - Fandom Sports Media Corp. (CSE: FDM) (OTCQB: FDMSF) (FSE: TQ43) ("Fandom" or the "Company"), is eager it to outline its strategy for minting and deploying Non-Fungible Tokens ("NFTs") to reward Esports fans for engagement on Fandom's All Ages Engagement Platform (the "Platform").
NFTs are a type of cryptographic token that are not fungible and not mutually interchangeable. NFTs were developed to create verifiable and provable digital ownership for unique digital items including artwork or in-game items, such as a magical sword or an avatar. As previously highlighted, an NFT becomes a digital collectible with the authenticity backed by blockchain technology, in this case, Ethereum. NFTs can be sold or traded on websites such as OpenSea, VE-VE, and WAX, which have emerged as trading platforms for NFTs.
NFTs can be used to represent almost anything, from virtual to real assets. Some of the most popular NFT sites found online today include:
Digital art: CryptoArt.io, KnownOrigin, MakersPlace, and SuperRare
Digital music: Mintbase and ROCKI
Digital trading cards: Gods Unchained and Sorare
Gaming assets: Axie Infinity and World of Ether
Virtual real estate: Cryptovoxels and Decentraland
Fandom will be developing NFTs for: user handles, daily raffles, coin packages, avatars, frames (around profile photos), stickers, badges, chat amplifiers (text goes in larger/different fonts), score multipliers, and other in-game bonuses. Each category will have dozens of specific examples that will be staggered to focus on increased scarcity to incentivize players to perform specific actions within the platform. The end goal would be to get a FandomWiki outlining all the NFTs the Company has created either on its own initiatives or with partner brands. The Company is evaluating organizational requirements to support this initiative
According to NonFungible, during the past month, over 60,000 NFTs were sold for a total of $12 million with CryptoPunks, SoRare, and SuperRare representing the top sites by sales value. Over the past three years, NonFungible has tracked over 5 million transactions valuing over $160 million. According to CryptoArt.io, December 2020 set a new record for the blockchain-based art market with over $8 million of NFT artwork sold. Over the past 3 years, over 54,000 pieces of crypto art representing $54 million has been sold.
David Vinokurov, CEO and President states, "The convergence of Esports, blockchain, iGaming and gaming technologies provides a unique vantage point for the Company to leverage its Unified Information Access platform to capitalize on all these overlapping technological advancements. In any industry, at the end of the day, the best technology will win, and I believe that Fandom is laying the groundwork for a transformative user experience in all sectors mentioned and ultimately value creation for all the Company's stakeholders."
"PLAY. PREDICT. GET REWARDED."
For additional Information:
David Vinokurov
CEO, President
Fandom Sports Media Corp.
Email: info@fandomesports.com
Phone +1 (604) 256 6990
The CSE has not reviewed and does not accept responsibility for the adequacy and accuracy of this new release.
DISCLAIMER:
Certain statements made herein may contain forward-looking information within the meaning of the applicable Canadian securities laws ("forward looking statements"). Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "budgets", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negatives or thereof. Forward-looking statements herein include, but are not limited to statements with respect to: the affiliate marketing relationship with Elite Duels Corp. and the entering into a definitive agreement for the affiliate marketing partnership and the expected benefits to Fandom from the definitive agreement; market acceptance of the Company's peer-to-peer wagering platform; the Company's expectation of becoming a world-class engaging eco-system for all ages fans and fans of wagering on live Esports events;and the expected growth and health of the Esports betting market in general.
Forward-looking statements by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from those expressed or implied by the forward-looking statements. We have made certain assumptions, which our management believes to be reasonable, about the forward-looking statements, including the ability to enter into a definitive affiliate marketing agreement with Elite Duels Corp., the expected revenue and other benefits to be generated by the relationship, as well as the ongoing performance advantages of the Company's platform in comparison with existing or future competitive offerings, and the future growth of the market in which we compete. However, we can provide no assurance that the forward-looking statements will prove to be accurate. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, you should not place undue reliance on the forward-looking statements or information contained herein. Important additional information identifying risks and uncertainties and other factors is contained in the section entitled "Risk and Uncertainties" in the Company's most recent Management Discussion and Analysis filed on SEDAR.
Except as required by law, we do not intend to update forward-looking statements whether as a result of new information, future events or otherwise.
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