A Daily Fantasy Sports World that is Trustless, Immutable, & Community Owned, & uses $FURY as its reserve currency.
Spicey | OIG:
Welcome back OIG family to another exciting episode in our ama series. Today I had the privilege of speaking with Adrian who is the CEO of Fanfury. Fan fury is a daily fantasy sports world that is trustless immutable, and community-owned and uses fury as its reserve currency. Remember, like, subscribe, and hit the bell notification button to stay up to date with all the great things coming out of OIG. Without further ado, let’s jump straight into the AMA. Welcome, Adrian to our AMA. I’m excited to talk about Fanfury. Can you explain what your role is in the project as well as what Fanfury is?
Adrian:
Sure. So my name is Adrian, I’m the CEO, co-founder of Fanfury. My role at Fan Fury essentially is the Mad Hatter. You know, I’m the mad scientist that comes up with all the weird, you know, requests for the technical team to do. So. Essentially, I sort of design the concept out, talk about the tokenomics talk about the value in the revenue streams, the revenue generation, and generally speaking the utility of the token. So I work with two other founders, who each come with their own experience as well with Vivik is a marketing specialist, he comes with over 10 years taking a lot of, you know, commercial projects to market Shubhendu our technologist. He’s had various teams over the last 10–12 years as well. So together, we’ve sort of started Fanfury as one of the only decentralised daily fantasy sports platforms out there. And we’re very specific that you know, we haven’t really done the league format, because we know that the league format is being done in a lot of places, but one of the things that we’re doing is sort of focusing on the daily fantasy sports route. And a couple of reasons for that are simply the amount of time it takes an investment of time it takes to you know, put your into an entire league season is very difficult for a lot of people to do. But you know, when you’re playing on a daily basis is a lot easier to sort of play when you want and not have that burden of you know, am I falling behind? Am I losing my rankings, and in the process making a lot of money as well. You know, one of the benefits, obviously, a Fanfury is the fact that we’re decentralised, we get to give the ownership of essentially a, you know, a fantasy sports platform back into the hands of the people who really play the fantasy sports players. You know, and I think that traditionally speaking, that’s what, you know, the entire experience here has been about for all of us, all of us are fantasy sports players, the entire team 80% of us a huge sports fan. So big things coming for Fanfury. I think that in terms of fantasy sports, we’re here to change a lot.
Spicey | OIG:
For sure, and especially with Blockchain integration, that’s sure to be a huge revolution within the industry. You know, fantasy sports is a multi, I would say billion-dollar industry already. So having blockchain integration will really disrupt the market. Could you tell us a little more about the team that’s involved to achieve all of this, because this does sound like an ambitious, ambitious feat?
Adrian:
It does. And we’ve actually got quite a large team, we’re actually just touching 18 members right now, and a lot of that is actually the technical team itself, because, you know, behind the scenes, this really is a workhorse, you know, it’s, it’s handling a large, large amount of transactions. And really speaking, that’s one of the reasons we went with terror was because of the fact that you know, in terms of security, in terms of scalability, these are these, you know, foundations that we can rely on the terra network for. So, you know, when it comes to the transaction speed, the cost, you know, we’re able to actually optimise things much, much better than most other platforms out there. Where, you know, essentially, your gas fees are tremendously high, sometimes even more than the actual entry fee itself. And for players in a fantasy sports world, it really isn’t optimum for them, even though they’re losing money hand over fist on traditional platforms, it just isn’t optimal for them to come to your decentralised platforms and play. So one of the big things that, you know, we focused on is the fact that our network needs to be cheap to use, it needs to be easy for people to come in and play. It needs to be very, very simple in terms of the experience. So our team is a reflection of that, you know, we have an entire marketing section, we’ve got five marketing experts working on everything from content to SEO. So we’re really taking on the traditional players at their own game and marketing this as a traditional fantasy sports platform. Because really speaking, given in terms of the experience, the way that our design team has, you know, crafted it out, is to sort of mask the identity of what goes on in the background. You know, fantasy sports players aren’t really interested In staking and bonding, I mean, these are not really terms that a lot of folks understand, let alone fantasy sportsbooks. So the idea was to use our designers use the skill sets. I mean, as I said, the team is a reflection of that, we’ve got a whole host of technical people working on everything from the smart contracts to the database to creating our own Oracle’s because really speaking, there wasn’t they aren’t really data, Oracle’s that provide you with the kind of data that we needed in order for us to run a fantasy sports platform end to end decentralised. So I think that, as I said, the team is a reflection of that we’ve got, you know, Blockchain experts, we’ve got back end and front end experts, we’ve got marketing experts, and really speaking our, you know, our entire product is also a reflection of the team itself.
Spicey | OIG:
Really cool. Yeah. And, you know, mentioning affordability and entry point, low entry point is very key to mass adoption as well. Right. So it’s good that you recognise that, and you have a team that matches that, that that skill set. So I guess more about Fanfury, how does it work? What are the different features and products that separate you from, let’s say, other similar productsc or projects out there?
Adrian:
Yeah, that’s a great question. So, um, you know, in a lot of respects, we’ve tried to keep our platform as simple and easy to understand, which means keeping it as similar as most of the other platforms that you see out there. So when you look at the experience of the platform itself, it’s going to look and feel very much like you’re playing any other fantasy sports platform. And we’ve done that for a reason, simply because in terms of like game experience, this is a game experience that people already know. So in terms of the learning curve, we can keep that learning curve to an absolute minimum, or, you know, people don’t really need to come here to learn the game, they know the game, they know what it’s like to come in and form a team. You know, these aren’t experiences that we need to teach them. And from that point of view, this really, you know, gives us a huge advantage because most of the blockchain games, you really have to learn the game, you’ve got to spend, you know, time not just buying something within the game, but actually spend time learning the game. And that takes time that takes money, it takes a lot of, you know, ability from your day as well. So in our terms, we were actually looking at, you know, the market that’s already playing these games, and it’s a huge, tremendous market. And the difference between us and the traditional players is really in terms of like the returns that we’re able to give our players as well. One is the fact that we’ve got one of the lowest rate fees in the industry, we’re at 5%, which is really, really tremendously much, much lower than everybody else. DraftKings stream 11 FanDuel. I mean, they are anywhere between eight and 15, sometimes 22%. You know, so really speaking in terms of how much of that pot you’re losing to the house, were one of the smallest. And I think it also in terms of like, both one is the payouts themselves that are going to your, you know, to the people who are actually winning these bots because now they’ve got like 95% of the pot to split between them. And also in terms of the payoff, you know, where that 5% is actually going. So, in other platforms, generally speaking, that both sides, first of all, it’s smaller at 75 80%, sometimes around there. And that’s being distributed, really speaking between a very small group of people, you’re looking at 25 30% Max, so 30 people out of every 100, that participate are essentially taking something back, in our case is very, very different, because we’ve got a much, much larger, you know, pie to sort of play with, we’re able to include a lot more of the playing population, which means that we can distribute winnings to like, 75% of the playing field, which is almost double of what our competitors are able to do. And not just that, but we’re also able to compensate the, you know, the 25% of the people that haven’t really won the, you know, the losers, so to say, you know, with a 5% cashback. So if you’re part of that remaining 20%, that just hasn’t been able to cut it, you’re still getting 5% of whatever you’ve gotten back to you. Which is to say that I mean, when you’re participating on a platform, there really isn’t a way that you’re using your entire amount, you know, that you’re gonna essentially win with every single, you know, play that you make, not just that, but you’re going to take home much more, because of the fact that we offer much more. And over the long run, you know, when it comes to the debit side of things, in terms of the ownership itself, the ownership is yours. And most of the platforms don’t do that, you know, being able to, let’s say own DraftKings being able to own a part of it, being able to take the profits that it generates, it’s a huge thing. And there are very, very few people who are privy to that, you know, what I mean? So from the point of view of what we’re doing with that 5% really speaking, that profit is profit that the protocol makes, and not a lot of platforms, you know, in the blockchain world can say that they’re generating profit right off the bat. So, in our case, what we have the opportunity here to do is not rely on fees, you know, not rely on you know, traditional token, you know, distribution schemes, we rely on profits, you know, that are distributed to the people who actually matter the stickers in our system. So if you want to own DraftKings, you don’t have the ability to but if you want to own a file As the Support Platform, you can come here, buy a few tokens and stake them, you notice, essentially, by taking your, you know, the profits that the platform is generating, that’s what you are, you know, a stakeholder. So I think like, in terms of what separates us from people, ownership of the platform, and you know, the profit-sharing mechanism that we have in place, and to, obviously, the large returns that you’re going to get when you’re playing. So traditionally doing these two things in tandem, we’re looking at really, really speaking, you know, a generational opportunity.
Spicey | OIG:
And I like that you mentioned, you know,, from a UI and interactions standpoint, that you’re not really changing it to look like something that people have never seen before. It’s something that they can they’re accustomed to having used in the past. But it also brings us a fresh breath of innovation, by integrating blockchain as well as different features that you mentioned. So it’s very cool to see. Now you also touched on the fury token, I’m sure there’s a lot of utility to come with that. Could you dive in a little more into that?
Adrian:
Sure, absolutely. So um, the fury token is a fixed supply token, we’ve got 420 million tokens. And out of that, what we’re doing is we’re doing a fair token launch, where, actually, we haven’t done any IDOs really, and we’re not planning to we have done actually one pre-sale with Atlas protocol and a huge success. But really speaking, what we want to do is we want to have an egalitarian approach to this, we want to make sure that people have a fair chance of getting our token at a fixed price. And as many people have that chance as possible. So you know, in terms of like, the tokenomics itself and the Fury token, it’s going to be an in-game token, which means that the utility of the token itself comes from its usage in the game itself. And I think that what separates us from most other platforms that use their token in game, like Axie uses SLP is the fact that like, the way that we use the token itself, in terms of pricing our contests is not done in the token, it’s done in USD. So what this does is one is it maintains the integrity of your entry fees, it maintains the integrity of your prize pool, and it also works based on the price of the token itself. So when you’re, let’s say, putting your bets in ideally speaking, you’re putting $10 worth of theory into your bet, you’re not putting 10 theory or $10. And what this does is based on the price of you know what Fury is at that point, you’re actually buying the token at that price and then moving it in. But actually, when we do it on our side we store it in USD so that we maintain that integrity again. So when you have a system where the integrity of the price pool is maintained, when you’re making payouts, you maintain the integrity of the payout as well. So if I promise you that I’m going to pay you $100, I need to maintain that promise. And the way that we do it is by ensuring that we hold it in USD. And then when the bails happened, actually market buy our tokens at that point to give out rewards. So what this does is it does two things. One is it provides a huge amount of market buying pressure both when you’re buying tokens to enter and then bind to push the tokens back out and is because of the burn mechanism that we have in place, the burn isn’t arbitrary, it’s based on the price of the token. So if you have a high token price, you’re generally going to burn very few tokens. Versus if you have a low token price, you’re burning a lot of tokens. And then these are essentially being burned from your token from your circulating supply itself. This, essentially, I’d like to touch on two things here. One is obviously the way that the rewards are being distributed because most other protocols either do it through fees or through allocations, which is inflationary. In our case, what we’re doing is we’re distributing these rewards from the circulating supply itself, and then burning from that circulating supply to bring the circulating supply down. So not only are our reward programmes, non-inflationary, the burn mechanism itself makes the entire experience deflationary right from the get-go.
Spicey | OIG:
So definitely a lot of utility in it within the fury token. Could you tell us more about the fan clubs and how they interact with the platform?
Adrian:
Yeah, absolutely. You know, so, like I was saying before when it came to, you know, the distribution of profit itself, the way that this 5% of rake fee is distributed essentially is 40% of that is given to us take us profit distribution right into the hands them, and 40% out of that is bought. So like I mentioned, a burn mechanism essentially burns based on token price. What we’re also doing is we’re distributing a small percentage of that to our liquidity providers, which in this case, is the platform itself, we have a protocol, our own liquidity, and we can touch on that later, a small percentage of it goes to charity. And then a small percentage comes to the team for further development. When it comes to, you know, going back to the stakers themselves, one of the things that we’ve done is to really, really, like I said, innovate on the debit side of things. You know, going back to my point about keeping the experience really, really as simple for the user as possible. The fact is that he needs to take part in staking you know, there is no to weighs about it. And we have a bonding programme as well, which means that we need to ensure that he’s taking part in bonding as well. So one of the ways that we’re doing that is is essentially using, you know, lower and, and sort of background visual design. So think of it as, you know, you’re, you’re essentially coming into this system, you need to join a, you know, one of these sports fan clubs, let’s say, the LA Lakers fan club. And then when you join that club, you’re essentially paying a membership fee, you’re staking amount. So in this case, what we’re doing is we’re ensuring that people sort of come in and take part in the staking experience. And we’re tying it to something that we love, you know, clubs, that that they follow everyday clubs, that they, you know, games that they watched games that they sometimes go to, you know, teams that they really follow on teams that are really close to there, you know, being so to say. So the idea here is that we’re giving them the experience to do one own that Fanclub within the game itself. You know, so being able to actually own that fan club within the game, and then after that, being able to actually profit from that as well. How you profiting profits from the platform, you know, so we’re really looking at, you know, the fans, fantasy sports players themselves as being the owners of this experience, because I mean, who’s going to really, really want to own that fan club is a fan of that club. And, you know, we’re trying to, we’re trying to tell people, Look, there is one of these in the game, you know, per club, if you are that fan, and you really want that club, it’s yours for the taking, you know, you just need to come in and show people that you deserve it. And that that’s not by bidding the highest because that’s just too easy, right? So what we want to do is we want to say that you bring in the most number of people to support your bid on that Fanclub. So you know, let’s say the key you want Chelsea Football or Chelsea fan club, you’re going to go to all your supporters and tell them, hey, you know what, we got to get this because like, I want to do you know, Chelsea fan club, and you guys are Chelsea fans, you want Chelsea fan club. So let’s get this and you bring in as many people as you can, um, you know, so the idea is you create this competition between fans themselves to you know, really want this fan club, because you’re getting two things. One, that pride that comes with like, you know, I own you know, Chelsea fan club, within this game, there’s one of its time went to obviously the revenue that you’re going to generate, which is really speaking, perpetual, because as long as you have sports happening, you’re going to have sports bets being placed, as long as you have sports bets being placed, you have profit, you know, so really speaking, what we’re driving home here is that this isn’t really a traditional staking experience for your audience, this is a chance for traditional audiences to own a fan club within a game, and also make a lot of money from it. So the option itself is based on the number of people that you bring in. So the winning person, let’s say, Vicki, you brought in 5000 people, but along with you, there were three other people who competed for Chelsea and they each brought in, let’s say, 2000 people as well. Now, what’s going to happen is that you are the owner of this fan club. So as an owner of this fan club, you get 1% of the revenue that this fan club generates. And to all those people that were essentially brought in from your competitors, all of them are actually part of your club as well, they are part of your staking experience, so to say, so they bought into the club, they are buying into the celebrity, so to say the celebrity is just the conduit, so not only do you now have access to your crowd, you’ve got access to this crowd as well, which is a huge, huge crowd right. Now, when this essentially goes into staking into the staking system. You know, Becky has Chelsea fan club and Chelsea fan club has 10,000 People who are staking, you know, 100,000 tokens in that fan club, just like you there are other, there are 249 other team teams out there with 249 owners with their own group of, you know, stickers, so to say or, or members, in this case, the idea is that we gamify that, and that’s gamified every single day. So every day 20% of the total staking rewards that are distributed the profits, go to that top club that finishes at the top when the staking rewards are being distributed. So it is up to these owners to go out there. And you know, Shawn, for bringing folks in and say that, you know, we want to get as high up that table as possible, because we want that 20% versus a huge amount. And as owners you get 1% of that, you know the price that you’re staking group is assigned. So to say Add to that the fact that the staking mechanism is auto compounding and we’re looking at like huge huge amounts of rewards being distributed to fans themselves and fantasy Source Players who can come back and play bring their friends and really speaking, you know to be the organic source of revenue that they will depend on.
Spicey | OIG:
And you make a very good point of bringing ownership to the consumer, the fans, and the users, which has been neglected in the past. And really by giving the power and the monetary power and putting it back into the consumer's hands, you create a more wholesome experience for both the consumer as well as you know, the clubs themselves. It’s great to see that you know, appreciate and understand that they are the reason that we have this platform, to begin with? Right?
Adrian:
absolutely. And I think, also, in terms of like, think the way that we’re conducting the auction itself, you know, because we don’t want, you know, someone from Daffy to come in and put in a bid that’s just so high for, you know, a real fan to come in and, and sort of outbid, what we’re saying is that this isn’t about, you know, how much money you have to bring in this is about how many people can Iyou know, really look at you as being that leader, you know, to bring that crowd. And so think of, you know, the content creators out there, think of the guys that are really, really doing, you know, God’s work when it comes to their clubs, you know, they put out a load of, you know, country content right now, in some cases, they charge, you know, membership fees. But ideally speaking, what they’re doing is, is relying on a sports institution for their revenue daily. And the idea is that we are giving these guys an opportunity to say, look, you know, what, you don’t need to rely on your, on your subscribers, or that model itself. In order for you to put out good content, you need to put out good content for your sports club, it’s because you love your sports club. So why don’t you let that sports club day you back now? And the way that it can do that is by ensuring that you have this, you know, a continuous stream of revenue coming in a month on month. And from your, you know, from your, from your audience, you know, think of a YouTuber who’s got his audience paying $100 or 150 pounds per month for his subscription package. The idea is to tell them, Look, you don’t need to pay that every month, what you need to do is just come in during this auction and bid on my, you know, my, my sort of claim on Chelsea fan club. And if you win, you know, you don’t ever need to pay subscriptions ever again. Because not only is it a one-time subscription, sort of payment on your side, it’s also a chance for his subscribers to come in now and take this in this, you know, stream of revenue that’s going to, you know, flow into him over the over the long term of you know, traditionally speaking as long as he steaks. And to be honest, the idea here is that because these are fantasy sports players, they don’t understand staking, they don’t understand the whole idea behind. You know, putting my coins into staking is as far as they’re concerned, I have a small part of this fan club, I’m earning some revenue from the fan club.
Spicey | OIG:
Impressive stuff. Really, really, really cool to see it. And, you know, really excited to see this in action. I’m sure everybody else is. So let’s switch gears here and move on to our next segment, which is our Twitter questions. And we’ve selected five Twitter questions from our ama announcement. And we’ll start with question number one.
Twitter Questions
Spicey | OIG: So question one, what are the ways for your project to generate revenue in the long run? What is the progress of business development? And what are some of your commercial partnerships?
Adrian:
That’s a great question. So we actually have, we’re actually talking to a few Premier League clubs, we’re talking to a few athletes, our roadmap essentially has a lot to do with, with athletes and with, you know, with the sports industry in general. So what we do have is we have an NFT project that’s coming out very, very shortly. It’s going to launch sometime in June, and post that we’re actually looking at an athlete Tech’s so think of, you know, athletes with their own social tokens, you know, being able to create their own small social economies. You know, so there is a lot that goes into that, there is a tremendous amount of work that we’re looking at. But in terms of commercial partnerships, we’re looking at, you know, trying to focus on clubs, we’re trying to focus on players, which we will be doing some very, very big announcements, I would say in the coming week. So I’d say lookout for that, you’re going to see Fan fury plastered in quite a few, you know, places when it comes to television audiences as well. So this is going to happen, you know, before a public sale is whether it’s during a public sale as well, going on to the game is and then we’re looking at some brilliant new deals with the new season as well. So we have big, big plans with partnerships, that’s, that’s going to drive a tremendous amount of opportunity into the platform itself, both from sponsors as well as from, you know, television audiences around the world, because obviously, being able to associate with a big-time, as the Premier League gives you certain opportunities that come with broadcasting more than that, I think that in terms of the way that we’re looking at, you know, selling these fan clubs itself, you know, the idea is to bring in a huge amount of people from the fantasy sports industry. And to be honest, it’s a fraction, it’s a drop in the ocean. You know, when we’re looking at the fantasy audience itself, or dream 11 which is an app in India, they hold they have 130 members, you know, playing members, the unemployed, a million playing members, you know, when you’re looking at the entire blockchain wallet industry and looking at 100 million wallets, sort of gives you an idea of the scale at which, you know, gamers sort of game and when we’re looking at, you know, the entry points for these people, they’re tremendously low. So, I think that in terms of revenue generation, we have a huge opportunity when it comes to partnerships when it comes to the athlete decks itself because the token of exchange is going to be the fury token. And then what we’re also looking at doing is, we have a Banking Integration coming up as well, which means that you will be able to on-ramp off-ramp directly from our platform, you will be able to use your debit cards directly on our platform to buy in, you know, to the fury token, eventually, and this is not very long, we’re looking at q3, probably, you’re going to be able to have your own Fan Fury, debit cards, this is going to allow you to do a lot, I mean, the opportunities that come with this are tremendous. And I really want to, you know, sort of touch on this, the fact that you know, you can use that debit card anywhere in, you know, over 180 countries to spend in your local currency, you know, you don’t have to have the local currency, you can hold your money and USD and Bitcoin and, you know, fury in this case, and be able to spend that locally in Thailand or the Philippines, so to say, you know, so being able to do that is a tremendous opportunity, obviously comes with KYC requirements, but I think that the opportunity cost itself is not as much to pay when it comes to being able to do the kind of, you know, things that we’re allowing people to do. So, in terms of the, you know, the value of the token itself, the fact that token is associated with all these different properties, you know, either the token itself, or variations of the token, you have a theory, which is our cashback, in the game, you know, you have to stake a certain amount, you have to join a club, you don’t have membership in one of these clubs, in order for you to claim that fury, so it encourages people to stake as well. So, the bank itself, you know, has x theory, which is going to be a staking token available for, you know, access to profits that are going to be generated by our banking entity. So when it comes to the value of long term value of the token, it is huge, not just in the sports market, but in the fantasy sports market, as well, as, you know, the banking market as well,
Spicey | OIG:
that’s a lot to unwrap there. I mean, you know, having, first of all, having an on-ramp and off-ramp capability. And then also having a debit, a debit card that’s going to be available soon, really removes a barrier of entry to, to anybody that’s looking into fans.
Adrian:
being able to, we’re offering people the ability to create IBAN accounts. So you can create an account worldwide is what we’re tying up with, being able to open an account from probably anywhere in the world, right now, most of our competitors are either focused on the US or the EU, they’re not really focused on sort of worldwide adoption, but we are. So we, you will really be able to sort of, you know, bank worldwide, and giving people the ability to do that from a fantasy sports app is tremendous for us because it really means real-world adoption, you know, because of the scale and the numbers. And, you know, what we’re saying is that if you, let’s say move your salary to our bank account, we’ll give you a free ETF along with that as well. So you if you can, if you can essentially promise us five years of salary to that account, we’ll give you a free ETF of, you know, Bitcoin, Ethereum and a couple of AVAX assets that comes to you free, you’re not paying for that, like we’re essentially putting in the deposit that’s going to be required to buy those assets, etc, into those assets on a monthly basis. So, you know, giving people the option to have a 10% interest rate and then also have the ability to get a free ETF.
Spicey | OIG:
Yeah, okay. It speaks for itself a lot of incentives for anybody looking to, like, get involved with Fanfury as well as just anybody looking for a banking solution. Like you said. from a global standpoint. This really aims to help people all over the world and provide that bridge from crypto to fiat. That really makes it easier for people.
Adrian:
fantasy sports players are lazy, they don’t want to you know, understand a whole lot of stuff. They want to come and spend their money and then take their words out. So I mean, the system is really designed for them to do that. Your social logins will make it very easy no seed phrases for you to remember. Just log in socially, and then be able to on-ramp off-ramp with your debit card, credit card bank account, being able to you know, cash out with that. These are huge, huge opportunities for us
Spicey | OIG:
know for sure for sure. Amazing. Let’s move on to Twitter question number two, there are already a few fantasy gaming platforms available in the crypto market. Can you please tell me the main advantages and benefits of choosing fan fury? How will you attract gamers from other platforms? What will you offer them so they will come to start and play with Fanfury?
Adrian:
Yeah, I think that you know really speaking this goes to our you know the core of our Ethos and you know how we’re conducting our fan club seals Because really speaking, you know, who are the owners of, you know, fan fury is, you know, one of the only community-owned fantasy sports platforms out there. And what we mean by that is we are really speaking, giving the ownership of the platform to the community. So, you know, when you offer fantasy sports players, you have the opportunity to take part in, let’s say, you know, ownership of DraftKings. They take it, you know, here, you’re not given that opportunity. But we’re giving you that opportunity here. So when we’re talking about like, bringing in real-world players, our entire focus is the real world, we really aren’t focusing on a crypto audience, because it’s an audience that’s too small for us to, you know, really speaking target in order for the growth that we’re looking at, you know, the only way that we can really achieve the growth that we’re looking at is by targeting a traditional fantasy sports audience. So by you know, you know, pushing these fan clubs, pushing the option and the sale of these fan clubs, to a traditional fantasy sports audience, like, you know, we were essentially targeting content creators, were targeting sports content creators, fantasy sports content creators, the guys that really, really are in the game themselves as being owners of these fan clubs. So when we talk about, like, you know, bringing in people to play the game itself, the owners are people who play the game, you know, which means that they themselves are either going to be playing every day or bringing in other players organically into the game, you know, from other platforms, you know, we have essentially the best, you know, organic team growth that any platform could ask for like DraftKings and FanDuel, spend 800 million a year, you know, trying to try and replicate this experience, you were essentially going to do it for free. Being able to like, you know, rely on your, on your investors, so to say, to bring an organic audience, how many people can say that, like, your investors want their money back, these guys want to play fantasy sports, that’s, it’s as simple as that. And the ability to then become an owner anytime you want, you know, be able to take part in the profits of the platform whenever you want, being able to just buy the token and stake it and you suddenly are like, you know, taking profits from this huge, huge enterprise, because fantasy sports really is a monopolised industry, you have 10 platforms, maybe all over the world. And these 10 Really, really control 90 95% of the market, and the market is a $21 billion market. So when we are looking at the $21 billion, where is that money coming from? It’s coming from players. So being able to give these players the opportunity to then own part of that, you know, a very elite group of people who take profits from this is a tremendous opportunity, and one that we’re going to exploit, you know, to its fullest. So our entire focus, I’m going to say is a traditional fantasy sports audience. It’s this, it’s this billion-dollar, you know, audience out there that is just waiting to be tapped. And then the solutions that we’ve worked on with terror, you know, being able to leverage the terra network itself and the and the primitives that it offers is one of the huge huge reasons why would he want to offer reward systems that are not just out of this world, but deflationary as well.
Spicey | OIG:
Yeah, very good point on focusing on traditional markets to promote organic growth. Because I mean, you know, if it ain’t broke, don’t fix it, right.
Adrian:
For most of these fantasies, both platforms rely on three things. They, they rely on acquisitions, they rely on retention, and they rely on, on reward programmes, they’re only able to sustain their reward programmes through a very small period of time, three weeks maybe. And then you see a huge decline in retention simply because they cannot afford to give their customers that. So acquisition, retention and rewards. These are three things that we spend nothing on. So acquisition comes through our owners because their fantasy sports players retention comes because they are owners of the platform, they are they’re not going anywhere. And then you have essentially, your rewards and your referrals coming through these players themselves, who are bringing in other players and because of the fact that we’re working with blockchain and terra, we have a reward system that can really speaking, like we got anchor that’s giving us 20% interest every year, that just it’s tremendous. For us, I mean, even if we take 5% of that interest like it just blows everyone else out of the water, we can afford to up that, you know, reward the 5% cashback up to even 10 Maybe 12% without feeling a pinch, you know, with still giving us stickers, healthy profits.
Spicey | OIG:
Really, really cool stuff. Okay, so let’s move on to Twitter. Question number three, most games today are expensive for some people to join. Does Fanfury support small scale investors?
Adrian:
Yeah, absolutely. I mean, which other, you know, game company in the world is going to give you the opportunity to do you know, DCA to their profit programme with a $10 entry fee. So, we’re saying that with $10 you become an owner, you start taking profits in this large enterprise, and then, you know, with another $10 Well, don’t wait, we’ll wait for your rewards to pay out in three days. And you’ll have enough to, you know, have game entries. So the idea is that the lowest entry fee for us is $10. What we’ve noticed is with research we’ve done, generally speaking, people are willing to pay up to $25 for an entry fee. And this is worldwide, we’re not just looking at like a US audience, we’re looking worldwide, we’re looking at the Asian markets tremendously. And I’ll come to that as well. But like $25 is generally what people are willing to pay, we’re looking at 10. So you can then dca into at least two games a day. $10 is not particularly large. And what we’re saying is that you don’t need to learn anything here. You know, the idea here is that, because of the learning curve being so steep, you know, people already know the game, they don’t need to come here to learn the game, they already know what they expect a certain reward from other platforms, they’re going to get double of that here. So I think that with that first experience, you’re suddenly going to realise that you know what, this is sustainable, long term, and I’m going to get this on every game. Why do I go back?
Spicey | OIG:
For sure? No, I mean, up until this point, there are just so many benefits for joining Fanfury I really don’t see the need for any other platform. And obviously, that’s gonna show time will show the revolutionary product that Fan Fury creates
Yeah, we’re coming for everyone. I mean, we’re coming for everyone.
It’s great to hear. Let’s move on to question number four. What are the main sports for which fan theory has adopted it in its protocols? Many platforms focus only on soccer as the most recognised major sport worldwide. But do you plan to bring your protocol to the NFL or NBA?
Adrian:
Yeah, that’s a great question. And I think a lot of platforms focus on football, because really speaking, Blockchain doesn’t offer any more, you know, solutions when it comes to data itself, or, you know, so if you want to have decentralised data, first of all, football is okay, you will get you’ll probably get sports data, you know, sportsbook data, yes. But we’re not a sportsbook platform. We don’t do gambling, we’re a fantasy sports background, we’re very clear about that, you know, even when it comes to regulations themselves, you know, so I think that like when it comes to the data itself if you want to have decentralised data, it doesn’t exist when it comes to other sports. So one of the big things that we’re doing is that we are essentially taking on that, you know, that mantle, so to say, of coming up with this fantasy sports data, so yes, we will have NFL fantasy sports data, yes, we will have the NBA fantasy sports data, not because it already exists, but because we will create it, we will validate we will have our own Oracle’s, we’re creating those Oracle’s, you know, so you will be able to get validated fantasy sports data on any of those sports, you know, going forward, which is to say that, yes, we will have other sports as well. And it’ll give other platforms now the ability to increase their sports folio as well. What we’re doing is, in terms of market research, obviously, football is this massive sport worldwide. So yes, people start with it, because it’s the safest bet. In our case, it’s going to be very similar, but we’re also looking at cricket. And this was one of the first posts that we started when it came to decentralisation, Decentralising the data because it’s a huge market here in India. And like I said, 130 million on a single platform, and they cover like 90% of the country. So you know, when it comes to like targeting the subcontinent, we’re absolutely looking at it, we’ll definitely be looking at cricket as a sport, we will, I’m going to say that we’re going to try our best to launch with both football and cricket. Although I will say that the NBA the NFL, and I’m going to say either the NHL or the MLB will be very, very close to following that. We’re also looking at MMA, which will come in a little later. So really speaking, I mean, we’re not just looking at, like, you know, from a from fantasy sports players' point of view, giving you a lot of options, but from a blockchain point of view, giving so many other protocols, the ability to now call on our data, and be able to essentially use that data to build out, you know, innovative new platforms, both in the sportsbook industry, as well as in the fantasy sports industry.
Spicey | OIG:
yeah, it seems like it’s in everyone’s interest for Fanfury to succeed from both a developer standpoint, as well, from a consumer standpoint, just having the decentralised data available. To call to, as you said, will be a benefit for anybody in the industry as well.
Adrian:
By sort of integrating, you know, payments provider and so many other, you know, traditional web tools into the, into the platform, it gives us the ability to then say, you know, very much like the data network itself, you know, reach out to other networks and say that, like, you know, we can be the conduit, you know, we can be that, you know, it’s in your interest, you know, for us to succeed, like you said,
Spicey | OIG:
Yeah, very cool stuff. Now, let’s go on to our last Twitter question, I would like to know what will be the percentage of fury that will be distributed to gamers who stick to the liquidity stake Pool? Will the additional earnings of fury be done on a continuous basis? What period of time can gamers withdraw? What they have staked?
Adrian:
Yeah, so one of the big things that Fanfury is doing is, you know, what we’re doing with liquidity and our and our treasury. So I’m going to touch on the liquidity first, and then we’ll get to the Treasury probably just after that. So in terms of liquidity, we are ensuring that we have protocol own liquidity. So it will be possible for people to take part in a bonding procedure where they are essentially eligible to claim theory tokens at a discount. And what they’re doing is they’re providing us with liquidity in order for them to get their fury tokens at that discounted price. So the idea here is that we’re not giving people the opportunity to take part in the LP side of things, but we are giving them the opportunity to provide that liquidity to us. So what this does is, in most other platforms, you’re renting beyond liquidity to the protocol, right, the liquidity, the protocol is essentially paying you or renting fee, by rewarding you with rewards. But essentially, it’s your liquidity and you can take it out whenever you want to take it out. Whereas in our case, what we’re saying is that we will buy that liquidity of you, and we’ll buy it, you know, the what we’re giving you in return is discounted fury. So what this does is in our case, it gives us the ability to one own our own liquidity and ensures that you know, we don’t have this, you know, black swan event, so to say and do is it ensures that because of the fact that the liquidity rewards themselves are coming from two places, one is it’s coming from an allocation that is allocated to the bonding mechanism itself. And two is it’s coming from the fee itself. So like I said, 10% of the allocation goes to your liquidity providers, and that’s us, you know, so in terms of adding to the liquidity that is perpetual as well, because I mean, as long as it’s coming from profit, one is it’s non-inflationary. Two is it’s going to be endless. Um, you know, as long as, as I said, the platform is live, we are essentially putting profit into that liquidity pool. So it’s essentially getting deeper and deeper and deeper and deeper. What what, what this is going to do is, you’re going to come to a point where you have, you know, very, very large amounts of liquidity in that pool, and it’s going to be locked away, like, you know, people aren’t going to be able to take that liquidity out, because they don’t have any thought of that liquidity. And because of the bonding mechanism, we’re only running bonding for three years. So if you really want to get fury tokens at a discount, you’ve got three years to do it. And, you know, that’s it, you’re done. So really speaking for, for people, this is a limited time offer, you know, if you want to get fury tokens at a discounted rate, this really is a limited time offer for you to get those tokens as early as possible, because we’ve got a very limited supply, a lot of it is going to be locked away in staking programmes over the long term because of these traditional fantasy sports players not really knowing what staking is about. So when it comes to that, that you know that supply, it’s going to diminish very, very quickly because of you know, the burn on every single contest. So you know, you’re going to want to get that discounted fury as early as possible. And the bonding is going to be possible through two mechanisms. One is through providing liquidity, USD fury tokens. The other is by providing plain Jane USD. And the way it works is that if you’re providing both tokens to provide an LP, you’re it’s going to go into the liquidity contract. But if you’re providing plain Jane USD, it’s going to sit in our treasury. And what we’re doing with our treasury is really important as well. So what the Treasury is essentially going to do is it’s going to hold three assets, it’s gonna hold a USD, which is anchors, anchors deposit token, it’s going to hold as gold tokens, which is essentially gold tokens that are essentially tied to a gramme of gold. It’s 22 karat gold. One gramme of gold is one token and generally hovers at about $61 a token. And then we’re also going to have pluna, which is essentially Lunars principle token, it’s the, it’s the price, appreciate price appreciation. So you have 40% sitting in a USD, which is generating interest. And every year that interest goes into three things. One is it goes into token buybacks that go to our stakers again, a small part of it goes back into that reserve to again build on the next year. And the third part, is that 5% goes into a team account, which is used for the team to then further our development as well when it comes to the ESCO tokens. That’s another 40% of our treasury and what we’re doing is eventually we’re going to have a system because of the fact that our token is deflationary. We’ll get to a point where around the to 40 to 50 million mark where we will be able to back every single token in circulation with one gold token being held in our in our treasury. So what this does is you’ll have a floating price that floats above $61 And if at all it hits $61 You can come to our platform claim gold token and then be able to get a hold of that gold token or be able to cash out that token for physical gold on a partner website.
Spicey | OIG:
Wow, just so many features and so many different things are and ways to you interact with Fanfury. And I mean, it’s just so much done, Rob, I love to love to hear all these features, and I can’t wait to actually use them like for myself in just like, I’m going to obviously take advantage of the fury tokens at a discounted rate now, and you know, reap the rewards when it does go live. So that’s very cool stuff. So that wraps up our Twitter questions. And let’s move on back onto our ama series. And we have just a couple more questions left. So let’s go through your roadmap up until this point, what are your achievements that you are most proud of?
Adrian:
Yeah, so I think like some of the achievements, that that we’re really, really proud of, is, you’re obviously having our banking integration, that’s a huge, huge thing, being able to offer on and off-ramps to an audience is a major, major thing. It’s, it’s, it’s something that, you know, people build protocols around. So, you know, when it comes to being offered, being able to offer that service as a sub-service really to, you know, the protocol, it’s a huge, huge, you know, feat and an achievement that our technical team can really see, save, you know, take the hats off to them for that. The second thing is, obviously, in terms of like the contracts, you know, themselves, these are really, really complicated custom contracts that we’ve built. These aren’t traditional contracts, you know, these are large, you know, transaction contracts that we’ve had to build from scratch with a team that really, really speaking started with no knowledge of rust, and very, very little knowledge of blockchain development. And the progress that this team has made for months is amazing, you know, to be able to then have in the industry call on their expertise for certain things, it shows the amount of maturity that they’ve achieved, you know, in a very small amount of time. And I think, like, a lot of that is down to the fact that we’ve gone through a lot of changes to the protocol from what it really started with, to what it is right now. You know, so being able to offer people the ability to have social logins with the platform is huge. You know, it’s a, it’s a major problem and the web three world right now, and really speaking, you know, Id as a service is going to be massive, you know, in the coming year, in my opinion. And I’m not saying that we’ve solved it, you know, we’re still running integrations, but being able to offer it as part of, you know, our main platform or having that integration possible. And then obviously, just the fact that we’ve got test net up and running, I mean, like, you can not really speaking contest, you know, test the platform out before you actually make a commitment to us make a commitment to the platform in our public sale. And there are not a lot of protocols out there that really, really offer you the ability to have a working product before their token sale, and their token sale actually being a fair token sale. You know, so when it comes to what differentiates us from other protocols, I think like 99% of protocols are going to be different from this, because we have a working test net, we haven’t done a public sale, we’re having a fair launch public sale, and we’re opening it up to traditional audiences, as well as blockchain audiences, we’re not being discriminatory.
Spicey | OIG:
for sure, really cool stuff. So you have had a test net, I believe, and how has that gone?
Adrian:
So yeah, I mean, to be honest, our test net has been delayed, we really need to, you know, sort of shout out to the people who are, you know, are our investors, we’ve had very, very good investors who it included, who have been very, very patient with us because I think they understand, I guess, in terms of what we’re building, it really, really is revolutionary. So, you know, we’ve, we’ve, we’ve been delayed by it about three and a half, four months now. But we finally have our test net out, you know, we’re able to offer the test net right now only to terror users, unfortunately. But that will soon change. Before our platform goes live at Main net, you know, we are going to have, you know, the ability for other users, traditional users to log in with their Google accounts and stuff like that, and be able to connect their bank account. So those are the final few integrations that we’re working on right now. But test net has gone really, really well. You know, we are able to see how these clubs are being assigned right now. Right now there’s a reference system in place. So test net is actually a closed test net, it’s closed off to a limited number of participants. But if you want to gain entrance, you can through one of these reference programmes. So test net is actually going really well we’re able to interact with the chain, our contracts are interacting brilliantly, you know, in terms of the reward distribution, we’re actually about to, you know, deploy our reward distribution contracts in a few days, you know, we’re really, really going to see how our stickers perform, you know, what, what are these? What are the APR rates going to be like, you know, and we’re trying to get as much of that, you know, fitted in before our main net, I would say, but right now, I see the focus for our test. Net is just mainly on the contracts, it’s being able to really test out the contracts, make sure that we have no bugs, we’ve got no security issues, it’s important for us. And really speaking, we’re not concerned about the UI experience for the time being, because the UI is going to go through a major major Hall, because of the fact that we’re going to have lower that’s going to come in. So every club is going to have a history, you know, the club owner is going to be able to write his name into that history, you know, so there is going to be a huge, huge change when it comes to the UI itself, because it’s, it’s going to integrate elements of this history. You know, we bought an Astroverse planet, you know, so it really is going to integrate a lot of these elements from the terra ecosystem itself. So you’re gonna have fury with its own planet, people with its own factions, you’re going to have a lot when it comes to like, you know, the UI side of things and being able to call on our traditional fantasy sports audience, you know, with terms and really speaking with nomenclature that they understand, join a club, join a club, pay your membership fee, you know, buy to buy tokens at a discount. Why do we need to use staking bonding and things like that when we can, you know, very easily cover it up and then get them to participate willingly.
Spicey | OIG:
And I mean, in the grand scheme of things, three to four months of delays, not a big deal compared to, you know, the ambitious goals that you guys have and what you’re aiming to create within the blockchain space. So glad. Yeah. And the sports space, right. So glad to hear that. It’s working out and it’s gone. It’s gone. Well, and it’s, it’s on Terra. So it’s making it’s its making waves right now and making its mark on the future, of sports and blockchain. So speaking of the future, yeah. Could you tell us what’s coming up on your roadmap? And you know, what’s most exciting for you?
Adrian:
Yeah, so we actually have dynamic NFTs that are coming out. Like I said, somewhere around June, we’re trying to look at maybe the terra conference that’s coming up in Austin. So that’s one of the things that we’re very focused on right now. These are going to be 3d voxel and NFTs. Think of them as trading cards that dynamically change based on your player’s weekly performance. So you know, think of like, you’ve got like, Buckeye, Osaka, you got his, you know, NFT. And the rewards that you get every week are going to be determined by how he plays that week. So if he plays that week, and as well, he finishes up, then the gold, you know, category, you’re going to get a lot of rewards, he finishes in bronze he gets injured, you’re going to fall right down into that bronze category. So think of it as we’ve only got 250 of these cards. So it’s a very, very limited edition. And these are perpetual paying cards, which means that they pay out not just every week, but every month as well. So your weekly rewards are based on performance, your monthly rewards are just, hey, here’s a reward for your sort of payment on one of those passive income types, you’re just going to get a payment every month. So the idea here is that you know, traditional NFTs don’t really do much. They sit there as your DP and sort of make you happy. Here, what you’re what we’re giving people the opportunity to do is to invest in something that gives you passive income and not just gives you passive income, but makes you get involved that keeps you engaged with that NFT on a week on week, month on month, you’re on your basis, because it is multi-year fantasy at the end of the day.
Spicey | OIG:
Man, there’s just I wish we could keep going on with this ama because we obviously have so much more to dive into
Adrian, thank you so much for coming by and telling us about fan theory. For all our viewers, where could they find more Fanfury?
Adrian:
Yes, so we’re actually live at fury.fan. So if you get fury.fan, you can actually take part in our test net if you’re one of the whitelisted you know, entries that came in in our Jan registration programme. You can also find us on Twitter we’re very accurate we’re active on Twitter, it’s fan fury official. And through that, you can get to our Discord channels you can get to our telegram channels. Right now we’re running some, you know, weekly fantasy sports games within the discord channel itself. So come be part of that. You know, there are loads of opportunities to be part of the test net reward programme if you come into our Discord channel right now. So if you are not on that whitelist I would say get to our Discord channel and there are huge huge opportunities for you to then take part in our reward distribution that’s going to happen for the test net programme itself. So yeah, come find us. We’ve got lots to offer.
Spicey | OIG:
Awesome and all the links all the official links will be in the description below for our viewers to find out more about Fanfury. And once again, Adrian It was a pleasure speaking to you can’t wait to see more from Fan Fury
Adrian:
pleasures When all mine Thank you. Thank you very very much for having me on the show and for introducing me to your audience. I hope they love Fanfury. We can’t wait to have them on our platform. But thank you again for having me and for taking the time. I know it went, you know a little longer than you expected. But I appreciate all the time that you’ve spent with me as well.
Spicey | OIG:
Awesome, thanks. Well, OIG found me That wraps up another episode in our ama series. We hope you liked it, be sure to like subscribe and hit the bell notification button to stay up to date with all the news coming out of OIG. Remember, all the official links will be in the description below. And until next time, we’ll see you soon.
Fanfury:
Twitter: https://mobile.twitter.com/fanfuryofficial/with_replies
Website: https://fury.fan/
Discord: https://discord.com/invite/fanfuryofficial
Telegram: https://t.me/fanfuryofficial
