FUND FANTASY - Safe and Transparent Game Supported by Blockchain Technology
Hello everyone, I will introduce about Fund Fantasy Project and for that here is the Explanation:
People who are actively involved, independent investments are now a regular part of the social landscape. According to Celent 2015:
The "slap-on-the-wrist" approach has failed for years.
The online gaming market represents one of the fastest growing segments of the gambling industry.According to KPMG
"H2 Gambling Capital, a leading supplier of data and market intelligence on the global gambling industry, puts the size of the global online gaming market at about US $ 21 billion, hitting US $ 30 billion by 2012. But that may be just a drop in the ocean ... As the popularity of both gambling and online entertainment continues to grow, online gambling operators, related suppliers, and industry newcomers and investors alike. "
"Daily fantasy players have doubled in the past two years, 56.8 million people play some form of online fantasy sports in the United States and Canada, 57% have college degrees or higher, and 47% report household income of $ 75,000 and above 66% enjoy full-time jobs. "
The online gaming market has now reached the temporary highlands, as new games have not been introduced since the advent of Daily Fantasy Sports (DFS). The expansion of the fantasy model from the sports betting industry to the financial speculation market is very natural and intuitive, some say more than just sports.
FundFantasy leads the fight for games that are completely transparent and fun. As with any Fantasy game platform; access to user-submitted portfolio databases provides unfair advantage While both US-based DFS providers have imposed a ban on their own employees and their competitors, the FundFantasy portfolio data is fully encrypted and inaccessible to the FundFantasy team and its employees. Portfolio data is only published after the contest begins. Given the flexibility of transparency and fairness, FundFantasy has a good chance of positioning itself as the first provider in an untapped market and thus gaining a great foothold, for the benefit of our ERC20 token holders, and the FundFantasy community as a whole. .
The self-funded platform is built and operational, and the alpha version is scheduled to launch in the coming months. The contest will be published in the platform lobby. All details are upfront for users to be checked before entering the contest, including ticket prices, fees, prizes, dates & durations, entries and so on. Due to fixed ticket prices, the risk of participation is known in advance and is not dependent on market volatility.
The asset price comes from a well-known and respected third-party financial data provider.Portfolios are encrypted from the moment they are submitted until the contest is locked and started, at which point they will be seen by the contest participants, making our contest proved - fair from top to bottom.
Although the game revolves around financial assets, our platform does not purchase any financial assets on behalf of clients - but rely solely on market data to perform relevant calculations. As such, it is characterized by a much lighter attitude, lower counterparty risk, full transparency, and higher payout opportunities. Users enter the contest by purchasing entrance tickets and submitting their portfolios. Contests vary in duration, size, asset class, and other variables. A decentralized smart contract will govern the entire process; deposits, ticket purchases, contests, prize payments and withdrawals are all done without human intervention.
FundFantasy is the first reliable fantasy game platform for financial fans, supported by blockchain technology. Our platform enables secure and transparent games, and therefore is a natural solution to well-known problems in the world of online trading as well as the online gaming / gambling market.
FundFantasy is an online social platform featuring a peer-to-peer, provably-fair simulated investment contest where users compete for prizes by creating a major portfolio. Contests vary in duration and can range from 1 hour to a full year. Participation in a contest is done by:
Landscape Right Now
Since our platforms and games are the first of its kind, there are currently no direct competitors active. Our users share common characteristics with users of the following platform types:
Our platform appeals to fantasy gamers and online merchants. Our users will be:
- Purchase tickets and thus contribute to the prize reward. FundFantasy charges 5-10% of each contest and the rest is distributed among the winners as a prize, according to the prize allocation model. These costs are used for operational and marketing purposes and fund the FundFantasy Prize Pool (FFPP).
- Create and submit a portfolio. Users, when creating a portfolio they can select assets from different asset classes including stocks, commodities, cryptography, and fiat currencies. These user-submitted portfolios are ranked and ranked immediately after the contest ends according to their rate of return, which is calculated based on the price quotation from the well-established and well-established financial data API. Portfolios are encrypted from when they are submitted by users and are only published after the contest begins - in this way we solve asymmetric information problems that can occur when fantasy employees have access to the portfolio submitted by users; Such situations can be exploited by management or employees to gain an unfair advantage.
FundFantasy Ecosystem
Since our platforms and games are the first of its kind, there are currently no direct competitors active. Our users share common characteristics with users of the following platform types:
- Broker-Dealer Online
- Daily Sport Fantasy
- Poker Sites
- Online Casino + Online Lottery
- Sports Betting Sites
- Merchants who want to take the time out of the hectic everyday hustle and bustle, and want to play a fun and simplified version of the real thing, with a fixed risk level and an opportunity for high payouts
- Gamers who want to play new games, and want to try their economic analysis skills, or want to get acquainted with the investment world, by playing simulated versions while competing with FundToken, BTC, ETH and other prizes
As Michael J. Gutmann did:
"Trade and gambling are both fundamentally stochastic ... [and] similar as both seek to create capital gains, in a relatively short time."
In a 2015 study conducted in Taiwan, researchers Xiaohui Gao and Tse-Chun Lin hypothesized and discovered the
"individual investors treat trading as a gambling activity that is fun and exciting, which implies substitution between these activities and alternative gambling opportunities ... individual investors to trade less on the jackpot [lottery] great, or equivalent, that there is a substitution effect between trade stock and lottery participation. "
In a 2015 study conducted in Taiwan, researchers Xiaohui Gao and Tse-Chun Lin hypothesized and discovered the
"individual investors treat trading as a gambling activity that is fun and exciting, which implies substitution between these activities and alternative gambling opportunities ... individual investors to trade less on the jackpot [lottery] great, or equivalent, that there is a substitution effect between trade stock and lottery participation. "
Online Trading Market
People who are actively involved, independent investments are now a regular part of the social landscape. According to Celent 2015:
"The independent investor segment grew faster than the non-self-directed segment (4.9% and 1.4% respectively) ... The US self-reliant population rebounds from traditional investors and more towards active investors and active traders. ... Women and the millennium will continue to enter self-directed markets across all customer segments, slowly changing the profile of the self-directed average investor. "
This means that the market is already educated (and more) in the art of capital allocation, is at the core of FundFantasy. Users can involve the FundFantasy platform with easy intuitive.
It is also widely known that retail online trading is a huge market, to say the least. According to the Bank for International Settlements (BIS):
"The volume of foreign exchange trading accounts for 5.5% of the total foreign exchange market ($ 282 billion in daily trading turnover) ... the foreign exchange market averages $ 5.1 trillion per day in April 2016." And in emerging markets:
In Hong Kong, "Retail online trading accounts for 47 percent of total retail investors trading, compared with 44 percent in 2014/15".
In Thailand, "Online retail trade jumped 239 percent to 1 trillion baht ($ 30.72 billion) in February from a year earlier.8"
Unfortunately, the online trading industry has been plagued by numerous allegations of falsehood and direct fraud. One would imagine that this kind of practice would become a historical relic in the Internet age, which has so far been characterized by a massive flow of information and a relative increase in transparency. This, however, has not happened yet. The latest example is FXCM9. From Wikipedia:
"On February 6, 2017, CFTC imposed a $ 7 million fine for FXCM for deceiving its retail customers.The Commission finds that the closely related company acts as the primary market maker for its trade, and FXCM lies to its customers about the market maker FXCM receives $ 77 million "discounts" from market makers ... [CFTC] prohibits companies to register with the CFTC, which effectively prohibits it from US commodity brokerage industry "
This is a very unfortunate case, because FXCM is the first publicly traded foreign exchange broker, and over the years has become the largest retail forex retailer. What's even more surprising is this is not the first time. Again from Wikipedia:
"In December 2010, FXCM went public and started trading on the NYSE, becoming the first forex broker in the US to issue shares to the public .... The following year, in February and March 2011, several class action lawsuits filed against FXCM, and extortion of deceptive and unfair trading practices, and misleading shareholders during the 2010 IPO. In August 2011, the NFA fined FXCM $ 2 million for skid malpractice. "This
type of behavior is also on display in the UK, where, according to the director of enforcement and FCA's financial crime, Tracey McDermott
"Between August 2006 and December 2010, the Group FXCM maintains the advantages of the movement favorable market between the time the order is placed by FXCM UK and executed by FXCM Group, while the loss provided to the client as a whole - a practice known as asymmetric slippage rates."
Important to note that the purpose of this analysis is not to slam FXCM specifically, but asks many questions:
This means that the market is already educated (and more) in the art of capital allocation, is at the core of FundFantasy. Users can involve the FundFantasy platform with easy intuitive.
It is also widely known that retail online trading is a huge market, to say the least. According to the Bank for International Settlements (BIS):
"The volume of foreign exchange trading accounts for 5.5% of the total foreign exchange market ($ 282 billion in daily trading turnover) ... the foreign exchange market averages $ 5.1 trillion per day in April 2016." And in emerging markets:
In Hong Kong, "Retail online trading accounts for 47 percent of total retail investors trading, compared with 44 percent in 2014/15".
In Thailand, "Online retail trade jumped 239 percent to 1 trillion baht ($ 30.72 billion) in February from a year earlier.8"
Unfortunately, the online trading industry has been plagued by numerous allegations of falsehood and direct fraud. One would imagine that this kind of practice would become a historical relic in the Internet age, which has so far been characterized by a massive flow of information and a relative increase in transparency. This, however, has not happened yet. The latest example is FXCM9. From Wikipedia:
"On February 6, 2017, CFTC imposed a $ 7 million fine for FXCM for deceiving its retail customers.The Commission finds that the closely related company acts as the primary market maker for its trade, and FXCM lies to its customers about the market maker FXCM receives $ 77 million "discounts" from market makers ... [CFTC] prohibits companies to register with the CFTC, which effectively prohibits it from US commodity brokerage industry "
This is a very unfortunate case, because FXCM is the first publicly traded foreign exchange broker, and over the years has become the largest retail forex retailer. What's even more surprising is this is not the first time. Again from Wikipedia:
"In December 2010, FXCM went public and started trading on the NYSE, becoming the first forex broker in the US to issue shares to the public .... The following year, in February and March 2011, several class action lawsuits filed against FXCM, and extortion of deceptive and unfair trading practices, and misleading shareholders during the 2010 IPO. In August 2011, the NFA fined FXCM $ 2 million for skid malpractice. "This
type of behavior is also on display in the UK, where, according to the director of enforcement and FCA's financial crime, Tracey McDermott
"Between August 2006 and December 2010, the Group FXCM maintains the advantages of the movement favorable market between the time the order is placed by FXCM UK and executed by FXCM Group, while the loss provided to the client as a whole - a practice known as asymmetric slippage rates."
Important to note that the purpose of this analysis is not to slam FXCM specifically, but asks many questions:
- How can such mistakes and violations last so long and at such times? large scale? Is this considered to ignore the exclusive fiduciary standards for the companies mentioned above, or do they penetrate the entire industry?
- How effective are the current community methods of dealing with this problem? Should we wait until the next scandal erupts where millions of dollars of savings will disappear again?
- Should all retailers, who have foreign currency for the sole purpose of obtaining capital gains, put themselves at the mercy of the predator mediator?
The answer put forward by the FundFantasy team is the resounding three 'No's'.
- Although assuming other industry giants act well, a transparent and endless platform will definitely improve the conditions of retail traders.
- Investors looking for dividends can always buy dividends that generate stocks or bonds - but in fact the majority of retailers in the currency markets, commodities and stock markets, do so for the purpose of speculation for capital gains, that is gambling. .
Online Games Market
The online gaming market represents one of the fastest growing segments of the gambling industry.According to KPMG
"H2 Gambling Capital, a leading supplier of data and market intelligence on the global gambling industry, puts the size of the global online gaming market at about US $ 21 billion, hitting US $ 30 billion by 2012. But that may be just a drop in the ocean ... As the popularity of both gambling and online entertainment continues to grow, online gambling operators, related suppliers, and industry newcomers and investors alike. "
According to the Sports Fantasy Trade Association
"Daily fantasy players have doubled in the past two years, 56.8 million people play some form of online fantasy sports in the United States and Canada, 57% have college degrees or higher, and 47% report household income of $ 75,000 and above 66% enjoy full-time jobs. "
The online gaming market has now reached the temporary highlands, as new games have not been introduced since the advent of Daily Fantasy Sports (DFS). The expansion of the fantasy model from the sports betting industry to the financial speculation market is very natural and intuitive, some say more than just sports.
FundFantasy leads the fight for games that are completely transparent and fun. As with any Fantasy game platform; access to user-submitted portfolio databases provides unfair advantage While both US-based DFS providers have imposed a ban on their own employees and their competitors, the FundFantasy portfolio data is fully encrypted and inaccessible to the FundFantasy team and its employees. Portfolio data is only published after the contest begins. Given the flexibility of transparency and fairness, FundFantasy has a good chance of positioning itself as the first provider in an untapped market and thus gaining a great foothold, for the benefit of our ERC20 token holders, and the FundFantasy community as a whole. .
Platform
FundFantasy
The self-funded platform is built and operational, and the alpha version is scheduled to launch in the coming months. The contest will be published in the platform lobby. All details are upfront for users to be checked before entering the contest, including ticket prices, fees, prizes, dates & durations, entries and so on. Due to fixed ticket prices, the risk of participation is known in advance and is not dependent on market volatility.
The asset price comes from a well-known and respected third-party financial data provider.Portfolios are encrypted from the moment they are submitted until the contest is locked and started, at which point they will be seen by the contest participants, making our contest proved - fair from top to bottom.
Although the game revolves around financial assets, our platform does not purchase any financial assets on behalf of clients - but rely solely on market data to perform relevant calculations. As such, it is characterized by a much lighter attitude, lower counterparty risk, full transparency, and higher payout opportunities. Users enter the contest by purchasing entrance tickets and submitting their portfolios. Contests vary in duration, size, asset class, and other variables. A decentralized smart contract will govern the entire process; deposits, ticket purchases, contests, prize payments and withdrawals are all done without human intervention.
Test Run and Market Validation
Our alpha version has been successfully tested with over 100 users. Polls conducted between users indicate that:
Our alpha version has been successfully tested with over 100 users. Polls conducted between users indicate that:
- 46% will play in FundFantasy regularly
- 31% enjoy themselves and may play once a week
- 14% Prefers to trade / invest in the old-fashioned way
- 9% "do not like financial goods"
Up here the Explanation from me and for more information please visit some links below:
WEBSITE , ANNOUNCEMENT , FACEBOOK , TWITTER ,TELEGRAM
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