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What if sports fans and followers could capitalize on their knowledge of their favorite players?
With the rise of the gig economy, more individuals are looking to turn their hobbies and passions into an income stream. In 2018 the gig economy accounts for $204 billion in gross volume, and more people are joining to carve a piece out of that for themselves. AllStars Digital (ASD) has pioneered a way to partake in the performance of sports stars via a digital economy.
With the launch of its one-of-a-kind crypto-enabled sports exchange, ASD is offering a non-binary alternative for sports enthusiasts who are looking for better opportunities to trade than they have now.
ASD is the world’s first crypto-enabled sports exchange, offering traders the opportunity to trade on the performance of sports stars in both football and cricket. The platform was developed by a team with a wide range of backgrounds. This includes experts from top banks, hedge funds, brokerages, sports books, exchanges and financial data powerhouses.
ASD’s leadership team is made up of 13 highly skilled individuals including CEO Youssef Mechahouri who is the former Head of Equity Structured Products trading at RBC.
The platform’s Chief Architect, Mark Mackay, brings his software engineering expertise after building Indices and Financial Systems at Barclays, Bloomberg, and the London Stock Exchange Group.
Each player and their performance are considered an asset. Traders are then able to choose which stars to invest in. As a star’s performance improves, the asset price reflects that growth.
The opposite is also true. Should a player’s performance suddenly decrease on the pitch, their asset price will reflect that drop.
AllStars Digital tracks a wide variety of stats including tackles, passes, shots on target, assists, and scores. These stats are then indexed and influence the price fluctuations in real-time. Overall, there are more than 500 data points per sport that influence the asset price and performance.
For seasoned investors and traders, this works similarly to perpetual cash future assets. These initial data points create a base price, but other factors can influence the value as well. This can include a player’s ranking on the exchange, sentiment for that player, and more.
Interested investors can participate in both long and short trades, while spreads are around the 1% mark. In other words, those who have traded assets before will find ASD is no different, despite it being a new kind of digital asset.
Sports enthusiasts don’t have many options when it comes to capitalizing on their knowledge of certain players or sports. If they don’t know how to play the sports themselves or coach, then they’re left with a hobby that remains just that. With more than 1 billion global cricket fans, and more than 3.5 billion football fans, globally, those are a lot of disappointed sports enthusiasts who won’t be able to enter the gig economy.
ASD offers an investment alternative that allows users flexibility, a satisfying user experience, and a way to turn their passion into a potential residual income stream. Instead of offering binary outcomes, participants can manage their positions, entering and exiting at any point.
ASD is a data-driven platform that helps users predict prices if they are well-versed enough in their favorite sports teams and players. Avid sports fans will certainly have an edge in predicting the outcomes and investing in the right players.
The crypto-enabled sports exchange relies on an algorithm coined Adrix. This algorithm gathers data on various aspects of a player’s performance to give him a score on the Adrix index. Some of the previously mentioned 500 data points include the number of goals, number of assists, number of shots off target, and more.
Each of these metrics has a certain number of points associated with it. These points get tallied up and depending on the total will be assigned a certain price. To explain it simply, these points are evaluated based on the expected performance of a player’s position. For example, if a defender scores a goal, they will receive more points than a forward would since it’s not considered their responsibility to do so, and it shows extraordinary performance or effort.
A player’s score changes after each game as the Adrix score is recalculated based on the player’s performance in each individual game. Once that score has been calculated, it’ll be showcased on a dashboard called the ‘match centre’. A trader or investor will be able to look at the match centre to see how well they predicted their player’s performance.
The top five scores or players are considered a guaranteed win for the trader as these will end “in the money”. Additionally, the bottom five rankings will end “out of the money”. This is based on a 75th percentile ranking range.
The innovative approach of AllStars Digital brings an entirely new experience to those looking to engage with the sports they love. The platform caters to both sports fanatics and investors through its real-time analytics, price action, and staking opportunities. By incorporating the latest in financial and data tracking technology, ASD offers a top-tier experience on par with the biggest exchanges both on the blockchain and off.