TradeStars, the first fantasy stocks platform on Ethereum just announced it has completed its strategic investment round, raising funds for further development of the platform.
TradeStars made the announcement on Apr. 22, after successfully raising $1.67 million through a privately held funding round. This round was led by AU21, Block Dream Fund, and LD Capital Partners with the participation of Sfermion, Taureon, Spark Digital Capital, Morningstar Venture, Free Company, Hype Partners, Faculty Group, and others remarkable key individuals.
The investors who participated in this private funding round bring a wealth of knowledge, experience, resources that play a huge role in shaping TradeStars into a platform that all users can benefit from.
The funds will be used to accelerate product development and growth that is critical to Tradestars’ mission of transforming gaming and providing more immersive and enjoyable experiences.
Securing funding in the crypto space is crucial for a new project as many investors are focused on already established projects. So, when investors back a new project it usually has a unique value proposition that makes it appealing to investors. Tradestars is such a highly valuable project as noted by LD Capital CEO who said:
Tradestars is definitely one of the most innovative NFT projects in our portfolio. First of all, Tradestars’s valuation proposition is unique. It provides users a method to leverage and trade fantasy stocks for their favourite sports players by creating digitized versions of actual players. This provides users a brand new way to exchange sports knowledge for joy and benefit. Anyone who wants to find out how much his sports knowledge worth, Tradestars will be his go to platform. Billions of traditional sports fans will be attracted to the platform as well as the crypto world.
The team behind a project is also very important for investors as they usually play a significant role in its success or failure. The TradeStars team was a strong indicator that earned them the endorsement and investment of Sfermion with the fund’s representative stating
TradeStars is a crypto-native fantasy sports application. TradeStars democratizes access for users around the world who want to use their sports knowledge to bet for, or against, athletes and games. We are extremely happy to support Christian and the TradeStars entire team.
Therefore, the funding for TradeStars shows that the market believes in its idea and is ready to support this idea becoming reality. With this funding, therefore, TradeStars is set on a new trajectory that can only be hoped for by new projects.
TradeStars unique approach to gaming
TradeStars is the first decentralized exchange for fractional NFTs that’s focused on creating a fantasy stock market. TradeStars has created unique features to its platform As the Fractional NFTs markets are being explored, the assets are priced differently depending on their demand and supply as well as the sports figures they are associated with.
The tokenization of real-world assets through nonfungible tokens has created many platforms seeking to explore this new phenomenon. TradeStars is different from these other NFT platforms in that it is building an exchange whereby users can trade their shares of any NFT.
TradeStars will also track and represent real-life performances of any given event, considering that such events have an effect on the value of the shares. Users also have an opportunity to win payouts when they invest in the stock of a particular athlete, which will be influenced by the future performance of the athlete.
The platform’s unique approach was a key selling point to some of the investors with AU21 particularly impressed by the Tradestars ingenious approach to gaming. We are thrilled to partner with TradeStars as they introduce a revolutionary approach to fantasy sports. Sports markets play an integral role in the world economy and have served as a unifying force throughout the covid pandemic. TradeStars tokenizes real-world athletic performance and allows for enthusiasts of any sport to trade their favorite players and teams in a fully decentralized marketplace.
The native digital utility token for the platform, Tradestars Token (TSX), will be an ERC20 standard compliant token on the Ethereum blockchain. It will reward participants for interacting within the platform. It will drive alignment and participation on the Tradestars platform. Holders of TSX will have the opportunity to vote on important issues such as adding new fractional NFT markets, changes in the platform transaction fees, and NFT markets pricing formula.
The total supply of TSX is capped at 100,000,000 and TradeStars plans to distribute 150,000 TSX to users weekly. The high supply inflation rate is meant to kick start the distribution of governance rights to users who earn it. A liquidity mining scheme for TSX distribution will be set up to reward users of the platform.
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