Connect with us

Blockchain

Bayern Munich joins the blockchain-based fantasy soccer trend

Published

on



German soccer club FC Bayern Munich, which plays in the country’s Bundesliga, is entering the world of blockchain-based fantasy soccer.

The Ethereum blockchain-based fantasy soccer game Sorare, which Bayern joined this week, already counts over 100 participant clubs, including high-profile names such as Paris Saint-German, Juventus, PSG, and Atletico Madrid.

FC Bayern Munich is itself no stranger to collaborations with blockchain projects, having partnered last fall with Stryking Entertainment to produce digital collectibles of its players. These cards are both collectible and playable as part of a fantasy-league style challenge. 

In announcing its Sorare deal to fans, FC Bayern Munich noted that the top 20 leagues in the world are now available on the gaming platform, which has become truly global. 

Sorare works as a five-a-side soccer game. New players pick an initial squad of 10 blockchain-based player cards from which they create their tournament team. 

As reported, Sorare also offers players the chance to buy and trade limited edition cards, whose higher score and value is determined by players’ real-life performance in soccer league tables and their rarity as digital collectibles.

According to Nonfungible, a ranking site for blockchain games and issuers of collectible, non-fungible tokens, Sorare is inching up the league tables and has been gaining popularity with the global gaming community. 

As of press time, the platform is ranked third, with a weekly trading volume of roughly $243,000. However, in terms of all-time-sales, Sorare significantly trails behind Axie Infinity, which reports roughly triple the sales of the fantasy soccer market.

In a recent interview with Cointelegraph, Sorare outlined its strategy for expansion to the United States market, where close to 60 million gamers play fantasy sports. The platform has recently officially launched there.

Sorare has recently launched in the United States, where the platform hopes to attract some of the 60 million American fantasy sports players.



Source link

Blockchain

A review of SushiSwap roll-outs

Published

on

By


Launched in August 2020 as a fork of the Uniswap decentralized exchange, SushiSwap briefly surpassed its competitor. Now ranking third behind Uniswap’s v3 and v2, the DEX rolls out numerous integrations with major networks beyond its native Ethereum blockchain to offer users a single entry point and lower fees. 

The SushiSwap protocol is one of the largest proponents of a multi-chain future in decentralized finance as the DEX is already live on Ethereum, Binance Smart Chain, Polygon, Avalanche and Fantom. Data by Covalent provides insight on SushiSwap across these five chains.

Data reveals the most popular chain by the number of swaps executed daily is Polygon, as the protocol usage skyrocketed in May. Polygon continues to set new records as it hosted 120,000 swaps on SushiSwap recently.

Left far behind, Ethereum ranked second as of June 2021 by daily swap count. Fantom and Avalanche tend to follow the same trend as Ethereum, although the gaps among the three have been widening since the active trading days in late May. Avalanche and Fantom even outstripped Ethereum by the number of transactions on May 19, when a market-wide liquidation frenzy occurred.

A closer look at daily swap volume shows a different story. The dominance of Ethereum in SushiSwap had been unshakable for a long time, with the peak of trading volume at almost $3 billion on May 21. However, Polygon overtook Ethereum by swap volume in June with a $420-million mark, which highlighted the rapid take-off of the layer-two scalability solutions. 

The reduction of transaction costs is the major driver behind the adoption of a multi-chain approach. SushiSwap has achieved this by offering options outside of Ethereum. Data on gas usage on Ethereum and other chains could not even be compared in one chart due to a dramatic difference in numbers.