NBA playoffs, fantasy sports, and the cryptoverse are now being wed thanks to the new Crypto Cup — a collaboration between FanDuel and the payments cryptocurrency project Dash. The event, “presented by Dash,” will see the top winners receive varying Dash payouts.
Crypto Cup Follows Bitcoin Bowl
After their holiday “Bitcoin Bowl” and recent sponsorship of MMA welterweight fighter Rory MacDonald, the team behind Dash continues emphasizing breaking into the mainstream with their new “Crypto Cup” competition alongside popular fantasy sports platform FanDuel.
The cup, which will begin on February 22nd, will have two divisions: one where players can play free of charge, and another where a $3 USD entry fee will be necessary to play.
The tournament will expose many of FanDuel’s 6 million players to Dash and cryptocurrencies in general for the first time. Players’ rosters will need to be finalized before the NBA playoffs tip-off. Prizes are set up as follows:
1st place: 15 Dash
2nd: 10 Dash
3rd: 5 Dash
4th: 4 Dash
5th: 3 Dash
6th: 2 Dash
7th: 1 Dash
1st place: 2 Dash
2nd: 1.5 Dash
3rd: 1 Dash
4th: 0.5 Dash
FanDuel CFO: “Our Goal Is to Innovate”
To participants in the fantasy sports arena, it’s no secret that FanDuel and DraftKings are direct competitors. Notably, then, FanDuel is now seemingly turning to cryptocurrencies to get a leg up on its rival.
Andy Giancamilli, FanDuel CFO, called the strategy part of a broader innovation plan:
“Our first cryptocurrency contest was a new experience and well-received by our users, so we wanted to continue to offer this unique prizing option. We are at the forefront of the sports industry, so whether it’s Bingo or cryptocurrency as a prize, our goal is to innovate our contests and prizes to give more people more ways to play and win on FanDuel.”
What’s your take? Do you think fantasy sports and cryptocurrencies are a good or bad mix? Sound off in the comments below.
Images via Dash Force News, FanDuel, LA Times