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Live streaming platform SportsCastr has launched its own cryptocurrency called FanChain (FANZ), the company announced on Wednesday.
The token has been launched on FanWide, a digital platform for fan clubs that helps sports fans find the closest game watch party for their favorite team at a local bar. The platform has promoted over 1.5 watch parties and has partnered with multiple professional sports teams and their fan clubs from NFL, NBA, Rugby League, European soccer leagues and more.
Sports fans would now be able to earn FANZ tokens for checking into viewing parties at thousands of sports bars across the U.S. The token could also be redeemed for cash via SportsCastr’s FanWallet.
Kevin April, CEO of SportsCastr, said that the rollout represents “one of the largest real-world deployments of blockchain in fandom” and they are just getting started, so more can be expected in the future.
“Fans are always seeking new ways to show their team pride, and now they can earn rewards for watching their teams and supporting local businesses,” said Symon Perriman, CEO and Founder of FanWide. “This partnership is great for fans, great for venues, and great for the world of crypto.”
SportsCastr and FanWide intend to work with local bars and venues to accept FANZ tokens in exchange for discounts, drinks, and other rewards. In addition, FanWide will be integrating SportsCastr’s live streaming technology to allow fans to go live from viewing parties.
In August 2018, the National Football League Players Association (NFLPA) acquired a minority stake in SportsCastr through OneTeam Collective. Through the said partnership, NFL players could use the live-streaming platform to provide live commentary or share their opinion across a wide range of sports. Fans can also view unfiltered live-video straight from their favorite NFL players, interact with NFL players via chat and show their appreciation via virtual gifts.
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