Fantasy sports have witnessed an astounding rise in India, attracting millions of players to various platforms. However, persistent issues such as data privacy, insider trading, and a lack of transparency prompted the development of web3-DREAM11. This project utilizes blockchain technology, oracles, and NFTs to elevate the security, transparency, and fairness of fantasy sports experiences.
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Data Security and Transparency:
- Implements oracles to securely transmit data to smart contracts, safeguarding against data manipulation.
- Ensures secure data storage on the blockchain, fostering transparency and user trust.
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Equal Opportunity:
- Allocates an equal amount of tokens to each team upon registration, eradicating unfair advantages.
- Introduces skill-based player selection through auctions, exempt from gambling laws, fostering healthy competition.
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Chainlink Automation:
- Employs Chainlink automation for automated auctions, ensuring transparency and fairness.
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Live Auctions and Game Determination:
- Conducts live auctions where teams bid for players, with the highest bidder securing the player.
- Determines game winners based on cumulative player rankings from an external API using oracles.
Primarily designed for college students and working professionals passionate about sports, web3-DREAM11's transparency appeals to casual gamers, fostering trust and expanding its reach.