The expectations for Fan Controlled Footbal League are heating up – and the ICO is coming soon. This project, initially proposed on IndieGoGo, links the world of traditional crowd funding to the new option of token sales.
Meanwhile, Kickstarter has refused to allow ICO funding, although it hosts its own fantasy football project, Mutant Football League, as a coincidence.
The FCFL token sale is an event awaited for a long time. The project has already raised significant funds through the platform, and the token sale has not yet started. The initial funds of around $6.1 million would cover the early days of a startup, when measured by the standards of venture capital. The IndieGoGo funding for the game ended on March 11, and nine days later, the ICO opens.
The small time period for the token sale means that the project is rather confident of its success. In 2018, more obscure ICOs go on sale for months and still fail to achieve their targets.
What is Fan Controlled Football League?
- Fan Controlled Football League
- Fan Controlled Football League White Paper
- Country of origin: USA/Worldwide
- Ticker: FAN
- ICO Dates: 20-29 March
- Hard Cap: Unknown
- Funds raised: $6,106,985
- Industry: Gaming/Blockchain Voting
- Funds accepted: Ethereum
- My Rating: 4/5
Fan Controlled Football League Social Media
Fan Controlled Football League Overview
This startup aims to build a professional-level fan-controlled fantasy football game. The startup believes it is possible to use the decentralized nature of the blockchain to achieve this goal of putting fans in the driver's seat when it comes to building teams and selecting players.
The project started a couple of years ago when the developers bought a team in the Indoor Football League market. Later, an app was developed to allow a community to vote on the team's parameters: location, team name, logo. Thus, the initial idea for a democratically controlled game was implemented. Now, FCFL wants to create a whole game ecosystem based on the same idea.
The FCFL game would most probably launch in 2018, with eight teams and an already clear idea of building a visually appealing game in an indoor studio, using graphics and point of view innovations. Because of this, the FCFL token sale is a unique chance to support a team with an imminent product launch, unlike other ICOs that sometimes fail to produce a beta version of the product.
The Fan Controlled Football League Team
The founders of the company are experienced business executives. This startup is quite different compared to pure blockchain projects, founded by Sohrob Farudi. The project also has an impressive array of advisors, tapping the knowledge of one of the co-founders of Ethereum, Steven Nerayoff, as well as the co-founder of Bancor Galia Benartzi. With an international team at the ready to complete the design and technical side, this well-funded project seems set to offer an appealing product soon.
About Fan Controlled Football League Token
The FAN tokens will only launch live after the end of the token sale. They will have an integral part in the gaming ecosystem. The chief purpose of FAN tokens is to unlock voting. The app will have an onboard crypto token wallet, which would hold the FAN balances.
For the purposes of the ICO, the FAN digital asset would be held in a compatible ERC-20 wallet. After the creation of the app, the proprietary FCFL wallet would be able to carry the token, and participate in the Ethereum blockchain to secure votes in an unalterable record. Additionally, owning FAN tokens would give more power to votes, in a manner similar to the Steemit voting mechanism.
The FAN token would also be instrumental in the reward and incentives system of the game, sending new FAN tokens for activity. Social media activity about the supported team would also be rewarded. Right now, FAN tokens can be received through the referral program.
Token owners would also compete for the $1 million championship prize pool. The total supply is 1 billion tokens.
Investing in Fan Controlled Football League: The Pros
This project has a worldwide community and Telegram groups active in several languages, reaching out to Chinese, Russian, Spanish-speaking fans.
The project seems to be on track to actually deliver an appealing gaming product – putting it way ahead of other gaming ICOs. Additionally, owning FAN tokens may give access to the early-bird rewards by playing the influence and voting game.
The token sale, set to be rather short, is also promising in its capability to raise adequate funding. The team is also set to make the rounds on some of the most well-visited crypto conferences around the world, thus further popularizing both the game and the digital asset.
The Risk of Fan Controlled Football League
The international nature of this ICO raises some questions on participation and legality. In the case of US residents, only accredited investors may participate. This leaves the funding to the international community. For now, the ICO may have raised adequate funds through a round of public and private pre-sale.
But in the future, the large crowd sale distribution would show the ultimate success or failure of the ICO.
Additionally, running distributed apps on the Ethereum network has its own risks. An overly popular game may die by its own success, as it may lead to overloading the Ethereum network, as it happened in the case of CryptoKitties. It would be a great success for the project to seamlessly integrate communication with the Ethereum network.
Final Thoughts on Fan Controlled Football League
Covered by mainstream media, this intriguing ICO is much less about the hype about the token price, and more about the fun of the game. Still, some may try to flip the ICO and the price may see volatility. However, having a solid system of reputation, rewards and a wide fan base may see this project succeed. The addition of a quality game may increase the influence of FCFL way beyond generic blockchain-based social media, as it taps on a dedicated niche of fans.
The formation of nation-based fan teams already speaks of the potential for this startup to create a thriving marketplace and actually achieve the addition of value through the voting and reputation reward system. Of course, there is always the chance of fans using organized voting, or other tricks to get ahead of the game, but all of that would mean increased demand for the FAN token, and potentially better market prices and higher liquidity.
Therefore, My Rating for this project is 4/5, for the potential of successful completion and the general safety of the ICO procedure. It is unknown if the token would be suitable for quick trading, as the team may be very wary about exchanges and new listings. This is probably the only problem with top-quality projects – that they are reluctant to have their native asset exposed to the merciless world of speculative crypto trading.
Should YOU Invest?
Honestly, most people looking to invest in altcoins, tokens, and ICOs are hoping they discover the next Bitcoin or Ethereum. The chances of that are rare.
So where is your money best invested? My recommendation might surprise you. It's free to join, and won't require that you invest in risky cryptos!