MyDFS[1], a blockchain-based daily fantasy sports platform, has raised US$1 million from LD Capital and added former Facebook and Skype executive Akin Babayigit into its advisory board, the startup announced on Thursday. Babayigit will help MyDFS with the upcoming global launch of its app.
MyDFS said the new funding will be used to improve the existing blockchain platform and expand MyDFS services abroad. It comes just a month after the startup raised[2] US$2 million from investor Frank Fu, managing director at Chinese tech company Meitu, the Chinese photo-sharing platform with more than 450 million users. Fu joined MyDFS as a board advisor.
MyDFS is preparing for the soft launch of its blockchain-based mobile app with a rollout in Australia and India scheduled for later this week. The startup said it will be collecting data and identifying bugs in order to optimize the platform prior to the global launch set to take place in early June 2018, right before the FIFA World Cup, the largest soccer championship of the year. MyDFS said it will be looking for feedbacks from players.
Headquartered in the Isle of Man, MyDFS intends to use blockchain technology to simplify the daily fantasy sports experience. The company’s upcoming mobile app promises to provide fantasy sports players with all of the traditional DFS features, with the added security and transparency that blockchain offers. Players will be able to use MyDFS tokens as in-game currency to enter the games, draft their own lineups, and play against other users on the platform. The platform will also include player brokerage features, which will allow newbies to hire pro-players to win fantasy leagues on their behalf.
Viktor Mangazeev, CEO of MyDFS, said the platform is a combined solution that makes fantasy sports games casual and easy-to-play.
“Our
