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Taking NFTs to the next step with TradeStars

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TradeStars has launched a Fantasy Sports Stock Trading platform that leverages some of the finest innovations from the world of blockchain technology to provide an unparalleled gaming experience.

TradeStars allows users to trade Fantasy Sports Stocks whose prices are directly influenced by the real-life performance stats of the athletes they represent.

A NASDAQ built on blockchain, TradeStars allows investors to invest in the Stocks of their favorite players. The Stocks are issued as tokens on the blockchain, which allows TradeStars to provide a host of features that are absent in other Sports gaming platforms.

Users who can use their Sports knowledge to identify early those players who go on to make a name for themselves in the Sports world can expect handsome returns on their investment.

“Olympic Torch”, the Mainnet of TradeStars, was launched on 31st August. Fantasy Stocks of some of the hottest Cricketers from all around the globe can be currently traded on TradeStars.

Blockchain Meets Sports Gaming

TradeStars has been built on Ethereum, which is arguably the first choice for DApp developers all over the globe.

Fantasy Stocks can be traded using TSX, which is the in-game currency. TSX is also the governance token of the ecosystem and entitles holders to various utilities and rights, such as earning a portion of the platform’s trading fees as dividends, participating in various platform governance decisions through decentralized voting, and getting early access to special Sports themed NFTs.

All trades on the TradeStars platform are recorded permanently on the blockchain and are visible to everyone. This provides unparalleled security and transparency, completely eliminating the scope of any type of forgery or fraud.

Moreover, TradeStars integrates Polygon’s Layer 2 scaling solution, which helps in massively scaling transactions on TradeStars’ trading platform.

Polygon settles all transactions of the main Ethereum chain without compromising on the security of the underlying blockchain (main chain). The integration ensures that trades on TradeStars are confirmed almost instantly and free of cost, even if gas prices on the Ethereum blockchain are skyrocketing.

Fantasy Stocks as NFTs

The use of blockchain technology also makes it possible to issue the Fantasy Stocks as NFTs (or Non-Fungible Tokens) on the blockchain.

NFTs are being widely used to represent various collector and art items in digital format on the blockchain. Since each piece of art is unique, each NFT is also irreplicable and non-duplicable. In fact, NFTs can be used to represent just about anything, from a tweet to a meme.

In recent times, NFTs have managed to capture the attention of both artists and investors, racking up a media frenzy.

Artists such as Beeple and Grimes have sold NFTs of their digital artworks for millions. Corporations too have jumped onto the NFT bandwagon – Visa purchased a ‘CryptoPunk’ for nearly $0.15 million in Ethereum.

By virtue of their uniqueness, NFTs are a natural fit when it comes to representing the Fantasy Stocks of individual players.

Fractional NFTs, the Game Changer

Fractional NFTs (or F-NFTs) is the next step in the evolution of tokenization. As the name suggests, an NFT is further tokenized into smaller units, with each unit granting its owner partial ownership of the digital asset.

Since ownership is now divided among multiple people, the resulting liquidity is much higher. Instead of purchasing the whole asset, investors can spend any amount of funds and own a portion of the NFT.

With the hype around NFTs soaring, their prices are getting higher with each passing day, making them too costly for the average retail investor to buy. Moreover, selling an NFT in secondary markets also becomes quite difficult, since the owner has to find a buyer who is willing to match the asking price.

Through fractionalization, trading NFTs (in parts) becomes feasible. The services or features, if any, offered by the NFT are also shared between all the owners in a proportionate manner.

NFT Markets through Fractional NFTs

TradeStars is one of the first applications in the blockchain sector which has adopted F-NFTs to offer more utility to users.

The Fantasy Stocks on TradeStars are implemented through Fractional NFTs. For each athlete who is listed on the platform, TradeStars creates an “NFT Market” with a fixed amount of Fantasy Stocks.

Since the NFT Markets comprise of F-NFTs, users have complete flexibility to purchase any amount of stocks they want, including fractions.

On other popular NFT based gaming platforms like Axie Infinity, users have to purchase NFT assets (Axies, in this case) worth hundreds of dollars before they can start playing. The high initial investment puts such games beyond the grasp of a significant portion of the gaming population, especially the school and college-going crowd.

TradeStars does away with this high financial barrier of entry. Anyone with access to an Internet connection can start trading and build a portfolio of Fantasy Sports Stocks.

Liquidity on the TradeStars platform is also enhanced significantly through the use of F-NFTs. Users can trade stocks anytime they want, and from any corner of the world.

Parting Thoughts

TradeStars is taking NFTs to the next step, utilizing them in a manner that increases both the affordability and the liquidity of their Fantasy Stock offerings. Combined with the seamless trading experience that the Polygon integration offers, TradeStars is definitely one of the hottest play-to-earn games that have hit the market this year.

With the Cricket season in full swing, TradeStars has seen a steady inflow of users since their Mainnet launch. As TradeStars goes on adding more athletes and more Sports domains on its roster, it’s safe to assume that the Fantasy Sports Stock trading game will continue to attract and enthrall sports fans.

Go to https://tradestars.app/ to purchase your first Fantasy Stocks.

 Disclaimer: This is a paid post and should not be treated as news/advice.

With Masters in Mass communication and journalism, Anjali's interests lie in blockchain technology adoption across emerging economies.

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