ASX Sports Pursuing €750,000 through Fundraising Campaign

ASX Sports Pursuing €750,000 through Fundraising Campaign

  • ASX Sports, a provider of fantasy sports powered by blockchain, has unveiled a new crowdfunding effort. The campaign intends to raise an extra €750,000 from small and medium-sized investors who will obtain business equity. 
  • The operator simultaneously introduced its newest live fantasy sports product, which permits peer-to-peer contests during games. 
  • ASX will use the additional funds to take advantage of market openings and deliver new products to the US casino and sports betting market.

 

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Previous Funding Campaigns Found Great Success

Paddy Power, former head of communications for Betfair and founder of the ASX, launched the new campaign in partnership with crowdfunding platform Spark. Power was featured in a video on Spark’s official YouTube channel, highlighting the forthcoming projects of the crypto-based operator.

According to the official information provided by ASX, current investors would be granted an exclusive first option ahead of the general public. The company has already completed numerous successful funding campaigns. 

In 2021, ASX raised €2.2 million, far exceeding its intended goal of €500,000. The company recently stated that it will hold its Series A funding next year, so this may be the final chance for small investors to invest.

The Company Introduced the Most Recent Live Fantasy Games

The second highlight of ASX’s recent announcements was the launch of the first live fantasy sports fan contests in the globe. The company indicated that they intend to transfer the current trend of in-game wagering, which accounts for 80% of all sportsbook action, to fantasy sports. 

Players will be able to build their own contests and teams, as well as engage with other bettors, thanks to the new technology.

Power also attempted to persuade potential investors by highlighting his company’s successes, including the 20,000 installations of the ASX app and agreements with high-profile organizations such as the NBA, NFL, MLB, and EPL. The operator’s pay-to-play games are accessible in 23 states and multiple additional nations.

 Based on ASX’s past performance, this final round of crowdfunding before its Series A should be successful. Despite its late debut into the fantasy sports business, the Irish company boasts strong investor interest and favorable sentiment.

ASX is one of a number of startups seeking to disrupt the gaming industry by leveraging blockchain technology and Web3 developments. 

Additionally, the company became involved with NFTs, working with RugbyPass to create Global Rugby NFTs and incorporating the technology into a number of its products. Recent developments have helped the company retain its momentum, but ASX has yet to make an effect on the sports betting industry.

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.