Prospect Labs Launches NFT Fantasy Sports App Ahead of NBA Season

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October 19, 2022
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Prospect Labs today announced the launch of Prospect Sports, a mobile-first decentralized fantasy sports app that allows users to own Athlete NFTs that receive rewards depending on real-life in-game performance. The software is currently available on the Apple App Store, with plans to release more features including player portfolio management and staking before the start of the NBA season, as well as an Android version in November.

Founded in 2020, Prospect Labs was created with the goal of giving sports fans access to an athlete’s actual performance and, eventually, their chances of success.

Prospect Sports Athlete NFTs, which will incorporate player portfolio management and staking, will be distributed on the Polygon blockchain. In the future, the team intends to offer play-to-earn competitions, head-to-head experiences, and social activities.

Johnny Chen, Co-Founder of Prospect Labs, said:

“If a sports fan wants to invest in an athlete today, they can purchase things like signed sports memorabilia, trading cards or collectible NFTs such as NBA Top Shot. The value of these items are based on their desirability and what someone else is willing to pay. At Prospect, we believe that Fundamental Performance should drive Fundamental Value. Through our proprietary ‘Proof-of-Performance’ algorithm, we want to give Athlete NFTs a third dimension of value through gamified staking rewards that will be earned throughout the arc of their career.”

 

The post Prospect Labs Launches NFT Fantasy Sports App Ahead of NBA Season appeared first on iGaming.org.

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Author: Peter Siu

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