DALLAS, Sept. 8, 2018 /PRNewswire-PRWeb/ -- RotoHive founder Anthony Adams wants to create the world's best fantasy sports predictions. But he's not creating this data by himself. Instead, Adams is relying on a global network of fantasy sports fans to make predictions on his new RotoHive platform.
And, if your predictions are good, you get rewarded for it.
"We are trying to harness the wisdom of the crowd and apply this knowledge to fantasy sports predictions," said Adams. "Over 50 million people play fantasy sports every year and yet there is virtually no collaboration among these sports fans. Everyone is working on the same problem in isolation. RotoHive will change this."
The goal of RotoHive is to take user predictions and create meta models around this collective data. Adams says these meta models could eventually outperform any single fantasy guru or resource, making the models quite valuable to the multi-billion dollar fantasy sports community.
Launching Sunday, September 9th for NFL Sunday kickoff, RotoHive is free to play, offers weekly prizes for top users and is built on the Ethereum blockchain. Users are awarded two cryptocurrencies, Ethereum and Roto, the platform's ERC-20 token, for performing well in tournaments. Roto acts as a staking mechanism and a way to show confidence in user predictions.
Adams believes RotoHive can attract new users to the Ethereum ecosystem by having a unique, mainstream use case.
"The first generation of decentralized applications was largely comprised of existing ideas with a token added on. Now we are seeing a shift towards native blockchain applications – applications and concepts that literally could not exist before blockchain technology. RotoHive is an example of such a project. It's an exciting time."
Foregoing an ICO, RotoHive is currently giving away Roto tokens to new users as part of a free airdrop. The intent is to get the Roto token in the hands of end users and not speculators with no intent of using the RotoHive platform.