Abstract
LeaguePack is a marketplace to invest in digital trading cards that provide access to a visible fund that is distributed to card owners at the end of the season to the final four teams and champions of the league. The following details the origins of the concept, theory around game interaction, and the creators’ idea around strategy evolution.
Introduction
As we enter a post-pandemic era of society, we enter into an age of technological integration where humans become more reliant on the machines that operate our daily tasks. Based on the success of hybrid workspaces, humans and corporations alike are increasingly accepting of the ideas of engaging and collaborating in a virtual setting. The connection of humans through technology is not a new idea, however this has evolved to where it is today due to the robust hardware such as laptop computers and the cell phone and software powered by developers and the emergence of artificial intelligence.
We find ourselves at the intersection of computer and human integration. How we as humans evolve is based more on the technology than we may be comfortable with or aware of. Social media that enables robotic accounts from unknown sources forces human emotion where computers do not have the burden, computers develop a deep-learning understanding of how humans engage and deploy actions based on those decisions, and are developing more data points every second. With that said, so are humans, just not as quickly or frequently.
Humans are the ones who developed the algorithms that engage these technologies to solve the problems of our society. One emerging technology we have seen at increasing levels since the pandemic is the blockchain. With the introduction of Bitcoin in 2009, the world has been exposed to a decentralized currency. The operations of the decentralized currency is based on the public ledger which allows the community to validate the legitimacy of a transaction. In essence, the community confirms if the source code is accurate, then the transaction can take place, whereas a centralized entity controls all transactions and regulate them internally based on centalized standards. Through my college experience, people involved in athletics wanted to be invested in the games they watched - a centralized bookie providing updated lines for each game and the market would place wagers on their winners.
This concept consumed me, eventually becoming the foundation of LeaguePack.
How can we evolve how a user invests in their viewing experience?
The idea that sports were not deemed non-essensial was a concept that slapped hard across the face. I looked for ways to compete with myself. I found there was a way to look within to compete with the things I do with myself: create. Before March 13, 2020, I was told to chase my passion and draw. After March 13th, 2020, I decided to begin creating and evolving my inner artist. After countless projects, drawings, renderings, briliant and comical, and everything in between, we conceptualized what we know today as LeaguePack. Two years from that day, two roommates - a software engineer and marketer by day, smart contract developer and artist by dusk - began theorizing how we can revolutionize the sports fan experience in conjunction with blockchain technology. Today, we introduce LeaguePack - a project where art, technology, and sport fuse to invoke an exclusive and collabortive user journey.
Lit Review. topics
Sports Gambling History
DraftKings Daily Fantasy
Legislation around sports gambling
NFT marketplaces
crypto development
Theoretical model - LeaguePack
LeaguePack offers an exclusive and unique collection of digital trading cards for the top teams in certain leagues, a fair market value calculator (The Card Board) to determine accurate pricing, and a smart contract inclusive of LeaguePack exclusive token (LPK) that houses company the card artwork within the collection. With each new sport season, cards for each top ten team will be added to the collection and released the evening before the first game of the sport’s season.
Every card released with the corresponding LPK token have a supply of 25 offered at fair market value based on the ERC-1155. Fair market value can be calculated on The Card Board found on the LeaguePack site (leaguepack.com) with the variables fund amount and card rank. With the values provided by the user, The Card Board displays a bid and ask price to show what the card holder should be willing to sell their card for at minimum and for potential card buyers to understand how much to bid for card based on the variables provided.
LeaguePack’s initiative is to engage the sports fan during the full season and beyond. Every card is eligable for two seasons. By offering a limited supply of cards and timeframe for eligability, there will be a scarcity as well as strategy opportunity in the market. Since the fair market value is based on fund size and team rank, the owners have the opportunity to develop strategies of their own to leverage higher card value. The fund for each sport pack grows with every transaction in the collection. For example, if a user were to purchase a number 4 ranked card at the FMV of $XX when the pot is at 2 ETH, they can decide whether they would like to hold the card with goal of making it into semifinals or winning the league with higher payout than if user decided to sell on the market for their ask price based on The Card Board. In the event of a sale of an active card on the marketplace, 6% of the sale price would be added to the fund for the current season and 3% to the upcoming season fund if they remain active.
During LeaguePack’s first season, collections can be purchased on two reliable NFT marketplaces: OpenSea and Rarible. LeaguePack’s roadmap goals set out to have an independent marketplace by April 2023 after the collegiate basketball season has concluded. Additional LeaguePack collections may be introduced between those dates. LeaguePack has yet to determine the first collection that will be introduced on the independent marketplace. All cards purchased on either OpenSea and Rarible will remain active on the LeaguePack Marketplace since the token LPK will remain associated with all assets.
LeaguePack intends to evolve their offerings based on community interest. Our plans include moving all assets to an independent marketplace, as discussed in the above paragraph. In addition to the introduction of the LeaguePack Marketplace, we will be opening a store to offer members access to buy LeaguePack merchandise and products. After introducing the store to members-only, LeaguePack will have offerings for any fan of the brand.
Results/Conclusion
We have ideas of where this company will go, however the most exciting part of this project is - now that we have created the game - the evolution of strategy is out of our hands. The more the community engages in the marketplace, the more exciting the collection becomes. Our job is the adjust in tandum with community needs and protect our concept in perpetuity.