It seems to be only a matter of time until cryptocurrency, blockchain, and fantasy sports come together in a meaningful way. NoLimitCoin positions itself as the world’s first cryptocurrency for fantasy sports. It has quite a few interesting features to take note of, although its success is not guaranteed whatsoever.
What is NoLimitCoin Providing?
Even though fantasy sports have become popular, Bitcoin and other cryptocurrencies have not made a big impact just yet. NoLimitCoin wants to change that, mainly with its technical features which seemingly make it more suitable for this industry than any other currency on the market. Venturing into this particular business will not be easy, but it certainly is something worth exploring.
To make a meaningful impact on this industry, NoLimitCoin will need to stand out. The NL2 currency boasts instant transfers, which is something no other cryptocurrency can offer reliably as of right now. Its transaction fees are also rather low, and most transfers can be completed at a cost of 0.0001 NLC2 or lower, which is a lot cheaper than Bitcoin, Ethereum, or Litecoin.
Unlike most other cryptocurrencies, NoLimitCoin embraces the proof-of-stake algorithm. Users will earn 4% interest per annum for staking their coins in a compatible wallet. On the fantasy sports side of things, NoLimitCoin has its own worldwide fantasy sports platform, which exclusively uses NLC2 to power transactions. This platform encompasses all of the popular sports, including football, soccer, hockey, basketball, and MMA.
Last but not least, NLC2 boasts some of the lowest rake fees of any fantasy sports platform. Compared to most of its competitors, NoLimitCoin’s rake fees are 75% lower, if not more. That in itself is pretty significant, yet it shows we may see similar ventures in the future. Fantasy sports is a booming industry, and it is only a matter of time until cryptocurrencies start to make their mark on this industry. Whether they will be new coins like NoLimitCoin or established currencies has yet to be determined.
The Road Ahead
Some big developments have already taken place for NoLimitCoin. The project successfully launched its soccer, NFL, and hockey services late last year. This quarter, basketball integration will be finalized, and MMA is coming very soon as well. More sports are on the horizon later this year, including cricket and baseball. If things go according to plan, we will see a native NLC2 debit card by the end of 2018.