FX1 Sports
Crypto Overview
Purpose and Utility
FX1 Sports (FX1) is a cryptocurrency token designed to serve as the utility token for the Fantasy X1 gaming platform, which aims to combine fantasy sports with blockchain technology. The token is intended to be used for in-game transactions, rewards, and governance within the Fantasy X1 ecosystem.
Business Model Analysis
The project aims to create a decentralized fantasy sports platform where users can create and manage virtual sports teams, participate in competitions, and earn rewards. The business model appears to focus on legitimate gaming activities rather than gambling, as users compete based on skill and knowledge rather than pure chance.
Real-World Adoption
Current adoption appears to be in early stages, with limited real-world usage. The project has announced partnerships with several sports-related entities, though specific details about active user base and transaction volumes are not readily available.
Platform Development
The project shows ongoing development activity with regular updates to their platform and ecosystem. The team maintains an active GitHub repository and provides regular development updates through their official channels.
Token Distribution
Analysis of token distribution shows a structured allocation with vesting periods for team members and early investors. Approximately 30% of tokens are allocated for platform development and ecosystem growth, with the remaining distributed among public sale, team, advisors, and treasury.
Crypto Impact
To assign a comfort level investing in FX1 Sports from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to FX1 Sports.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.