Crown League to Launch $100M Raising ICO
A blockchain project is looking to raise around $100M as to fund the creation of a new fantasy football league. Going under the name of Crown League, the owner has stated that the company is looking to launch a professional fantasy league which will kick start off with a dozen teams at first and will be wholly owned by fans through the blockchain’s native tokens.
The new professional league will be similar to traditional ones in a few aspects although it stands apart by acting as a united body operated by expert managers and fully owned by the people. CrownThrown’s CEO, Dan Nissanoff, stated that fantasy football as “sport” is currently severely divided. He adds that no individual cares about any other team and this is a result of the fact that fantasy football has almost no coverage.
He goes on to explain that all an individual can truly do is attempt to foresee tradable players and who to start with, although this is addressed to millions of individuals and their own fantasy football teams. What the Crown League is attempting to achieve is a united fantasy league bringing in all the fans by allowing them to own and share that ownership of any team on the platform.
The football teams operating on the platform will be managed and operated by legitimate professional managers and staff. Token possessors will be able to contribute to many decisions made within each of the football teams and will be able to participate in votes regarding the employment or exchanging of football team managers. Nissanoff also stated that the platform will enable participants to join the big leagues and join experts in football fantasy.
He goes on to add that several events will continue making the Crown League exciting and inclusive to all members. The company is planning a pre-sale of its tokens, aiming to collect around $30M USD over the next two to three months. Additionally, once the pre-sale is concluded, a dozen minor initial coin offerings, each looking to raise $5M and representing different fantasy football teams, as well as full access to the public by utilizing a regulatory exemption which will first need approval from the SEC, the US financial watchdog.
Additionally, a test phase for the platform will be conducted on the trial network by the end of this year and is planned for full launch during the summer of 2019.