When hundreds of professional esports players compete daily, most people enjoy their favorite players and teams. But what if, thanks to the performance of a player or team of esports, we can earn money and diversify our portfolio.
That is the purpose of Duely, the stock exchange of esports players. That's right, invest in professional athletes.
Today, the platform announces that it has entered into agreements with some of the most recognized players of the scene, they are also in negotiations to include less known players for the public, but that could be the next stars of the esports.
When Martin "Rekkles" Larsson was 16 years old not everyone wanted to invest in it. In fact, many sports fans had not even heard of Rekkles. At the age of 17 he became one of the players with the best statistics in League of Legends. He received from his family $ 3,000 to attend an international event. Four years later, the current player of Fnatic generates profits of more than 1 million dollars annually.
This platform is similar to NASDAQ, users can buy and sell shares of players. These stocks are bought and sold at a specific rate, which varies depending on the current performance of the players and their popularity. For example, if a player with a low popularity and acceptable performance is discovered and receives a few investments, once they increase both characteristics undoubtedly their rate will generate profits for their first investors. This also allows players and teams to be financed by investors and fans.
When buying an action, the agreement is executed under Blockchain technology, so each player generates tokens that represent their action. With Blockchain technology users do not need a physical contract, the purchase or sale of an action is carried out by means of a "smart contract" in which a token representing that agreement is assigned between the investor and the player or team. As an investor, you receive a follow-up action on the percentage of future earnings that Duely has already purchased from the player. Technically it is being invested in the player. The stock price reflects performance. So the better a player plays in their performance and popularity, the more the investor's stock increases, and vice versa.
Duely is also looking for deals with young promises and even other organizations dedicated to esports. His latest deal is with Game Coach, a South Korean company that trains and educates League of Legends players. Both companies hope to achieve the goals of players who enroll in that school. They also conduct intensive training campaigns to professional teams, their last client was the well known team of the EU LCS, Unicorns of Love.
Currently Duely is in the Beta phase, according to statements of the company itself, will start trading with real money in early October.
