NFTdraft.io is a modernization of fantasy sports. It combines fantasy sports and the technology of NFT’s. There are new game mechanics which we believe improve every aspect of how you’ve played fantasy football in the past. These changes might feel unfamiliar at first, but once you read about them, we feel confident that you’ll understand the changes and the exciting opportunities that NFTdraft.io is bringing to the fantasy football world.
Over the next few weeks, we will be releasing articles that will explain every aspect of this project so that you understand the opportunities and advantages that we are offering. This article specifically covers how we will run tournaments.
Tournament play is how we plan to entice traditional fantasy football users to migrate over to the NFT world. Most importantly in the mission to convert current fantasy users is that our tournaments will be free to join and will have big cash prizes. There are two options to join a tournament; you can join for free or choose to sponsor a tournament. Below is an overview of these two options along with some of their benefits.
THE TOURNAMENT LOBBY:
In looking at the cards that they own (or on the marketplace to buy or rent cards), a player has done some research and determined the best players to start for that week. Now, it’s time to enter a tournament (tournament entries will open on Wednesdays).
Let’s imagine the tournament lobby. There will be potentially dozens of tournaments. NFTdraft.io will host four every week and players will also have the opportunity to sponsor their own tournament. Each tournament name will be on the left. Information about the tournaments will be displayed as follows: sponsor fee, host, money added by host and/or sponsor, prize pool amount, number of sponsored entries, number of free entries, remaining entries, cost to sponsor, time remaining to register.
NFTdraft.io will host four tournaments per week. The guaranteed prize pool for our week 1 tournaments will be at least $15,000. We expect this number to increase as we sell more packs and as players pay to sponsor a tournament. Here is information of what you might see in the in the tournament lobby for each tournament.
Tournament 1: $20 NFTdraft.io Event, $8,000 TY Community, $11,260, 113/1869/98,018, $20 sponsor 00:06:24:13 $1,000 TY “Sponsor name”
Tournament 2: $10 NFTdraft.io Event, $4,000 TY Community, $11,120, 612/1284/98,104, $10 sponsor, 00:06:24:13 $1,000 TY “Sponsor name”
Tournament 3: $5 NFTdraft.io Event, $2000 TY Community, $5100, 520/970/98,510, $5 sponsor. 00:06:24:13 $500 TY “Sponsor Name”
Tournament 4: $2 NFTdraft.io Event, $1,000 TY Community, $500 TY “Sponsor Name”
Tournament 5: $1 “WAX Project” Event, $500 TY “WAX Project”, etc.
So there is a lot of information to unpack here. For Tournament 1, here’s what these numbers would mean:
Sponsor fee: $20
Money added by host and/or sponsor: $8,000
Prize pool amount: $11,260
Number of sponsored entries: 113
Number of free entries: 1,869
Remaining entries: 98,018
Cost to sponsor: $20
Time remaining to register: 00:06:24:13
Additional sponsor money: $1,000
Let’s break this down as there are some unfamiliar and new mechanics here. All of the tournaments that NFTdraft.io runs in our first year will have the option to join for free. We plan to sell advertisements in the form of sponsorships to projects and users. We imagine that all sorts of WAX, Crypto, or Sports (or more!) projects will be interested in advertising during our tournaments. Project sponsors will receive banner rights throughout the tournament for that week, along with a message about their project which will be displayed to anyone who joins the tournament. Project sponsors can also include links for people to visit their project.
To sponsor a tournament these projects will pay a small fee to NFTdraft.io. The rest of the money will be added to the prize pool, which benefits the community. You can see that displayed as “$1,000 TY Sponsor name above.” If you know any projects interested in securing our first sponsorship, have them reach out to @NFTdrafter or @Foster#0320 on Discord. Or they can email outreach@NFTdraft.io
Additionally, projects or companies may host their own tournaments. The Tournament 5 example represents this. In this example a project has sponsored a tournament, added $500 to a tournament and in return users will be exposed to some information about the project. Every tournament sponsored by a project will be free for users to enter and also have an option for a player to join via a sponsor fee (see below). Every free to enter tournament may be entered an unlimited amount of times, so long as a user has the cards to field teams and they fit submission guidelines. We’ll explore team submission guidelines in a later article.
We will also allow users to host a limited number of tournaments each week. User hosted tournaments may set the sponsor fee amount and choose whether or not to allow free entries.
Sponsor fee is a new term applicable to NFTdraft.io. NFTdraft.io’s business model is to sell NFT cards and advertisements to projects and people. Fantasy football is the conduit for these mechanisms, not a part of our revenue model. In that vein, a person does not pay a tournament “buy-in” where they receive nothing but a right to play. At NFTdraft.io everyone can play for free, but players can also choose to pay a sponsor fee.
NFTdraft.io sells collectible NFTs. Our NFTs are the exciting part of the game. If you have a GOAT, or a favorite team of commons, it is rewarding to show them off to the community. Collectors want people to admire their collections. To have your collection associated with you, you can pay a sponsor fee. In the Tournament 1 example above, a player would pay a $20 sponsor fee, for the right to advertise themselves and enter additional collections.
When a user enters a tournament on NFTdraft.io for free, they are assigned a generic entry name: (for example: Player #27692679). Since this entry is anonymous, the owner does not receive recognition for their NFT collection, their progress (leaderboards), or have their account name displayed. While all free entries are anonymous, they will be eligible for prize payouts.
When a user chooses to pay a sponsor fee, their displayed NFTs will be shown along with their account name. Additionally, users who choose to pay a sponsor fee may add a link to their NFTdraft.io collection or any service they wish to promote in this method.
Another benefit of paying the sponsor fee is that it increases the prize pool. 90% of the sponsor fee will be added to the prize pool while 10% will cover our processing fee. There is a minimum .50 cent processing fee.
Now that you know more about tournaments, talk with your friends and invite them to join you in this project! We’re going to give away a lot of money. Come get your share!
Come see what we’re talking about and discussing in the NFTdraft.io Discord server. Click here to join our fast growing community!
***All rules are subject to change.