Does cryptocurrency have a place in fantasy sports? It just might.
When it comes to fantasy football, we're obligated to take a hard look at everything that may (or may not) impact the game.
By now, you've heard of bitcoin, cryptocurrency and all of the other coins that are being used out there.
The news and radio have been talking about people have made millions by investing early on (we owned exactly 0 bitcoins for the record), and they love talking about how high the price will go.
At the time of writing (1/2/18 at 1707 hours EST), Bitcoin sits at $14,871.01....which means absolutely nothing if you don't own any bitcoin. If you do, I hope you're worth a ton of money.
Either way, it's something that isn't going away anytime soon (or so this author believes).
But I digress.
Let's talk about how bitcoin may impact fantasy football, daily fantasy sports (DFS) and other fantasy sports everywhere.
Bitcoin and Fantasy Football
There are already some new platforms and sites that have launched to target the bitcoin and cryptocurrency times.
No Limit Fantasy Sports
I recently spoke with the team over at No Limit Fantasy Sports who gave me a behind the scenes look at their fantasy site, which operates with their own cryptocurrency called NoLimitCoin or NLC2.
According to their site "NoLimitCoin has super-fast and near instant transaction times and Ultra Low Transaction Fees. NLC2 is a Proof of Stake coin which pays out 4% per year in extra coins for staking and holding the coins in a local wallet if you decide to withdraw your winnings from Fantasy Contests. NLC2 allows us to have the lowest rake fees of any fantasy sports platform, we have cut rake fees by 50% over our competitors.".
They appear to be the only crypto / bitcoin fantasy football platform at the moment. So if this tickles your fancy, check them out!
No Limit Coin
While I don't know if No Limit Coin will become the go-to cryptocurrency for fantasy football, they call it "the world's first cryptocurrency powering fantasy sports".
This is the coin used above by No Limit Fantasy Sports. They're all wrapped under the same roof, but it's worth noting that the coin does have its own operational site.
It's the "registered cryptocurrency of footballcoin" according to their site!
While I've never played on footballcoin before, it appears to be a soccer fantasy site that is using crypto. While it's not fantasy football / NFL related, it's nice to see someone else dabbling in the crypto space.
I'll let you take a deeper dive if you're into soccer and crypto.
Bitcoin Wagers in Fantasy Football
While we would never advise you to gamble (only legally where you can by law), we've seen a ton of new posts about playing for Bitcoin, Litecoin, etc. over the past month or so.
We've seen quite a few Reddit threads about creating leagues based on bitcoin and other coins that people expect to grow between now and championship time in December 2018. We'll throw caution out there on joining random leagues and sending in bitcoin or any other coins unless you know it's secure as there are a TON of people out there who are getting taken advantage of with the rise of bitcoin.
Where Does Bitcoin Stand in Fantasy Sports?
That's the million dollar question.
We think that 2018 will show bigger players in the fantasy space allow bitcoins to come into play. Now that the idea of them has gone mainstream, everyone wants a piece of the pie.
For the time being, learn about bitcoin if it interests you...even if it's just a little bit. Don't just buy it without knowing anything, because the volatility will drive you INSANE.
Bitcoin is coming to fantasy football.
Do you use cryptocurrency on other fantasy platforms? Do you think bitcoin and crypto will becoming big in fantasy sports or not so much? Tell us in the comments!