Aventus selected as blockchain provider for fantasy sports trading exchange ASX Sports
10 August 2022, 18:00:00
ASX Sports, the world’s first fantasy sports platform with live in-game trading founded by Paddy Power, has partnered with Aventus Network as its blockchain provider. Aventus will create a permissioned version of the Aventus Network for ASX Sports, allowing the sports trading exchange to securely track transactions and unlocking a whole new suite of offerings such as NFTs.
ASX Sports, the world’s first fantasy sports platform with live in-game trading founded by Paddy Power, has partnered with Aventus Network as its blockchain provider
Aventus will create a permissioned version of the Aventus Network for ASX Sports, allowing the sports trading exchange to securely track transactions and unlocking a whole new suite of offerings such as NFTs
11 August 2022 – London, UK: Aventus, an enterprise-grade blockchain, today announces a partnership with ASX Sports, the world’s first fantasy sports platform with live in-game trading founded by Paddy Power, the son of David Power, who co-founded the betting giant bearing the same name.
Aventus will set up 10 permissioned nodes for ASX Sports – meaning that the ASX Sports blockchain will benefit from the same level of security as the Aventus Network. The ASX Sports blockchain will also be fully connected to Ethereum, allowing for interoperability between the ASX Sports blockchain, Ethereum and the Aventus Network. What’s more, because Aventus is built on Substrate (and by extension, so too is the ASX Sports blockchain), ASX Sports also has the option to become a parachain on Polkadot in future, benefiting from the speed, security and interoperability that the parachain ecosystem offers.
The move will ensure that ASX Sports maintains full control over all transaction activity on its site, enhancing its anti-money laundering (AML) capabilities, as well as enabling the fantasy sports trading exchange to launch an NFT offering, allowing the platform’s users to create, buy, sell and trade NFTs.
Alan Vey, Founder and Chairman of Aventus, commented: “We’re thrilled that ASX Sports selected Aventus as its blockchain provider. Currently, blockchain is rolling out much like the internet, where siloed pockets of value need to be connected together to allow an explosion of value through the network effect. This partnership will allow ASX Sports to leverage all the benefits of Aventus Network’s interoperability, while maintaining full control of its users and access points – the best of both worlds.”
Paddy Power, President and Co-Founder of ASX Sports, said: “This strategic partnership with Aventus has opened the door wide open for us. Not only will it enable us to enhance the security of our platform, but the added capabilities that blockchain capabilities enable, such as NFTs, are particularly exciting, both to the ASX Sports team and our users. With the power of blockchain and the support of the innovative team at Aventus, the sky's the limit!”
Norman McBrien, Managing Director of ASX Sports, added: “When we decided to make the move to integrate blockchain into ASX Sports, choosing the right partner was extremely important to us. The interoperability and scalability of Aventus, its enterprise-grade product suite and the professionalism and helpfulness of the team have made the relationship an absolute pleasure so far. We’re excited to see what the future holds for us with Aventus.”
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Notes for Editors
Aventus is an enterprise-grade blockchain that marries the scale of a permissioned blockchain with the security and interoperability of public blockchains — with none of the drawbacks of either world.
Founded in 2016, Aventus makes building on Polkadot, Ethereum and beyond accessible for businesses and decentralised platforms, bringing interoperability, scalability and sustainability to Ethereum transactions. In its first year of operation, the Aventus Network has onboarded over 20million transactions for business clients.
Aventus’ mission is to enable companies in any ecosystem to capitalise on a vast series of use cases – including NFTs, video games, loyalty schemes, event ticketing, supply chain provenance and cargo management – via enterprise-grade modular architecture and future-proof themselves via blockchain interoperability.
About ASX Sports
ASX Sports is a blockchain powered interactive global sports and entertainment platform that is taking fan engagement to the next level via a fintech-quality exchange that allows sports fans to ‘trade’ in game. ASX Sports has created a first-of-its-kind, LIVE, second screen, OTT experience for their players across multiple sports including American Football, Basketball, Soccer, Rugby and Baseball.
ASX Sports is proud to be named among 20 sports tech start-ups to invest in by SportsPro in 2022 and was also a member of the Sportradar Acceleradar Program. With strong roots in betting and sports entertainment innovation driven by the Paddy Powers brand, ASX Sports has pushed into the US with headquarters in Miami, a leading fintech and crypto hub and is creating the digital infrastructure for social plus sports gaming & monetisation. ASX Sports apps are free to download for Android and Apple devices.