Imagine owning a football team, trading athletes and coaches, calling plays on the field...all with the power of crypto.
The Fan-Controlled Football League allows you to do just that.
CEO Sohrob Farudi joined Cheddar to talk about why blockchain technology makes more sense than the traditional “gold” or “gems” awarded in video games.
“These are professional players, professional coaches, and we’re putting their lives in the hands of fans. Blockchain is a way to give transparency in the voting process,” he said. “Everybody can see the votes, they’re recorded on the blockchain. People can trust that the votes that they cast are actually being counted correctly.”
FCFL, slated for launch this summer, allows fans to build up Ethereum-based FAN Tokens and use them to manage the action both on and off the field. Farudi tested the concept this past season with the Salt Lake Screaming Eagles, who played in the 10-team Indoor Football League. He says fans from a hundred countries got involved.
The 8-team FCFL was the first company to raise funds through Indiegogo’s newly-launched initial coin offering platform. This week it also announced Ethereum co-creator Steven Nerayoff was one of two new appointees to its advisory board.
“Having somebody that actually helped create one of the most well known blockchains in Ethereum really sets us apart and lets us give people trust that we’re building this the right way.”
For full segment [click here](https://cheddar.com/videos/cme-group-launches-bitcoin-futures-2).
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Federal regulators are investigating Chevrolet Volt hybrid cars after some drivers reported issues including sudden power loss and failure to restart.
Fed Chair Jerome Powell weighed in on interest rates, some of Tesla's cybertrucks have been delivered, Apple and Paramount have reportedly discussed bundling their streaming services together and Panera Bread has reportedly filed to go public.
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Pfizer will stop the development of its twice-daily weight loss pill due to adverse side effects.
Stocks were generally flat after the opening bell on Friday ahead of Federal Reserve Chair Jerome Powell's comments in a speech at Spelman College later. Investors are growing optimistic that the central bank is done raising rates and may start cutting next year.
Holiday shopping on a budget.
The network of nearly 4,800 fake accounts was attempting to build an audience when it was identified and eliminated by the tech company, which owns Facebook and Instagram.
