T
he American SportZ Exchange (ASX) announced a distribution agreement for its social gaming products with 4Tune Entertainment Group. The deal has the potential to reach over 90 million digital users in the USA.
ASX is a new fantasy sports betting company led by Paddy Power where players and team’s virtual shares can be “traded.” The FinTech inspired startup, which will allow users to buy or sell “shares” based on how they believe a player or team will perform, is being described as “the world’s first sports trading exchange.” It will offer live “share prices” of individual players and teams based on expected performance, said the company.
Paddy Power, the son of Paddy Power’s co-founder David Power, said that he has already entered partnership discussions with multiple US professional sports teams and broadcasters. These include the Philadelphia Phillies and Toronto Blue Jays MLB teams, Las Vegas’s Golden Knights NHL, New Orleans Saints NFL, the online sports subscription video streaming service DAZN and the Canadian broadcasting and telecoms group Rogers Media is also in discussions with the Company.
4Tune CEO Robert Miller said: “The ASX set of products and fan engagement tools has significant appeal for US professional sports teams. Our strategic sports broadcast partners see ASX as an intuitive extension of fantasy sports with the excitement of a trading marketplace. The ASX team has combined intuitive play using familiar stock exchange transactions combined with the dynamics of live sporting events and in-stadia play.”
ASX and 4Tune are exploring several application models which include a standalone exchange for players and a white label solution for major sports teams or media operators. Mr. Power said, “There are opportunities for teams and clubs to own their fans’ engagement in this type of activity.” Pending completion of ASX capitalization, 4Tune expects to launch ASX by the first quarter of 2022, according to a press release.
