One fine sunny morning back in April 2021, a team of developers working remotely, launched the flagship product to engage millions of sports fans across the globe. We married the best of fantasy sports and blockchain technology to provide a transparent gaming system.
There are challenges for crypto-newbies who are Daily fantasy sport(DFS) players but not well versed in crypto to join and participate in RageFan Fantasy sports. There were multiple hoops to jump before you had $Rage to start playing with. We allowed users to get $Rage through our products and marketing initiatives such as,
- Scramble App: Walk around your city and collect $Rage for free (think PokemonGo) which can then be used to play contests on the fantasy app
- Run Zero Entry Contests: Pay Zero $Rage to enter a fantasy contest. ZERO.
- In-app Games: Play to Earn $Rage via in-app games like Snake and Dino Jump
- Giveaways: Participate in giveaway contests to win $Rage
While the marketing activities drew crowds, we couldn’t retain them. The $Rage given as bonuses and rewards ended up being dumped. There is a serious need to ensure the users actively participate in the DFS contests. As more users start playing the community will grow and product will start drawing in more serious fantasy players.
INTRODUCING PLAY RAGE ($PRAGE) TOKENS
So, we went back to the drawing board to start afresh. Our aim still was:
Help onboard new-to-RageFan users in a seamless fashion, especially the large part of our community who are just getting started on their crypto journey.
PRAGE is our humble attempt at easing the onboarding process for our players and increasing usage of the DFS platform. $PRAGE will be pegged to $Rage and can only be used within our ecosystem.
Some features for PRAGE:
- Pegged to $Rage — All PRAGE tokens released into the ecosystem will be backed by locking equal amounts of $Rage. Hence the total of $Rage+ $PRAGE will not exceed the total volume of $Rage
- Non-transferrable — PRAGE tokens can only be used to play daily fantasy games and other games (work in progress) within the RageFan ecosystem. PRAGE cannot be transferred to another wallet.
- Marketing Tokens — henceforth all #playtoearn tokens like giveaways, Snake and Dino games, rewards and other initiatives will be partly or fully paid in $PRAGE.
- Convert $PRAGE to $RAGE by winning contests — the only way to convert a PRAGE token to Rage is by entering a fantasy contest. Players pay the entry fee using their $PRAGE tokens and all winnings from the contest are paid out in $RAGE
We believe that this approach will help the DFS platform grow with more daily active users. New users coming onboard will have higher incentive to participate in a thriving DFS ecosystem. The users will get a higher utility for Rage now and will reduce the dumping of tokens, supporting token price overall.