NEW YORK, March 9, 2021 /PRNewswire/ -- SportsGrid, Inc. announced today the exclusive technology partnership with FANDEX to launch a Free-to-Play (FTP) gamification platform to reach and captivate the gaming audience. The SportsGrid gamification ecosystem of interactive entertainment content will engage the millions of passionate sports fans with new levels of media consumption, communication, and commerce. The strategic technology partnership with FANDEX features an interactive innovative Free-to-Play sports stock market exchange for SportsGrid users to create their portfolio of teams to win contests and prizes.
FANDEX developed a proprietary software application built on their algorithmic trading platform to account for variables such as price, timing and volume. The FANDEX algorithm evaluates the value and market price of each team's share within each major professional league or collegiate conference. The FANDEX software application accounts for team's performance, strength of schedule, margin of victory (including home field advantage), and injury reports. As a team performs well, their market share price increases, and as a team underperforms, their share price decreases in value. The Free-to-Play contestant prize structure is based upon rewards points that can be redeemed for merchandise, gift cards, and other rewards.
"Our company is delighted to welcome FANDEX into our stable of technology offerings as our official Free-to-Play partner," said Jeremy Stein, Co-Founder and CEO of SportsGrid. "FANDEX is a robust platform that combines stock market like economics with a novel sports approach. We are excited to be working together to take the platform to new heights."
"We are excited to partner with the premier media property in sports gaming and gambling," said Ed Tiryakian, Chief Business Officer of FANDEX. "FANDEX is an innovative gaming concept, developed by Duke and Stanford students at the forefront of driving fan engagement. Our entire team is very pleased to share this new form of gaming and content with SportsGrid Nation so they can enjoy sports the same way 50K+ FANDEXers enjoy sports. Here's to the end of busted brackets and welcome to FANDEX!"
SportsGrid, Inc. is the multimedia technology platform providing digital innovative solutions for the convergence of sports content, gaming, and mobile technology. The SportsGrid multimedia destinations include SportsGrid Streaming Video Network, SportsGrid Radio, SportsGrid.com, DailyRoto, and SportsGrid Studios. With the seismic shift towards multiscreen IP, cloud, and data-driven distribution of sports content, SportsGrid launched the STS video content management and distribution initiative in 2020. The STS video distribution platform syndicates the exclusive SportsGrid short form programming to premium publishers to grow and engage their digital sports gaming audiences. SportsGrid, Inc. is the content source and destination serving the massive sports gaming audience with the unrivaled best of breed programming, technology, data, and gaming analysis.
FANDEX is the integrated synthetic stock exchange for team and individual sports allowing fans to win both cash and prizes by trading shares in their account. CNBC meets ESPN. Designed by Duke and Stanford students to enhance the gaming and gambling experience for leagues, teams, content providers and most importantly sports fans is at the core of FANDEX's DNA. Buy, sell and short your favorite teams and athletes, in-season and out-of-season 24/7/365. Our proprietary technology and patent pending pricing mechanism (EPP™) was developed with the sports fan's experience, casual and fanatic, as the primary focus. FANDEX allows fans to monetize their team and sport interests like never before.