The Football League Using Crypto to Give Fans Control of the Game
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).
An independent watchdog within the IRS reports that while taxpayer services have vastly improved, the agency is still too slow to resolve identity theft cases. And National Taxpayer Advocate Erin Collins says those delays are “unconscionable.” Erin M. Collins said in the report released Wednesday that overall the 2024 filing season went smoothly, though IRS delays in resolving identity theft victim assistance cases are worsening. It took nearly 19 months to resolve self-reported identity theft cases as of January, and Wednesday's report states that now it takes 22 months to resolve these cases.
Amazon.com Inc. surpassed $2 trillion in market value for the first time in afternoon trading on Wednesday. The push higher for Amazon’s stock market valuation comes a little more than a week after Nvidia hit $3 trillion and briefly became the most valuable company on Wall Street. Nvidia’s chips are used to power many AI application and its valuation has soared as a result. Amazon has also been making big investments in AI as global interest has grown in the technology. Most of the company’s focus has been on business-focused products.
Climate change doesn’t just mean more extreme weather – it also leads to billions of dollars in lost productivity, tourism, and stresses infrastructure.
