Phantasia Deep Dive

Bringing the best of Fantasy Sports and Crypto

10 min readOct 27, 2021

“Phantasia is a decentralized fantasy sports platform that leverages blockchain to bring its benefits to fantasy sport”

Before diving into what the above statement means, let us understand what fantasy sport is and why it is popular?

Have you ever imagined owning a sports team?

Fantasy Sports lets you create your virtual team and contest against other virtual teams.

You create a team from a pool of available players. To make the fantasy sport challenging there will be a few constraints. Mostly a cap on the budget for building your team.

The goal is to select the best players within the salary cap and create a team.

Your team earns points based on the performance of the selected players in the actual matches. These contests can be free to enter or may have a fee.

With pay to enter contests, fantasy sports becomes a game of skill and not just fun.

You can play a public contest or private contest with your friends, family, coworkers.

Why do people play fantasy sports?

Active participation – They are engaged with the sport. Want to use their sports knowledge and manage their team.

Earn Rewards - To earn money or prize on winning the contests. Platforms like DraftKings, dream11 have real money contests.
For Social Experience -Banter, water cooler discussions with colleagues, discussion with family. Bragging rights by winning the contests vs family and friends. Official fantasy platforms of various leagues like EPL, Formula 1 have prizes at the end of the tournament.

Why play on Phantasia when DraftKings, Dream11 and lot of other options are available?

Phantasia users don’t need in-depth crypto knowledge to play. So once you sign up and connect your crypto wallet(don’t worry, the detailed steps are shown later), you are all set to play.

It caters to the users who are looking for rewards as well as those looking for bragging rights.

Earn $FANT tokens as rewards for winning contests. (Tokens are digital currency)
Show off your skills and achievements with the Phantasia NFT collection. (Think of NFTs as a digital certificate that can verify the ownership of your digital assets)

There are broadly two types of fantasy contest

Daily/Weekly contests – where you create your team before the match day or match week. You earn points as soon as the matchday or match week ends.
Season contests – where you create your fantasy team before the start of the season. You earn points after all the matches of the season end.

There can be both free and paid contests. In the beta platform of Phantasia, public contests are free to join and there are no prizes. However, few private contests are also there which are free to enter yet have prizes. These private contests are for the holders of certain NFTs. More on these private contests are covered in the later sections.

Type of rewards on winning the contests in Phantasia

Winner takes all. As the name suggests, the entire prize pool is won by the leader of the contest.
50:50. The top 50% of users split the prize pool evenly.

Once the contest ends, Users earn $FANT tokens by winning contests

There is an option to earn an extra $FANT as well. the more you interact with the protocol and complete different in-game quests, the more rewards you can earn.

To ensure all the users get access to the same data, the data used in Phantasia is by a 3rd party sports data provider – Sportsdata.io.

Sportsdata.io works with DraftKings, Yahoo and many other major platforms.

[There are plans to bring the data on chain with the help of Chainlink]

Rewards made for the digital world — NFTs

I have been playing Fantasy Formula 1 since the start of the season. As there is no money involved, I play it for the social experience. However, my in-game achievements are not easily verifiable.

A sense of identity is important for fantasy players. They play not only for the prize money but also for the bragging rights. To show off their skills in contests and their achievements.

Phantasia uses NFT to help users achieve this. Think of NFT as a digital certificate that verifies the ownership of a digital item.

Phantasia has “Fan Card” for in-game identity. It is your In-game profile while competing in the fantasy contests.

“Fan Card” is a fun way to flex in the digital world. Enables you to announce your presence among your friends and rivals.

It appears in the leaderboard for both private and public tournaments and the in-contest chat rooms.

The “Fan Card” consists of different Phantasia NFTs. It will be Profile Picture (PFP in short) + smaller vanity NFTs. “Fan Card” can be customised based on the user’s choice and achievements.

The first Collection of PFP, Phanatics will be released in seasons. Mostly as per the sports season or special events like Super Bowl, World Cup, main fight event.

Utility of Phanatics

In-game utility – early access to exclusive features like club contests.
Season 1 holders will be 1st minters of future drops.
Will be listed on secondary marketplaces as well to trade.

The Fan card consists of 3 components. All the components of the fan card are customizable.

Mascot – The Profile Picture. The main image of your fan card. Based on generation art created every season and special event.
Badge – For winning a contest or tournament you will get a badge. Other types of badges like flags, memes etc can also be purchased.
Skin – Acts as the background of the card.

These are Minted as Phantasia NFTs. The custom fan cards can also be traded with other users.

Phanatics can be bought on the exclusive Phantasia marketplace. While the other can be earned through winning tournaments or contests.

A private fantasy sports contest for NFT holders.

Along with the various public contests, Phantasia also enables private tournaments for the holders of any particular NFT project. It provides Gated access only to the holders of that NFT to play in the contest.

These Closed leagues are currently available for Rox and Rogue shark NFT holders.

Phantasia provides an added utility to the NFT project without any administration effort. The holders are verified on the blockchain. So All the holders can participate.

The NFT team just needs to promote the contest.

Not just the NFT project, the holders of an NFT can also create a contest among other holders. The contest creator can select an NFT from their wallet. Then other users who hold that NFT collection can also join the contest.

Create your own private club and host private contests

Phantasia also enables the users to create exclusive clubs.

They can host private contests with their friends and rivals. Users also get incentivized to run their league.

The clubs will be tiered. Different levels unlock additional features for all members of the club. These features are not available for normal users.

To achieve the desired club level, the club owner will have to stake $FANT tokens

In a centralized fantasy sports platform where you play to earn money, the platform takes a rake fee for providing the services.

In the case of Phantasia, users are not only the players but also the house. Rake fees are redistributed to the users. Any user who stakes $FANT has a share in the rake fees of the contest.

Phantasia has a transparent rake fees system. It is a tiered system of .5 points increments, The fees vary from 5% down to 3% depending on the $FANT staked.

For example, the Rake fee of a centralized fantasy sports platform is 10%.

If you put in $50 in a contest and You win $100, then $10 is taken by the platform.

But in Phantasia, the Rake fees of $3-$5 will be redistributed among the FANT token holders who have staked.

Users can also reinvest their staked earnings back into Phantasia to further increase the earnings. They can track and withdraw the staked tokens anytime.

Fant is a utility & revenue token. Holders are rewarded with

Dividends
Lower rake fees.

The following breakdown shows how the discounted rake fees will work.

Community shapes up the evolution of Phantasia

Creating a community is central to a great experience for any decentralized platform. The importance of community increases further when it is related to fantasy sport.

Building a community where players can get rewards for their sports knowledge.

The community is involved in how the project evolves and not just the gameplay.

The team also has rewards in place for the users finding bugs and suggesting new features.

For finding a bug: 500 FANT

Users who have found a new bug that was not previously discovered will receive the reward

Submit a feature enhancement: 200 FANT

Any feature that is submitted and prioritized into the roadmap, the user will receive an additional 500 FANT.

Not just testing. The main role of the community is in helping the newbies.

Conclusion

Phantasia brings benefits for the users not available in the regular fantasy sports platforms.

The FANT token enables users to receive benefits such as

Lower rake fees
Profits sharing of rake fees among the users who have created their clubs by staking FANT
Generating yield on the entry fees for longer tournaments. In Centralised platforms, fee is idle till the end of the contest.

With a focus on governance and building a passionate community, the Phantasia team is also working on bringing multiple payments options.

Not everyone wants volatility. Option to pay entry fees in stable coins USDC, native FANT token and Solana is on the roadmap.

Based on the vote of the community, they are also looking to add non crypto payment options. To easily Onboard new users who are not familiar with crypto, an option to add funds using a credit card is also being developed.

In case you wish to try Phantasia

Here’s the guide to begin your fantasy sport journey.

Phantasia is available at phantasia.app

2. Connect your crypto wallet with Phantasia. Each wallet has its own pros and cons. I have picked up sollet.io as my wallet.

3. If you don’t have a wallet, sollet will create a new one for you. Keep the seed phrase in a secure place and don’t share with anyone. Think of it as the master password.

4. After storing the seed phrase in a secure place, re-enter the phrase to confirm

5. Your wallet is ready. Public address can be shared to receive funds into your wallet.

6. You are now ready to use Phantasia.

7. Lobby: Shows the available contests. Tags of the league, whether it is NBA, NFL or some other league. The reward details. When you decide on which contest to join, click on “Enter contest”

8. Now is the time to utilize your sports knowledge and build your team.

You will be given a budget to build the team. The goal is to build the best team within the available budget.

Match pool shows the games that are a part of the contest. Available players show the players of these teams which you can select. If you click on a specific match in the match pool, it will filter players of only those teams in the available players.

“Proj.” column shows the projected points of the player.

“Opp.” column shows the opposing team and ranks them in difficulty. teams which are easier to play are in green & difficult teams are in red color.

9. Clicking on any of the players will show you their projected points.