Aventus selected as blockchain provider for fantasy sports trading exchange ASX Sports
August 11, 2022
- ASX Sports, the world’s first fantasy sports platform with live in-game trading founded by Paddy Power, has partnered with Aventus Network as its blockchain provider
- Aventus will create a permissioned version of the Aventus Network for ASX Sports, allowing the sports trading exchange to securely track transactions and unlocking a whole new suite of offerings such as NFTs
11 August 2022 – London, UK: Aventus, an enterprise-grade blockchain, today announces a partnership with ASX Sports, the world’s first fantasy sports platform with live in-game trading founded by Paddy Power, the son of David Power, who co-founded the betting giant bearing the same name.
Aventus will set up 10 permissioned nodes for ASX Sports – meaning that the ASX Sports blockchain will benefit from the same level of security as the Aventus Network. The ASX Sports blockchain will also be fully connected to Ethereum, allowing for interoperability between the ASX Sports blockchain, Ethereum and the Aventus Network.
What’s more, because Aventus is built on Substrate (and by extension, so too is the ASX Sports blockchain), ASX Sports also has the option to become a parachain on Polkadot in future, benefiting from the speed, security and interoperability that the parachain ecosystem offers.
The move will ensure that ASX Sports maintains full control over all transaction activity on its site, enhancing its anti-money laundering (AML) capabilities, as well as enabling the fantasy sports trading exchange to launch an NFT offering, allowing the platform’s users to create, buy, sell and trade NFTs.
Alan Vey, Founder and Chairman of Aventus, commented: “We’re thrilled that ASX Sports selected Aventus as its blockchain provider. Currently, blockchain is rolling out much like the internet, where siloed pockets of value need to be connected together to allow an explosion of value through the network effect. This partnership will allow ASX Sports to leverage all the benefits of Aventus Network’s interoperability, while maintaining full control of its users and access points – the best of both worlds.”
Paddy Power, President and Co-Founder of ASX Sports, said: “This strategic partnership with Aventus has opened the door wide open for us. Not only will it enable us to enhance the security of our platform, but the added capabilities that blockchain capabilities enable, such as NFTs, are particularly exciting, both to the ASX Sports team and our users. With the power of blockchain and the support of the innovative team at Aventus, the sky’s the limit!”
Norman McBrien, Managing Director of ASX Sports, added: “When we decided to make the move to integrate blockchain into ASX Sports, choosing the right partner was extremely important to us. The interoperability and scalability of Aventus, its enterprise-grade product suite and the professionalism and helpfulness of the team have made the relationship an absolute pleasure so far. We’re excited to see what the future holds for us with Aventus.”