ASX Sports launches €750,000 fundraising campaign

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Fantasy sports start-up ASX Sports launched a new €750,000 fundraising campaign today.

Paddy Power, the former communications manager of Paddy Power Betfair – now Flutter Entertainment – created the exchange last year.

ASX integrates fantasy sports scoring with financial market technology to create the world’s first sports trading exchange.

The investment round with Spark Crowdfunding will be the last chance to invest in ASX Sports Pre-Series A. Last year, ASX raised €2.2 million in less than a month using the crowdfunding platform.

To coincide with the crowdfunding campaign, ASX Sports today launched its new peer-to-peer contests, making it the first fantasy sports platform in the world to host live fan contests during matches.

The technology allows players to create their own contests and play against friends and other players for real money or “sportzcoins”.

It will also allow sports celebrities, eSports gamers and social media influencers to monetize their own subscribers and streamers through the gaming platform.

“The launch of peer-to-peer games on ASX demonstrates our commitment to driving innovation in the fantasy sports market,” said ASX Sports Chairman Paddy Power.

“This comes at a time when our beta app has been installed over 20,000 times, with over 30,000 contest entries in 10 of the world’s biggest sports leagues and competitions, including the NFL, NBA, EPL , MLB and the Six Nations,” he said.

“In addition, our app has been ranked among the top 100 sports apps in 11 different countries, including the United States, Ireland and South Africa. Additionally, SportsPro Media has named ASX among the top 20 start-ups of sports technology to invest in for 2022,” he added.

Equity crowdfunding is a type of fundraising where small and medium investors can invest from €100 in a company in exchange for shares of that company.

It works much the same as Dragons’ Den where companies present investments and the “crowd” decides whether they want to invest or not.

Dublin-based Spark Crowdfunding has over 9,500 investors in its database and has raised funds for 28 Irish start-ups over the past three years.

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