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Tag Archive blockchain

Canadian Blockchain Company Helping Further eSports Development

https://coinsquare.com/register/?r=80UMM

Nova Scotia-based technology startup Ubique Networks, Inc. partnered with Sri Lanka’s national telecommunications provider Sri Lanka Telecom (SLT) to use blockchain to power eSports for Sri Lankan gamers.

Originally reported by gaming new site Gaming Post, the two parties signed a formal agreement in November 2018 at the Sri Lankan-based Canadian High Commission.

Ubique Networks will provide it’s Swarmio technology, based on its “Q Network” blockchain protocol to provide a decentralized gaming platform for Sri Lanka. The Swarmio dApp, according to reports, is already used by around 25,000 eSports players.

Swarmio’s goal is to allow gamers or eSports players to compete against each other globally with zero lag or latency using its blockchain and intelligent technology.

The technology will be used to meet Sri-Lankan gaming demand from millenials. eSports players will be able to organize and play in competitions based on Ubique’s blockchain technology. There currently appear to be three games available on the platform.

The Q Network uses distributed ledger technology (DLT) and artificial intelligence (AI) to provide real time interactive services. As well as the Swarmio dApp technology, Ubique Network’s is exploring its blockchain protocol’s application for 5G mobile internet of things (IoT).

The Q Network blockchain also has a native dApp called Q Node which allows normal PC users to peer-to-peer share idle resources. Users can choose to allocate unused storage space or processing power when their systems are not in use. Decentralized resource sharing could eventually begin to replace massive centralized data centers by using a connected network of many smaller devices which share power and resources where needed.

Ubique Networks hopes to build a hyperconnected, yet decentralized, computer network using its Q Network blockchain.

The company was created in 2015 by CEO Vijai Karthigesu. The organization received funding from investment from Toronto-based venture capitalists Extreme Venture Partners (EVP) and Nova Scotia’s Innovacorp. The company also won an “Export Achievement Award” from Nova Scotia’s Sydney Chamber of Commerce in 2017.

On top of equity investments and prize winnings, the company received a repayable investment of $500,000 from the Atlantic Canada Opportunities Agency’s Business Development Program in June 2018. This last funding was to expand its team from 14 to 24 and help with commercializing the platform and upgrading data centres.

In December 2018 Ubique added a third Canadian office at Volta Labs in Halifax, Ontario.

Image credit: Ubique Networks logo

SOURCE: Coinsquare

URL: https://coinsquare.com/register/?r=80UMM

Instant Sponsor’s New Business Model Will Revolutionize the $66 Billion Sponsorship Industry

Instant Sponsor is set to democratize the sponsorship industry by creating a marketplace connecting sponsors and rights holders

LOS ANGELES, July 17, 2018 /PRNewswire/ — Instant Sponsor‘s business model is about to receive a facelift. The once independent sports sponsorship agency is set to disrupt the $66-billion sponsorship industry with a revolutionary blockchain-powered platform that connects brands with rights holders across sports, esports, and entertainment.

Between 5-50 percent of a professional sports team’s sponsorship inventory goes unsold each season, resulting in billions of dollars of lost revenue across the industry. At the same time, player costs continue to rise, forcing teams to put an emphasis on selling sponsorship inventory. Instant Sponsor lowers the barrier of entry for brands to buy that unsold inventory on short-term contracts, while rights holders reap the benefit of additional income that would typically be lost.

Traditionally, the process for brands to secure a sponsorship deal with just one team can take up to five months including due diligence and contract negotiations. Instant Sponsor automates and standardizes the acquisition process with the help of smart contracts, reducing it to just under five hours.

Additionally, the platform allows brands to access sponsorship opportunities in real time. Instant Sponsor has previously delivered short-term sponsorship deals to teams and athletes just hours before a tournament or game commences. This process will now be expedited on a blockchain-powered peer-to-peer network.

Instant Sponsor’s first-of-its-kind global sponsorship marketplace is set to democratize the sponsorship industry by providing access, value, and efficiency. A proprietary algorithm calculates a brand’s target market, demographics, and budget to create a customized advertising campaign made up of diverse assets across multiple sports. The algorithm used to generate these results is guaranteed to deliver maximum ROI for the sponsor.

Sponsors can transact on the platform both in fiat or native Instant Sponsor cryptocurrency. A blockchain management platform allows smart contracting, reduced transaction fees, escrow and secure international payments.

Previously, Instant Sponsor has sourced sponsors for teams in the National Basketball Association (NBA), National Hockey League (NHL), Major League Baseball (MLB), the Australian Rules Football league, Australian Football League (AFL), and multiple athletes from the PGA and European Golf Tours as well as the ATP and WTA Tennis Tours. 

Media Contact:

Mike Murphy
Phone: 484.784.8172
Email: Mike@instantsponsor.com

SOURCE: Yahoo! Finance

URL: https://finance.yahoo.com/news/instant-sponsors-business-model-revolutionize-154900923.html

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