$RAGE Utility Series: Governance

Every wealthy person wishes for one thing in the world: a sports club. Every year, a large number of billionaires bid for sports teams, but the dream has remained elusive even for the wealthy. Sports clubs are notorious for being more secretive, locked, and difficult to break into than Fort Knox.

Fandom fuelled by the Blockchain, on the other hand, is thriving where even the big money club has struggled. Fandom in fantasy sports is no longer limited to clapping, roaring, and waving. Giving fans important governance rights makes it possible to own and manage sports teams, and therefore the factors that control team performance.

Fans will live vicariously through sports managers and coaches by building their own teams thanks to the virtualization of actual sports games. Players in fantasy sports will mix and match players and skills to improve their chances of winning. The owners, as in the real world, make the major decisions, such as how much the coaches, managers, and players will be compensated. If you don’t have the funds to sign Marcus Rashford of Manchester United FC or Jasprit Bumrah of the Indian cricket team, you’ll have to settle for second-best draft picks, which will depend more on luck than talent to win.

Rage is a fan-made game. The Fan Fantasy Sports platform empowers players to make these critical choices for themselves. Anyone who owns $RAGE, the platform’s native token, can vote and play. By acting as both the game currency token and the group governance token, $RAGE tokens provide owners with powerful governance rights in addition to being a means of exchanging value and utility.

Governance tokens are quickly becoming one of the most valuable assets in the crypto industry as consumers recognize the true value proposition of voting rights. They offer holders a say in how a protocol develops in the future, affecting everything from how a project works and what features it has to its economic model and governance structure. Holders may make proposals for votes in addition to voting.

Power

Players in fantasy sports will vote on the factors that influence their ability to recruit the best players for their teams. Fans decide on crucial criteria such as the percent of the incentive pool paid out, the bonus for each level, participation fees, and so on by self-governance.
Users of the platform, who suggest, discuss, and vote on protocol issues, could, for example, determine the number of points required to purchase top players. The sports league becomes more egalitarian by voting to lower the scores.

Monetization

On the blockchain, fantasy sports platforms are creating fan-first experiences that do away with high entry and withdrawal fees but low player payouts. Fees are tiny, and profits are split. But how do you prevent a big whale from amassing a plurality of tokens, and thus governance power, and wielding too much control over the platform?
Fans will increase their token wealth and voting power on the Rage.Fan platform, giving them more influence over all the variables that lead to their sports team’s success.

Quizzes are an especially effective method for aligning incentives. In the current fantasy sports game model, a few top token holders control the majority of the wins, while other users have few opportunities to increase their wealth and influence by honing their skills and expertise. Consider what would happen if the Bulls and Lakers were NBA champions without Phil Jackson, or the Packers in the NFL without Vince Lombardi. Rage, you must level the playing field. In order to build a true meritocracy, Fan has built structures into its game play. Quizzes are one such mechanism. Players can gain points by taking quizzes before, during, and after games to demonstrate their knowledge and skills.

A sports team can only be fan-focused if it is a meritocracy that is accessible, transparent, and self-governed. Rage is governed by a well-designed governance structure. Through powerful governance rights that empower a truly fandom-driven network, fan users will not only walk in the shoes of top sports administrators, but also of sports franchise owners.

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Trephason Reuben

Blockchain evangelist, Crypto and DeFi enthusiast, creative thinker and a content creator.