Twelvth: Revolutionising Fantasy Sports with Web3 Technology
Twelvth, founded by Debtanu Das and Trang Phan, is a web3-based fantasy sports platform set to disrupt the traditional fantasy sports and betting industries. With a unique approach combining fantasy sports and the stock market, Twelvth allows users to trade players like stocks, buying and selling based on their real-world performance and create virtual teams to compete against other users.From Finance to Fantasy Sports
Debtanu and Trang’s backgrounds in finance were pivotal in shaping the concept for Twelvth. Debtanu, originally from India, has a background in economics and finance, having completed his Master’s in Finance at Durham University. Trang, who also holds a Master’s in Finance from Durham University, shares Debtanu’s passion for sports, particularly football. Together, they developed the idea for Twelvth, aiming to create a platform where sports enthusiasts can invest in fantasy football players as if they were stocks.
“It’s like a stock market for sports,” Debtanu explained. “Users can trade players, and their value changes based on real-world performance. It’s not just a game, it’s a real-world investment experience.”
The Role of DCI in Twelvth’s Growth
The journey of launching Twelvth was challenging, especially for two international students in a new country. “One of our biggest challenges was making connections in a new country,” said Debtanu. “We didn’t know many people here, so DCI was incredibly helpful in connecting us with the right individuals.”
Through the Durham City Incubator (DCI), the Twelvth team found mentorship, legal guidance, and networking opportunities that were essential to getting the business off the ground. “The legal sessions were incredibly useful, especially with the complex regulations around launching a product in different jurisdictions,” Debtanu added. “DCI’s grant support has also been crucial in developing our MVP, which is currently under development.”
Challenges and Legal Considerations
As the platform incorporates blockchain technology, Twelvth faces unique legal challenges, particularly with cryptocurrency and tokens. “Different countries have different regulations, especially regarding the trading of tokens, and we need to navigate that.” said Debtanu.
Despite these hurdles, Twelvth has a bold vision for the future. “Our goal is to become a unicorn in five years, targeting markets in Europe and Asia where fantasy sports have yet to fully evolve,” said Debtanu. “We’re not just looking to be a part of the market, we want to revolutionise it.”
Looking Ahead: The Future of Twelvth
In the coming years, Twelvth plans to expand its offerings to include additional sports beyond football, taking advantage of the wealth of data available across various sports. “We’re starting with football, but we will incorporate more sports as we go,” Debtanu explained. “The technology behind the platform is scalable, so once we get it right for football, expanding will be seamless.”
The platform is also set to integrate blockchain technology, allowing users to trade fantasy sports players as tokens. Additionally, we will introduce our own token, which can be earned through rewards and will initially be non-tradable. This move is expected to take the platform into the next level of innovation, offering users more flexibility and financial opportunities than ever before.
Advice for Aspiring Entrepreneurs
Debtanu’s advice to entrepreneurs is simple but profound: “Get out of your comfort zone and be ready to face challenges. The journey isn’t always easy, but with the right mindset and support, you can overcome anything. DCI has been an incredible resource, and I highly recommend it to anyone looking to start their own business.”
Conclusion
With the support of the DCI programme, Twelvth is on its way to becoming a groundbreaking player in the fantasy sports market. By combining sports with a stock-market approach and leveraging the power of blockchain technology, Twelvth is poised to revolutionise the industry. As they continue to grow and expand into new markets, there’s no limit to what this innovative platform can achieve.
Visit Twelvth12.com to learn more and join the early user list for exclusive access and updates as they build the future of fantasy sports.
Ready to grow your business and get the support you need? Visit DCI’s website to learn how the Durham City Incubator can help turn your ideas into reality.