The dotmoovs platform rewards athletes for practicing and competing in games and tournaments in a process known as sports mining. Participants can earn the native MOOV token by showing off their skills or competing in a series of challenges. With football legends Luís Figo and Ricardo Quaresma as ambassadors, dotmoovs is implementing blockchain technology in the sports industry in a way never seen before!
In this article, we will explore the dotmoovs mobile platform and the native MOOV token. We'll look at some of the platform's innovative features and how it's changing the game for up-and-coming athletes around the world. Additionally, we will discuss sport mining and the growing presence of blockchain in the sports industry. Additionally, we will look at non-fungible tokens (NFTs) and the role they play on the dotmoovs platform.
Blockchain presence is always increasing in a wide range of industries. The sports industry is no exception!
In this article, we will discuss:
What is dotmoovs Token?
Backed by Moonrock Capital and Morningstar Ventures, dotmoovs is a blockchain-based sports mining and mobile competition platform. dotmoovs is also a member of the Blockchain Game Alliance. Users can compete with others around the world to earn MOOV token rewards, showing off their skills and challenging each other in various sports.
dotmoovs provides artificial intelligence (AI) guided video arbiters and fraud detection algorithms to monitor practice sessions and oversee challenges between users. This ensures fairness in the outcome of challenges and gives participants confidence, avoiding cheating. What's more, all of this can be achieved simply by anyone with a camera smartphone!
The aim of dotmoovs is to “democratize access to sporting challenges”, allowing anyone in the world to compete in an environment free from monetary value constraints, geographic limitations and lack of skill assessment opportunities. By leveling the playing field and lowering the barrier to entry, dotmoovs provide a fair platform for athletes. dotmoovs allows athletes to show their skills and earn non-fungible token (NFT) rewards in the process.
The gamification of the platform allows users to bet on their performances against other athletes with the MOOV token. In addition, dotmoovs features an AI-driven skill arbitration mechanism. This provides an unbiased overview of performances in many different sports.
For those looking to take their game to the next level, the “match” feature allows users to challenge friends or users with a similar skill level. Winners earn MOOV tokens that can be freely traded in fiat currencies or other currencies. For promising athletes, this is a great way to earn passive income with encryption and get the most out of training and drills.
Artificial Intelligence
Artificial Intelligence has developed to a state never seen before, where we can leverage existing technology and algorithms to solve new problems; our smartphones have amazing cameras and are now also being equipped with LiDAR sensors, which allows depth understanding (for future development); and computer vision has recently made it possible to very accurately detect human bodies and their placement.
Competing remotely has never been more necessary. COVID-19 stopped several competitions and people are already engaging and competing with other athletes through videos uploaded by Whatsapp. The current pandemic has increased the need for people to challenge others from a distance through digital-enabled products.
Why use Blockchain in the sports industry?
Blockchain technology is best known for the impact it has had on the financial industry. However, the blockchain is being rolled out across the industry! Blockchain use in the sports industry is no exception, reimagining the fan experience.
There are several use cases for blockchain in the sports industry that benefit players, fans as well as management teams and venues alike. For example, counterfeit tickets and merchandise will soon be a thing of the past! Thanks to the introduction of the blockchain, goods, tickets and even experiences can be converted to tokens and then immutably and publicly stored in a blockchain. Additionally, this can help maintain transparency of ownership of any rare limited-edition merchandise.
Furthermore, the blockchain in the sports industry can benefit players and athletes! All profiles and sports information can be stored immutably in the blockchain. This includes bio measurements, scorecards, medical history, contract terms and agreements. This not only provides a layer of security with the inability to change data, it also makes transfers between teams and clubs much more efficient.
All relevant data required can be accessed from distributed parties involved in real time. Additionally, players' financial and data transactions will take seconds; not weeks or months. All of this can be done without the need for coordination from several third parties.
Another use case for blockchain in sports is for betting and gaming. Blockchain takes this to a whole new level for participants. Sports betting can now be placed peer-to-peer thanks to the use of smart contracts.
This drastically reduces fees and eliminates the need for a traditional broker. Additionally, blockchain-based games allow fans and gamers to earn passive income from decentralized finance (DeFi) and gaming. Users can actually own in-game digital assets such as non-fungible tokens (NFTs). Additionally, fans can earn encryption when betting on an athlete's performance.
How does Dotmoovs (MOOV) Token work?
Play anywhere, without friction, in highly competitive challenges.
- challenge anyone – Compete in your favorite sport. Bet on your performance with $MOOV if liquid cryptocurrencies.
- Anti Cheating – Secure platforms with fraud detection algorithms to ensure fairness. Access to winning party videos for complete confidence in the results.
- Matchmaking – Challenge your friends or play against players with similar skills to bet. Winner earns $MOOV convertible into fiat currencies. With more tokens, you can level up to unlock higher leagues with higher stakes.
- Arbitration Mechanism – AI-driven skill refereeing, with an unbiased view of performance in any supported sport.
About the Dotmoovs Project
Through reliable and fair competition, athletes improve their performance and hone their skills in sport. dotmoovs is democratizing sports by addressing issues that limit competition.
1. Physical and Geographical Limitations
In many sports, the physical separation and intrinsic characteristics of the game make it impractical for players to engage, compete and improve. During the COVID-19 pandemic, most freestyle events were canceled, making it difficult for these athletes to progress.
With dotmoovs, athletes can create their worldwide network and compete as if they were in the same place.
2. Monetization
Freestyle athletes fight hard to recoup the investment made in equipment and competitions.
Limited options to monetize your time and skill rely on prizes and sponsors in highly competitive tournaments.
In dotmoovs, athletes can sponsor themselves and monetize their passion every day.
3. Skill Assessment
Current methods for measuring player skill and performance depend on outdated approaches, expensive and complex hardware, or simply don't exist. In many games, there is no simple, global way to objectively track a player's skill, which is a challenge for players and sponsors.
At dotmoovs athletes only need the smartphone camera and our anti-fraud mechanism.
Sports Mining
After the success of fan engagement platforms like Chiliz, Revv and Animoca Brands, the blockchain in the sports industry has had many iterations. However, the dotmoovs platform has created a unique experience that allows users to earn cryptocurrencies playing their favorite sport and participating in challenges and tournaments in what is known as “sports mining”.
Currently, there are many problems in the sports industry that inhibit competition. For example, two athletes in different parts of the world would normally struggle to compete in a way that accurately measures their performance. Furthermore, many of the methods used to measure an athlete's ability rely on outdated models, while many are absent in some regions. Also, in times of crisis, many freestyle sporting events are cancelled. This can seriously impede progress in the development of athletes and players.
Through sports mining, dotmoovs are democratizing the world of sports by directly addressing these issues. This is achieved through a set of innovative features, including:
- Advanced algorithms adapted to specific sports.
- An arbitration mechanism that can detect body movements and limb positions.
- A scoring algorithm that measures an athlete's ability.
- Peer-to-peer challenges that can be used to monetize training with non-fungible tokens (NFTs).
- A tamper-proof rating and reward system.
Matches and tournaments
Participants can decide the rules of the game, the players involved and the value at stake. Alternatively, players can use the matchmaking feature to allow the dotmoovs to do the legwork for them by selecting a suitable competitor. Game modes include Party, Teams, Solo and Pro-Seasons. In these games, winners claim the full prize minus an event organization fee. Additionally, users can filter leagues based on skill to ensure a healthy level of competition. In addition, non-fungible token (NFT) collectibles are awarded to the highest ranked players. These NFTs can be sold in an NFT marketplace such as OpenSea, Rarible or Nifty Gateway.
If you want to learn more about NFT Marketplaces, be sure to save our Ultimate Guide to NFT Marketplaces 2021 article for later!
MOOV Token
The native MOOV token is used across the platform to pay setup fees and reward players. Players can earn MOOV tokens in sports mining games and challenges. Regardless of the outcome, all participants in the tournament or match earn MOOV token rewards for their efforts. In addition, the MOOV token is used to fund MOOV Reward Pools, NFT Reward Pools and for the ongoing development of the platform. Additionally, users can wager MOOV tokens to win non-fungible tokens (NFTs) or more MOOV!
The MOOV ERC-20 token was released in May 2021. Of the total distribution of MOOV tokens, 32% were sold in public and private sales. During the private round, the MOOV token was sold for $0,003 and during the public round the price was $0,004 per token. After these sales, the MOOV token was listed in the Uniswap decentralized exchange (DEX) at a price of $0,005 per token.
At the time of this writing, the MOOV token cost approximately $0,01. Of the total token distribution, 24% was allocated to the dotmoovs Liquidity Fund, with another 24% allocated to ecosystem growth, marketing and partnerships. In addition, the dotmoovs team received 10% of the total token distribution, with the remaining 10% going to the dotmoovs Foundational Reserve.
Token Information
- Current supply: 247.983.988
- Total Supply: 1.000.000.000
MOOV Token Price Statistics
- Maximum value: US$ 0,091905 -0.8% – Aug 29, 2021 (approximately 11 hours)
- Minimum value: US$ 0,00323258 2721.4% – Jul 20, 2021 (approximately 1 month)
Representing dotmoovs in the world
Luis Figo
Luís Figo is a renowned football legend. Recognized in 2001 as the best player in the world, he is considered one of the greatest football players of his generation.
At dotmoovs, Figo will compete in the branding area, representing the company as one of its ambassadors.
Ricardo Quaresma
Ricardo Quaresma is an international football star. His signature tricks, including the tail and trivela, made him a popular figure with fans around the world.
At dotmoovs , Quaresma will represent the company as one of its ambassadors and will help the company grow.
dotmoovs and MOOV token summary
Assessing an athlete's ability or performance can be difficult. Both because of the expensive equipment needed and the lack of infrastructure in many parts of the world. Additionally, it can be challenging to recoup the investment required by athletes who want to be on top of the game. dotmoovs aims to solve these problems by allowing athletes to create a global network to compete. All that's needed is a smartphone with a camera, and players can sponsor themselves to monetize their favorite sports.
With the integration of Binance Smart Chain (BSC) and the support of international football legends Luís Figo and Ricardo Quaresma, the dotmoovs platform and MOOV token look set to make the most of the blockchain's growing popularity in the sports industry. Sport mining offers a fair platform for athletes to participate in highly competitive challenges, regardless of geography, access to equipment or availability of infrastructure. In addition, the dotmoovs platform is providing a new audience with exposure to blockchain and cryptocurrency.
The integration of blockchain technology into the sports industry brings with it many advantages. The use of tokenization and immutable transparent transactions can be applied in a variety of other industries. This includes art, insurance, fashion, music and the energy sector!
