Fandex Receives US Patent For Fantasy Sports Stock Exchange Platform 

Written By Katarina Vojvodic on November 15, 2022
A different kind of fantasy online gambling gets US patent

Fandex recently received a patent from the US Patent and Trademark Office (USPTO) for its fantasy sports stock exchange platform. The USPTO has granted the fantasy sports platform a US Patent No. 11,436,674.

The US patent will cover critical aspects of Fandex’s fantasy sports team and player stock exchange, “further strengthening the company’s intellectual property.”

The company also develops other contests across various other US online gambling platforms, including FandDuel and SportsGrid.

Labeled as a “game of skill,” Fandex will launch a pay-to-play contest in Europe ahead of this month’s FIFA World Cup Qatar.

As Stu MacDonald Advisory Board Fandex commented:

“We are thrilled about our upcoming World Cup pay-to-play contest with our European betting partner, as well as our regular season and post-season contests and partnerships with FanDuel, Sports Grid, PLZ, and others.”

Fandex patents the first fantasy sports stock exchange

The company states Fandex is the first fantasy sports stock exchange. Created in 2017, it allows fans to buy and sell virtual shares of their favorite teams and players in over 12 sports. The platform is available 24/7.

In a press release issued on Nov. 7, Fandex’s CEO, Matt D’Alessandro said:

“This is a huge moment for us here at Fandex as our team has worked hard since 2017 to create this patented platform and we look forward to speaking with the market leaders in iGaming to discuss licensing and other partnerships.

The patent not only adds to our intellectual property portfolio covering our novel fantasy sports exchange, but it also strengthens our competitive advantage. We have additional patents pending as part of our IP protection strategy, and we will continue our innovation efforts to further enhance our market position and drive revenue growth.”

Fandex is a new type of US online gambling platform

Fandex is the stock exchange platform for teams and individual sports. It allows fans to win cash prizes by trading shares in their account.

Designed by two students, the platform enhances the gaming/gambling experience for leagues, teams, content providers and sports fans. Users can buy, sell and short their favorite teams and athletes, as well as monetize their team and sports interests.

The algorithm evaluates the market price of each team’s share within each major professional league. So, if a team performs well, its market share price will increase and vice versa.

Photo by PlayUSA
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Katarina Vojvodic

Katarina Vojvodic is a lead writer for PlayUSA who lives in Toronto. Vojvodic provides coverage of the US gambling industry with a focus on US online casinos. Previously, she covered Ontario’s online gambling industry for Vojvodic holds a master’s degree in journalism from the University of Belgrade. Outside working hours, she can be found near the water with her husband and their two kids.

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