The American SportZ Exchange (ASX) has announced a distribution agreement for its social gaming product with 4Tune Entertainment Group.
The deal will reach out to sports gaming markets in North America and has the potential to reach over 90 million digital users in the USA.
Paddy Power, son of founder David Power, is behind the new sports betting company ASX.
The start-up is dubbed to be the “world’s first sports trading exchange,” offering users with share prices of individual players and teams based on performances.
The platform allows consumers to buy or sell shares based on what player or team they believe will perform well, thus increasing their share price and allowing users to profit.
Paddy Power says he has already entered into discussions with several American sports teams and broadcasters, including the Philadelphia Phillies and Toronto Blue Jays, as well as video streaming companies like DAZN and Rogers Sports & Media.
“ASX and 4Tune are exploring several application models, which include a standalone exchange for fans and a white-label solution for major sports teams or media operators,” Power said. “There are opportunities for teams and clubs to own their fans’ engagement in this type of activity.”
Pending completion of ASX capitalization, 4Tune expects to launch ASX by the first quarter of 2022.
“The ASX set of products and fan engagement tools has significant appeal for US professional sports teams,” added 4Tune CEO, Robert Miller. “Our strategic sports broadcast partners see ASX as an intuitive extension of fantasy sports with the excitement of a trading marketplace. The ASX team has combined intuitive play using familiar stock exchange transactions with the dynamics of live sporting events and in-stadia play.”
