Fandex has received a patent from the USPTO for the company’s fantasy sports stock exchange platform. The US patent will cover “key aspects of our fantasy sports team and player stock exchange, further strengthening the company's intellectual property,” according to the company’s official release.
Fandex CEO Matt D'Alessandro described this accomplishment as a “huge moment” and said creating the platform took several years to complete.
He commented: "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 Advisory Board Member Stu MacDonald said the company is excited several contests and partnerships taking place later this year.
MacDonald said: "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 has been available to fantasy gamers since 2017. It offers fantasy sports fans a place to buy and sell virtual shares through its online stock exchange. Fans can use the exchange anytime and have access to teams and players in more than 12 sports.
