Fandom
Sports Secures Exclusive Use Rights for
DataBioniX™
Platform
for Esports, Sports and Programmed Streaming
Vancouver, British Columbia -
May 20,
2021 -- InvestorsHub NewsWire -- FANDOM SPORTS Media Corp.
(CSE: FDM) (OTCQB:
FDMSF) (FRANKFURT: TQ43) ("Fandom Sports" or
the "Company"), is pleased to announce that it has
entered into a
definitive
license
agreement with
Intellect
Dynamics
for Intellect Dynamics'
DataBioniX™
platform
(the "License").
The
license agreement provides for the exclusive use by the Company of
the DataBioniX™
platform
for wagering and predictions and is
a
critical
component
of the Company's Unified Information Access ("UIA")
platform
and its application to Esports, Sports and Streamed
content.
Exclusive License for DataBioniX™ Platform
As previously announced on August 4, 2020, the Company entered into
a Letter of Intent (the "LOI") with Intellect
Dynamics,
an
award-winning
firm specializing in the development of technology solutions
and services focusing on real-time analytics , artificial
intelligence, business process automation and decision
support. The LOI originally envisioned a single use,
non-exclusive license for deployment
for
Esports wagering and predictions.
Since
that time,
Fandom Sports'
management
has
secured
the exclusive rights to use the UIA platform for deployment
for:
-Esports wagering and predictions
-Sports wagering and predictions
-Programmed television and streaming
According to the Gambling Global Market report 2021: Covid-19
Impact and Recovery to 2030,
the
global gambling market is expected to grow from $465.76
billion in
2020 to $516.03
billion in
2021 at a compound annual growth rate (CAGR) of 10.8%. The market
is expected to reach $674.7
billion in
2025 at a CAGR of 7%.
Fandom Sports is now positioned to enter into this lucrative market
as
a
market participant
and technology
provider to change the way that data is presented and transacted
upon in this multi-hundred-billion-dollar
industry.
"After connecting our APIs to the top game publishers, we quickly
saw a differentiating advantage emerge relative to our peers in
the
number
of predictions/wagers we could generate, the dynamic statistical
system reconciliation,
the modular applications of various data presentations, and the
deep analytics which we could use for intelligent analysis.
Through the course of product demonstrations to
3rd
party vendors and industry participants
across both Esports and Sports wagering,
the conversation always steered towards the inevitable—How
can we apply
these
capabilities to our
business,
and can we get a license?
I'm
proud to say that Fandom Sports is now in the position to be a
solutions provider
to Esports, Gaming, Sports,
and Streaming
industries for predictive data capabilities. We are excited
to put the cornerstones in place for the long-term success
of
our business together with our friends and partners
at
Intellect Dynamics."
states
David Vinokurov, CEO and President Fandoms Sports Media.
Christian Gravel, CEO of Intellect Dynamics and Chief Strategy
Officer
("CSO")
of Fandom Sports continues, "This is the first time that Intellect
Dynamics has granted an exclusive
use industry license
for the
DatabioniXTM
platform.
Our experience in health care, facilities management, supply chain
logistics, insurance and telecom deployments has shown us the
impact that the
DatabioniXTM
platform has had on mission critical,
data intensive and
security focused industries. We are eager to make a
transformative impact across the industries covered under the terms
of this agreement with Fandom Sports. Furthermore, we are
thrilled to be able to share and participate in the success of
Fandom Sports,
both as
active
management and shareholders of the Company."
"We are fortunate to have Intellect Dynamics
as a cornerstone investor and to have all
of
our
long-term
interests aligned. Having recently completed installation of
our own server infrastructure, securing the IP has been our next
critical item of business in advance of the launch of our wagering
and all-ages
Esports
prediction
platforms. Most importantly,
we can commence development of interfaces that will expand our
reach beyond professional
Esports
to streamed and broadcasted gaming and sports content. I'm
very proud to say that Fandom Sports is a
unique
platform in the industries it operates and will operate
in.
We're even more excited to deploy the innovative NFT rewards
solution that our development team is working on.
What you see now is just the tip of the iceberg and
we have a
robust development pipeline that continues to evolve and
grow,"
continued David Vinokurov.
An interview has been posted to the Company's
youtube
page where David Vinokurov, elaborates on the License
agreement. The interview can be viewed
at :
https://www.youtube.com/watch?v=70trwBOcQ2k
Share Issuances
Under the terms of the License, Fandom Sports has the option to pay
licensing fees and maintenance and support costs to ID in cash or
through the issuance of common shares based on a price of $0.30 per
share or the
20 day
weighted average trading price of the common shares of Fandom
Sports for the period leading up to the due date for such
payment. Initial payments of $1,375,000
due to Intellect Dynamics under the License will be paid through
the issuance of 4,583,333
common shares at a price of $0.30 per share, which is a premium to
the close of trading on May 19, 2021.
Shares issuable under the License will be subject to resale
restrictions under applicable securities laws as well as any
required stock exchange or securities regulatory consents or
approvals.
"PLAY.
PREDICT. GET REWARDED."
About Fandom Sports
Fandom Sports Media is developing and deploying a web application
which instantly operates on Android and iOS mobile devices
targeting Esports Super Fans. The Company's Unified Information
Access platform is active in a private cloud with multilingual
support and is targeted towards a global launch of the Fandom's
regulated betting and unregulated Esports prediction fan engagement
models. Fandom supplies interactive Esports entertainment to Super
Fans through purpose-built data interaction.
For
additional Information:
Investor
Relations
Email:
info@fandomesports.com
Phone +1
(604) 256 6990
DISCLAIMER:
The CSE has not reviewed and does not accept responsibility for the
adequacy and accuracy of this information. This news release may
contain forward-looking statements. These forward-looking
statements do not guarantee future events or performance and should
not be relied upon. Actual outcomes may differ materially due to
any number of factors and uncertainties, many of which are beyond
the Company's control. Some of these risks and uncertainties may be
described in the Company's corporate filings (posted at
www.sedar.com).
The Company has no intention or obligation to update or revise any
forward-looking statements due to new information or events. This
press release contains forward-looking statements about FANDOM
SPORTS. Forward-looking statements may be identified by the use of
words like "believe," "expect," "anticipate," "estimate," "plan,"
"consider," "project," and similar references to the future.
Forward-looking statements reflect FANDOM SPORTS' good-faith
evaluation of information available at the time the forward-looking
statements were made. These forward-looking statements are subject
to a number of risks and uncertainties, and our actual results may
differ materially from those projected. Please refer to FANDOM
SPORTS' annual and quarterly reports filed on SEDAR for a full
discussion of those risks and uncertainties we view as most
important. Forward-looking statements are not, and should not be
relied upon as, a guarantee of future performance or results, nor
will they necessarily prove to be accurate indications of the times
at or by which any such performance or results will be achieved. As
a result, actual outcomes and results may differ materially from
those expressed in forward-looking statements. We undertake no
obligation to update or revise forward-looking
statements.
SOURCE
FANDOM SPORTS###
