⚽DAT Footballer NFTs
DAT: Digital Athlete Token
Last updated
DAT: Digital Athlete Token
Last updated
Digital Athlete Tokens (DATs) are NFTs that represent the on-pitch performance of individual footballers only and are deployed as smart contracts on the blockchain.
What are DATs?
A Digital Athlete Token (DAT) is an NFT that represents the on-pitch performance of an individual footballer ONLY. Think of it as a smart contract that captures a particular footballer's public sporting data, which the code within the contract then aggregates and deploys on the blockchain as an NFT.
The KiX ecosystem is the only marketplace for purchasing DAT NFT issuance, denominated and priced in the KiX platform token - $KIX.
The issuance of DAT NFTs for each footballer is limited to a maximum of 1 Million, ensuring some degree of exclusivity and meeting the strong demand for exceptional players even as the platform grows substantially.
In addition to the above, DATs follow the ERC1155 standard; which allows for multiple NFTs to share the same price in much the same way as a fungible token. It means that traders can build collections of NFTs in a particular footballer which although uniquely identified all share the same price at any moment in time.
ERC1155 also enables the trader to export NFTs from the ecosystem and store them or use them on other platforms. KiX is a DeX, and self-custody is a core fundamental of the product.
There are multiple reasons for owning DATs, the main one being that as an NFT representing the KiX sporting data aggregation, they are digital collectibles in their own right. However, what truly sets the KiX product apart (its USP) is the varied utility it injects into DATs, making them more than just a simple NFT.
These use cases include but are not limited to:
(i) Swapability
On other platforms, and in the wider NFT domain, there are literally thousands of NFTs for sale, all struggling to find a new home. Once a person has bought an NFT, the ability to swap or trade it can be very difficult! Discussions of the type "I'll give you two of these for one of those" have taken place and painfully negotiated for decades between both children and adults alike.
The KiX product solves this problem in the following way: Similar to DeFi markets like Bancor and Uniswap, where they price tokens in certain pools within their ecosystems via a platform token, KiX takes this one step further. Rather than employing this principle only for certain pools, on the KiX platform, all footballer DAT NFTs are priced in $KIX and have dedicated liquidity pools denominated in the platform token.
Using the above model makes our DAT NFTs highly 'swappable' with each other. Whenever a trader wants to exchange one DAT NFT for another, e.g. swapping an MBappe DAT for a Haaland DAT or directly selling the MBappe DAT, liquidity is always available to enable frictionless NFT swaps - this is a major game changer in the wider world of NFTs!
This level of liquidity is enabled because whenever a trader buys a DAT NFT from our continuous market maker (a bonding curve), the smart contract automatically locks the $KIX spent on the actual transaction into a pool for assured liquidity. This locked liquidity makes the swap easy, as there is always a reliable $KIX price available 24/7 for all the tokens involved in the trade.
This degree of liquidity provision is very rare in NFT marketplaces where typically once you have bought an expensive jpeg you are on your own.
Consequently a utility of DAT NFTs is that they are both collectible and at the same time easily 'swappable' on our 24/7 decentralized exchange, using assured liquidity in $KIX tokens as the medium of exchange.
(ii) Rare NFT Creation
As a form of Play&Earn gamification, traders' activity on the KiX DeX will award them 'studs,' which are points attributed to a footballer NFT.
For instance, if a trader holds Kylian MBappe DATs, they will earn MBappe studs for specific actions. These actions include, but are not limited to:
Buying more MBappe DATs
Winning in our bi-weekly contests using the MBappe DAT
Using our exclusive DAT2DAT swapping feature
It's important to note here that only selling DATs for $KIX will not earn any studs.
The reason for obtaining studs is to convert them into new NFTs for that particular footballer. Using our previous example, once the trader builds up a high enough MBappe stud balance and hits the NFT creation threshold, the trader can convert these studs into a new and rarer MBappe DAT NFT.
These DAT NFTs will function in exactly the same way as the others; however, they will not be easy to earn and will be a public declaration of the traders' achievements on the KiX platform. As an additional feature of the rarer classification DAT NFTs, their images will be specially commissioned pieces of web3 artwork, hopefully designed in conjunction with the community via the DAO. On KiX, we are slightly turning other models on their heads, whereas with us, you need to purchase the common classification of NFTs and can only earn the rarer ones by playing the game. This allows us to decouple the need to sell anything rare and the degree of provenance to be much higher.
(iii) DAT NFT Staking
One of the most enjoyed utilities for NFTs in general is staking. This utility opens up many options for holders of NFTs because the interoperable nature of ERC1155 means that a future and theoretical list of staking opportunities is limitless. To begin with, the DAT NFT staking opportunity that our traders can take advantage of is validator node running.
With a narrative called DePIN, node running is well-established within the crypto industry. DAT holders can stake their NFTs into the 'KiX Node Runner Program', making them eligible to receive validator rewards weighted by their proportion of the overall stake.
(iv) Bi-weekly fantasy contest:
Through a strategic selection of footballers, DAT Holders can choose to enter their NFTs into a fantasy football contest. This contest runs twice a week and the results are based on the on-pitch performance of the footballers represented by DAT NFTs.
As an example, holders of MBappe DATs will be eligible for rewards from the distribution pool if MBappe's on-pitch performance produces a ranked podium position. However, unlike old-school fantasy sports, a trader does not need to select a 'team' to participate in these contests.
With the KiX system, submission is easy and much more straightforward; traders only need to select the DAT NFTs they wish to submit to be eligible for distributions from the contest. This means even if traders own one DAT, they can still participate in the competition; similarly, if traders own DAT NFTs in multiple footballers within their portfolio, they are eligible to submit them all.
Each Game Group will have a rewards pool and its distribution will be based on the top three podium places per Games Group.
Each calendar week has two Game Groups:
Game Group 1 is Monday, Tuesday, Wednesday and Thursday.
Game Group 2 is Friday, Saturday and Sunday.
