UFFS State of the Union Update Feb 22, 2023

Hello everyone.

As we continue to weather the storm in the crypto markets there seems to be a clear ray of hope emerging. We see the markets cautiously turning and it is now time to ramp up the project in preparation to ride the wave back up.

We are proud to say that we are one of the projects that has been able to ride out this harsh bear market as many of our fellow blockchain innovators have fallen victim to the harsh market swings as well as the constant negative press that seems to be put against our space. The fact remains that blockchain and digital currencies are the future of most industries and most certainly the financial world.

Reflecting on our now 3.5 year journey we acknowledge errors have been made and in hindsight we would do a lot of things differently. With that said, this is often the case when projects try to innovate and disrupt a market. A lot has changed since we began and we attempted to evolve with the conditions around us.

We have slowed our development and have been in survival mode now for the last 8 months. We would like to acknowledge all our investors, GM’s and scouts that have stuck with the platform and continue to be a part of the solution going forward.

We have taken the time to reflect on who we are as a platform and what it is we plan to achieve as we continue to build our ecosystem.

1. First and foremost we are an NFT, blockchain crypto project. This is our innovation and will always be what differentiates us from other players in the space.
2. We view all our owners and scouts as fellow investors. Some of us invested when the platform started and took a large risk that paid off. Others bought in at the top of our success and have only seen a downside. Where we sit now seems to be a bottom for our project and crypto in general. Now is a time to invest and or hold to take advantage of an upswing. Yes there is risk, but it would seem to be less of a risk than our OG’s who bought teams in hockey for $150 USD and sold for 10’s of thousands. Point being, we are a digital asset ecosystem and a part of our game is buying low selling high, not just fantasy, and UFFS is proud that we have brought the beginnings of Web 3 to the fantasy sports space.
3. Web 3 is the ultimate goal of UFFS. Fantasy has evolved from newspapers and notepads to web 2 innovations like ESPN, Fantrax and DraftKings that provided interfaces that made calculating and moving funds easy. It’s now time to move fantasy to the Web 3. Web 3 now allows you to own your assets and your achievements. Ownership brings in all new game play components like asset appreciation, investment strategies, buying and selling, passive income and much more. These innovations are what will give team owners the true feeling of what it’s like running a professional organization. This has always been the vision of UFFS.

Franchise Revenue streams

To touch quickly on the passive income that we mention above. The NFT daily fantasy platform is in its final stages of development. This launch has been delayed over the last few quarters due to funding restraints but also it didn’t seem wise to launch a new NFT game at the bottom of a bear market in both crypto and NFTs. That said as we roll out these games, a new revenue stream will be implemented for franchises in each sport.

The UFFS gameplay engine will be completed in the next stage of development. We are implementing many innovative twists to how you can play fantasy and as we roll this out for the public to use, the revenue generated will be shared with our franchises.

A franchise NFT staking protocol is being finalized as mentioned last year. The slow down in development has delayed this aspect, however, this is planned to be rolled out in 2023.

SCO

One of the main elements that will be key in reigniting interest in the UFFS platform will be the value of the SCO token. As we have realised that crypto and NFTs are UFFS’s greatest advantage over other fantasy platforms, the value of SCO, liquidity, and usage will be a renewed focus. The following strategies will be implemented over the coming months to support and increase the token value:

1. A token burning mechanism will be implemented to bring the circulating supply down to 80 million total supply or lower if the team feels it is warranted. This will instantly support the token price as there are simply less tokens available. Details on how the burning will work to be released shortly.
2. A swap is being built on the UFFS platform that will enable users to swap their Zilliqa SCO tokens to CUDOS SCO tokens and back. This means we will have tokens on both chains at all times, which will increase the exposure of SCO but will also dilute the number of tokens readily available for use in the gameplay. cSCO tokens will be the tokens for gameplay by Q2 2023, zSCO will simply be an investment token on the Zilliqa chain.
3. SCO lock up strategies and new use cases will be rolled out in Q2, the goal is to add more utility to the token as well as put more pressure on the supply available for sale.
4. A SCO/CUDOS pairing will be established on Osmosis Frontier in Q2. This will enable our SCO holders to provide liquidity on both ZilSwap and Osmosis. This will be a way for holders to be rewarded for participating in the rejuvenation of SCO and the UFFS platform.
5. Once the value of SCO has surpassed the current $0.01 peg, the peg will be removed and SCO will have its full cryptocurrency functions returned.

CUDOS

We have secured our grant from the CUDOS foundation, the funds of which will be used to implement their blockchain, computing, and the new cSCO token to the UFFS ecosystem.

UFFS investors operate a node on the CUDOS chain and we continue to be committed to the CUDOS project, their team and vision. We strongly believe that the COSMOS network and IBC chains are the future of blockchain and as a result we are very happy with the commitment for CUDOS.

CUDOS has also agreed to assist with funding for the launch of the UFFS VR-1 Racing crypto marketing platform. The first races will be run by Venus Protocol in conjunction with Binance Smart Chain. This group has also committed funding to this initiative. This puts UFFS beside some of the biggest names in the crypto space and we intend to work with these groups and many others to grow the concept of marketing through fantasy sports, NFT assets, and e-gaming.

VR-1 Racing

Not to sound like a broken record but with the state of the market and the FTX scandal the progress of VR-1 has been slow. Venus/Binance are the driving forces behind the future of this program and they are now ready to invest both time and funds to get it off the ground.

We feel this is very significant not only because of the exposure these powerhouses bring, but displaying the marketing power of fantasy and e-sports will lead into crypto projects investing in our current leagues. This will take time but that is the angle we are taking with the implementation of VR-1.

Investment

UFFS is currently accepting offers for a partner to assume ownership of the platform and inject capital to complete the gameplay engine and implement a global marketing strategy. We are currently in negotiations with multiple groups.

Interest in a blockchain project has been low for the reasons we are all aware of, however with the market turn, renewed confidence is entering our space and our options are growing.

Additions to the Team

As things ramp back up for the platform it is important that we have the people in place to take advantage of this upswing. My focus needs to be on partnerships, platform growth and securing ongoing funding. As a result we are pleased to announce that Ross Mongrue has stepped into a new role on the management team. An official announcement will be released soon.

We have also acknowledged the need to have full time commissioners in every league. We have had platform members step up in each league in interim positions until the coming revenue streams have matured.

We are very happy to announce that Michael and Nicholas Pagano from the Doom organization have been chosen as interim commissioners of the UFAFL. Their efforts will be focused on adding professionalism to the operation of the UFAFL and improving the overall communication and structure.

We are speaking with platform members about running the other two football leagues and we will have announcements shortly.

Hockey UFHL, UFAHL and UFWJ — Andrea Charanduk

UFBA — Alex Leblanc

UFWBA — Kevin Lewis

UFLB — Sho Alli

AFLL- To be announced

UFAFL — Michael and Nicholas Pagano

UCFFL- To be announced

As we move out of survival mode and kick start a new era of UFFS we want to acknowledge everyone that has stuck with the platform as we weathered a storm; your commitment is very much appreciated. We are working hard to continue to position UFFS as a leader in the coming Web 3 fantasy world. We may have been early to market and struggled to find our place, but we are now positioned to bring NFT assets and the power of Web 3 to fantasy and overall blockchain space.

Kind Regards,

Tony Charanduk

uffsports.com