UFFS State of the Union Update Nov 29th 2022
With 2022 wrapping up, I would like to give the community an update on UFFS. We have been working to implement various changes and partnerships to improve the platform and ensure that UFFS survives the current crypto downturn but also position us for success as markets recover.
Score token has had a challenging 2022, and the price drop this spring/summer has brought many challenges. We needed to pull the UFFS liquidity and peg SCO to $0.01 in the gameplay to stabilize the platform and assess the way forward.
Since that time we have reviewed many possible structures for SCO. We are pleased to announce that we have secured a grant from the CUDOS foundation to assist in the cost of moving SCO and all UFFS NFTs to the CUDOS blockchain.
What does this mean for SCO? With this development, SCO will be relaunched on the CUDOS blockchain Feb 01, 2023. This will unpeg SCO on the platform from $0.01 to a market price. If the price on the Zilliqa network exceeds the peg price between now and Feb 01 we will execute an early unpeg. If not, the price on the platform will remain pegged.
With the relaunch, the tokenomics are being reworked to best position UFFS, Owners, Scouts, and asset holders to succeed after the relaunch. Details are being finalized on what the new cSCO (c for Cudos) will look like. The one certainty is that no one will lose any tokens and your zSCO (z for Zilliqa) will be fully convertible to the new cSCO.
Once launched on the CUDOS chain SCO will be easily transferred out for other tokens or FIAT currency.
A big thank you to the CUDOS Foundation for assisting us in this transition and helping us bring new life to Score Token.
- The first season is complete! Congrats to the Wheat Sox for winning both the regular season and the UFLB playoffs! They are the first team in any sport to achieve this accomplishment.
- We are currently looking for a new league commissioner, please contact us if you’re interested in this role or any supporting roles.
- Once the new commissioner is in place, off season meetings will be scheduled.
- UFAFL season is in full swing. We have added the weekly dashboards for everyone to get a quick glance at the league.
- Version 1 of the NFT DFS platform is being finalized and we hope to have a beta version out before the end of this year.
- UCFFL college football playoffs are underway with week one complete. The playoffs resume as the bowl games start in December.
- It’s been a great year with ups and downs but overall with this league being a brand new concept it’s definitely been a great success overall.
- The UFBA season is progressing nicely with some great competition at the top of the league.
- We have also introduced a regular dashboard to give a quick summary of the results.
- We are also taking applications for potential league commissioners. The UFFS team is currently operating the league but any assistance is always welcome.
- Our first women’s basketball season is in the books with the Bull City Blazers winning it all. Congratulations to the team owner, WNBA star Sylvia Crawley.
- The 4th season of UFFS’ first ever league, the UFHL, is well underway.
- We are very happy to be launching the first season for the UFAHL (AHL equivalent). This has been a long time coming but it’s finally here. The hockey crew, led by Andrea Charanduk, have put in a ton of work to make this a reality and it’s very much appreciated.
- The world juniors of hockey are here again and a new tournament will be starting at the end of December.
- As we know, the UFFS platform is looking for fresh capital to take our concept and platform to the next level. We are in talks with many groups that are interested in web3 fantasy, and we hope to have a new shareholder early in 2023.
- Secured funding will be used to finish development of our NFT marketplace games, complete the UFFS gameplay engine (replacing fantrax and MFL), and to launch a high level marketing campaign.
- We believe that we offer a new Web3 version of fantasy sports that no one else has, below is a very simple explanation of what web2 fantasy is compared to web3.
The UFFS ecosystem is moving forward, despite the current market conditions. I would like to extend a big thank you to everyone that has reached out and offered support and encouragement, it really means a lot. UFFS is committed to growing the platform and completing the tech builds necessary to make everyone involved successful.