Paid Entry Contest Hosting
Allowing Users to create paid entry contests and earn rewards without having to create any of the code or operations for running a whole Fantasy Sports operation
Last updated
Allowing Users to create paid entry contests and earn rewards without having to create any of the code or operations for running a whole Fantasy Sports operation
Last updated
Have you ever wanted to organize a daily Fantasy Sports contest and also reap some of the benefits like the platforms? Well... Phantasia allows users to do just that! As apart of the ethos of Web3 that users who utilize the platform should be rewarded and incentivized - Phantasia allows its users to create contests and share the platform fee's with the contest creators!
For a user to create a contest they must pass the KYC process. Once that is complete - you're on your way to host a contest! The below steps will teach you how to create a contest. You're able to create as many contests as you want. If a paid entry contest doesn't completely fill it will be cancelled and all users will get their entry fees back. The contest will be transitioned into a play to earn contest- meaning it's free to enter and users can still win cryptocurrency!
Navigate to the Phantasia website and login by connecting your wallet. Once you're connected with your wallet - you'll see an option to "Verify for Paid Contests" in the top right corner of the screen. Click on this button which will bring up the KYC modal. The modal will ask you to fill out some simple information about yourself to complete the KYC. If this passes you're then good to create paid entry contests, otherwise it will prompt to you to complete identity verification KYC.
The contest creation flow is broken up into 7 parts to provide the simplest user experience and ensure that all of the correct information is included for the contest.
The first part of the flow is creating the contest name. Creative names can help your community distinguish your contest and also attract other users to join the contest. Additionally pick the sport for the contest currently the sports offered are: NFL, NBA, EPL, and MLB. The last part for this page is picking a salary cap for the contest participants - the default is set to 50k.
Select the type of contest that you want to host for users. The description of contest types can be found here. Once the competition type is selected the prize currency for the entry fee must be selected. Currently the options are FANT or USDC (SPL) that users can utilize to enter into the contest with. Once you select the currency select the entry fee that users will need for admittance into the contest.
If you have a brand logo or other pictures that you want to utilize for showing off the contest you're creating you as the creator can enter an image. This step is optional and isn't required - if you dont enter a image the default image will be displayed
Choose the amount of participants that can join the contest. This is important because you're not able to edit this number and the contest needs to fill. If the contest doesn't fill it will be cancelled and turned into a free contest with the ability for users to still earn cryptocurrency.
This step is selecting which games that the contest will have. You can select the full set of games for any match day or a subset of games for the contest. The games are only shown for a few days out as the player data isn't available very far in advance.
This step is setting the visibility of the contest. For contests that you want anyone to join select the "public". If you want your contest to be private the options are: setting up a whitelist of usernames who can see and join the contest and gating by an NFT. For the NFT gating you must have the NFT in your wallet and it must be a Solana NFT collection. Only users who have an NFT from this collection will be able to see and join these contests.
This step is to review that all of the information that you have inputted for the rules of the contest are correct. Once you create a contest you're not allowed to edit most of the settings - you're only able to change the whitelist information.
During the review step you're able to navigate to previous steps and make changes
Once you're ready to create this contest select "Create New Contest". This will bring up your wallet which is required to pay for the Solana rent fee (You need to have the rent fee SOL in your wallet otherwise the transaction will fail). The data from this contest is stored on-chain therefore the contest creator is required to pay rent fee for creating the contest and storing that data. Once the contest is over the rent fee which was used to store this contest will be returned to your wallet
Congrats you have created a contest 🎉
