Each new transaction that’s added to the block is checked against the previous transactions by other users of the same blockchain. The important part is that once a block is loaded onto the chain, it can’t be changed.So the who, how much and when of each purchase is stored on a “block,” which is then chained onto the previous block. A blockchain is a large database that keeps track of transactions in the form of blocks.The difference is the “non-fungible” part meaning that NFT’s aren’t interchangeable and aren’t equal. An NFT is a piece of data that’s stored on a blockchain, just like cryptocurrency.And, when they “play” each other for money, people can get paid out in the form of cryptocurrency Ether or ultrarare NFT player cards.Fans can use these NFT-based cards to create fantasy football teams, then “play" each other. Essentially, each NFT represents a football player’s card and can be bought and sold between users.
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The company has just finished their Series B funding, raising US$680 million, which brings their total valuation to around US$4.3 billion.Clubs like Real Madrid and Premier League side Liverpool, have all signed up. The company has partnered with 180 football organizations across 36 leagues to have these cards officially licensed and actually represent players all across the world.
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