By PandaSea, the Avalanche-based Web3 sports technology platform, announced on Wednesday the launch of its layer-1 mainnet.
The launch also marked the debut of the company’s sports fandom tokenisation platform, TheSportsExchange, which allows fans to turn their passion into tangible assets.
TheSportsExchange allows sports fans to buy blockchain-based keys tied to real teams, with the digital asset value rising as demand rises.
Each week, a portion of the proceeds from key sales flows into a buyback pool that repurchases keys proportional to team performance, creating constant demand and boosting liquidity. This means price appreciation mirrors the real-world results.
Commenting on the announcement, PandaSea Founder and CEO, Stephen van Zutphen, said in a statement:
“We believe that value creation should equal value participation. Traditional sports markets extract value from fans, while we empower them to own it. This mainnet launch is the first step in a larger mission to build programmable, decentralized markets for all forms of real-world value.”
Avalanche has emerged as one of the leading blockchains for developers looking to build institutional-grade products for real-world asset tokenisation.
Its ability to deliver dedicated throughput, sub-second transaction finality, and customizable execution, while allowing PandaSea to use its native PANDA token for gas fees, is part of the reason why the Web3 sports technology platform chose it.
The PandaSea is powered by the Rollup-as-a-Service and blockchain infrastructure provider, Zeeve’s Cogitus platform, which helped manage the end-to-end deployment of PandaSea Chain.
Zeeve will also be providing continuous, institutional-grade infrastructure management, including low-latency RPC endpoints, 24/7 monitoring, and scalable node orchestration.
Dr. Ravi Chamria, Co-founder & CEO of Zeeve, commented:
“Launching a new asset class demands an enterprise-grade foundation of trust and reliability. We engineered every component of PandaSea’s L1 for the speed, data integrity, and uptime needed to power a real-time, global sports economy.”
TheSportsExchange platform is initially available on an invite-only basis with a public roll-out scheduled for October.
PANDA tokens will be airdropped proportionally to team performance to users who meet the minimum criteria.
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