Fandom Sports Retains Phantom Compliance to Implement Risk Management and Compliance Programs for B2B Licensing and NFT Initiatives

 

 

Fandom Sports Retains Phantom Compliance to Implement Risk Management and Compliance Programs for B2B Licensing and NFT Initiatives  

 

Vancouver, British Columbia –September 1, 2021 – InvestorsHub NewsWire - Fandom Sports Media Corp. (CSE: FDM) (OTCQB: FDMSF) (FRANKFURT: TQ43) ("Fandom Sports" or the "Company"), is pleased to announce that the Company has retained Phantom Compliance to assist the Company in setting up internal controls and structures in support of the Fandom Sports' B2B Malta Critical Gaming Supply License Application and NFT marketplace initiatives.

 

Phantom Compliance is a Calgary, Alberta, Canada based firm providing regulatory compliance consulting services, risk management, fraud prevention, and advisory services to money services businesses, payments firms, virtual asset service providers, NFT businesses, gaming operators and many other clients. The team has a combined 70 + years of experience in bleeding edge payments, e-commerce, and currency technology.

"As we progress in our Malta Gaming license applications, it is incumbent upon the Company to have top- tier internal compliance, risk and player account management policies.  Furthermore, as we await our payment integrations and odds line wagering deployment, the reporting and monitoring capabilities which Phantom Compliance will be advising on will lay a cornerstone in our foundation of efficient and prudent financial risk management," states David Vinokurov, CEO and President of Fandom Sports.
 

As previously announced on June 22, 2021, Fandom Sports commenced development of an NFT marketplace for in-game fan engagement rewards on the Fandom Sports platform.  Fandom Sports is nearing beta testing of the NFT marketplace and is considering several different protocols from which to support its' NFT initiatives.  Phantom Compliance's extensive experience in setting up payment solutions and international corporate governance structures will be critical in ensuring the scalability required by Fandom Sports to ensure seamless payments and compliance with respect to NFT creation, sales and trading on a global platform with unique local requirements.

 

"As recently as August of 2021, according to Dune analytics, a leading NFT marketplace recorded monthly volume  figures of US$3.3bn – approximately 1m ETH representing a 900% growth over the previous month alone.  Many NFT industry participants have been focusing on unique content based NFTs while Fandom Sports is focusing on technological fundamentals that will change the way NFTs are created and distributed as well as unique content driven NFTs.  Our goal is to differentiate ourselves in the NFT space the same way that what we have been able to in Esports with our unique data presentation capabilities from the Company's purpose built APIs," continued Mr. Vinokurov.

 

"Phantom Compliance is proud to partner with Fandom Sports Media Corp. and thrilled to support them in the risk management, compliance, fraud prevention and other areas of their business as they break new ground in the burgeoning Esports and NFT industries. With a unique approach and niche product offering, Fandom Sports is well positioned to leverage their experience, and that of Phantom Compliance, to provide a market leading and compliant service in major markets throughout the world," states Ryan Mueller, CEO of Phantom Compliance.

 

"PLAY. PREDICT. GET REWARDED."

 

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DISCLAIMER:

 

The CSE has not reviewed and does not accept responsibility for the adequacy and accuracy of this information. This news release may contain forward-looking statements. These forward-looking statements do not guarantee future events or performance and should not be relied upon. Actual outcomes may differ materially due to any number of factors and uncertainties, many of which are beyond the Company's control. Some of these risks and uncertainties may be described in the Company's corporate filings (posted at www.sedar.com).

The Company has no intention or obligation to update or revise any forward-looking statements due to new information or events. This press release contains forward-looking statements about FANDOM SPORTS. Forward-looking statements may be identified by the use of words like "believe," "expect," "anticipate," "estimate," "plan," "consider," "project," and similar references to the future. Forward-looking statements reflect FANDOM SPORTS' good-faith evaluation of information available at the time the forward-looking statements were made. These forward-looking statements are subject to a number of risks and uncertainties, and our actual results may differ materially from those projected. Please refer to FANDOM SPORTS' annual and quarterly reports filed on SEDAR for a full discussion of those risks and uncertainties we view as most important. Forward-looking statements are not, and should not be relied upon as, a guarantee of future performance or results, nor will they necessarily prove to be accurate indications of the times at or by which any such performance or results will be achieved. As a result, actual outcomes and results may differ materially from those expressed in forward-looking statements. We undertake no obligation to update or revise forward-looking statements.

SOURCE FANDOM SPORTS