Today we are excited to unveil BlackPool: a new fund operating within the non-fungible tokens (NFT) space: from sports cards to game items to digital art. We share a conviction in the long term value of scarce digital assets, but understand that a high level of specialisation in each NFT platform is required to maximise value creation.
BlackPool exists to finance active specialist pools of capital managed by engaged individuals on a selection of growing NFT platforms including, but not limited to:
- A Sorare team competing in the SO5 fantasy league
- A set of Axies playing to earn SLPs in Axie Infinity’s game arena
- A set of Decentraland parcels fully built out to generate throughput
- An actively managed collection of digital art on SuperRare
Starting with Sorare, the leading blockchain footfall fantasy game, BlackPool aims to become a leading provider of financial derivatives in digital asset marketplaces, including asset valuation indexes, insurance mechanisms and actively managed strategies.
BlackPool is built by members of Stake Capital, Fabric Ventures and Stake DAO (Disclaimer: Fabric Ventures and Julien Bouteloup are investors in Sorare, and Fabric Ventures & Stake Capital are investors in Decentraland — neither of these positions provide insider information on the value of their digital assets that BlackPool could unfairly benefit from).
Operations in Sorare
BlackPool combines our passion and knowledge of football with data drive / quantitative trading methods to accrue value and generate cash flows through a selection of managed strategies:
- Building a selection of star players to compete in SO5 tournaments to generate bi-weekly ETH & card based rewards, as well as capture the long term value increase of Sorare cards.
- Taking arbitrage opportunities between primary and secondary markets.
- Buying and selling cards based on player news.
- Scouting young talent and buying cards early.
As of the end of November 2020, BlackPool has officially launched by financing the Sorare account of maxmersch: a robust collection of around 350 football player cards valued at around $185,000 / 310 ETH by SorareData, including what is arguably the single most collectible asset in Sorare: the Unique card of Kylian Mbappé (currently the world’s most expensive football player).
Stemming from DeFi origins, BlackPool’s long term goal is to provide democratised access to the scarcest non-fungible assets, that users might individually not be able to buy themselves, but would love to own a fraction of. While BlackPool is currently purely financed by internal capital, the aim will be to open up an allocation of the fund to liquidity providers in the future.
Blackpool is aiming to decentralise its current operation through a DAO mechanism, where access and activity of BlackPools’ non-fungible assets will be decided via the BlackPool DAO. New features will be announced in the coming weeks that will help us progress toward this goal.
Transparency & Fair Play
BlackPool commits to a high level of transparency on the capital flows that happen on-chain and will always keep a clear record of NFT platforms / managed pools it finances.
BlackPool will disclose existing investments in underlying NFT platforms where they might overlap with our strategies.
While the digital assets BlackPool holds are always fully permissionless, BlackPool abides to the rules of each NFT platform when it comes to the usage of these digital assets — i.e. on Sorare, BlackPool is financing a natural person that has full discretion over the management of their collection, and BlackPool will not engage with multiple accounts that compete in SO5 tournaments.
Questions, ideas or reflections?
We’d love to hear more over chat: https://t.me/BlackpoolHQ