Apex146’s founder, Scott Robinson, discovered new possibilities for his sports analytics platform by using blockchain technology.
Scott Robinson founded a sports analytics platform after gaining experience in trading methods, technology, data science, and a personal passion for motorcycle racing. Apex146’s founder discovered new ways to continue in the sports analytics market by incorporating blockchain into the mix.
Robinson created an internship programme offered to a professor at the University of California, Santa Barbara, as a passion project. He established a system for analysing athlete performance in Grand Prix motorcycle racing with the help of students.
Robinson developed sports performance analytics for motorcycle racing using skills he learned while working in capital markets and commodity trading at McKinsey & Company and Oliver Wyman.
They used “proprietary statistical approaches to achieve comparable outcomes as was done utilising the ‘Moneyball’ theory in baseball,” according to Robinson. After some time, the company grew and raised financing via a Series A in 2020, as well as improving its athlete performance indexing capabilities.
Fast forward to today, when Robinson noticed blockchain being used in sports betting, he recognised the potential for conquering the market with this new technology. “We thought there were two blockchain-based sports betting systems that had a real potential of penetrating the market, and we thought there will be more in the coming years,” Robinson adds.
As a result, the team built a blockchain oracle called Chainlink that allows decentralised apps (DApps) to access Apex146’s sports analytics data. Developers can use this to establish sports prediction markets based on on-chain analytics data and statistics that would spark dynamic interactions within DApps.
Aside from that, he jumped on the nonfungible token bandwagon by selling sports collections for enjoyment.
Meanwhile, venture capitalists have noticed the potential of the cryptocurrency and blockchain businesses. According to a recent KPMG fintech report, over $30 billion in investments have come into the industry in the last year, demonstrating that blockchain has a significant role to play in the global financial ecosystem.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.
