Apex146’s creator, Scott Robinson, discovered new prospects for his sports analytics platform by using blockchain technology.
Scott Robinson founded a sports analytics platform using skills acquired while working on trading methods, technology, data science, and personal interest in motorcycle racing. With a dash of blockchain thrown in, Apex146’s creator discovered new avenues for growth in the sports analytics market.
Robinson created an internship programme for 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 assistance of students.
Robinson developed sports performance analytics for motorcycle racing by using concepts he learned while working in capital markets and commodities trading at McKinsey & Company and Oliver Wyman.
According to Robinson, they utilised “proprietary statistical approaches to achieve comparable results to those obtained via baseball’s ‘Moneyball’ theory.” Following that, the team grew and received financing through a Series A in 2020, while also enhancing its athlete performance indexing capabilities.
Fast forward to the current day, when Robinson saw blockchain being used for sports betting and recognised the potential for market penetration through this developing technology. “We believed that two blockchain-based sports betting platforms had a serious chance of infiltrating the industry and that other platforms would follow over the following few years,” Robinson explains.
As a result, the team built a blockchain oracle through Chainlink that enables decentralised apps (DApps) to access Apex146’s sports analytics data. This enables developers to establish sports prediction markets utilising on-chain analytics data and statistics that drive dynamic interactions inside DApps.
Apart from that, he jumped on the nonfungible token bandwagon by selling sports collections for leisure reasons.
Meanwhile, venture capital firms have realised the potential of cryptocurrency and blockchain businesses. According to a recent KPMG fintech study, the sector has attracted over $30 billion in investment over the last year, demonstrating that blockchain technology plays a critical role in the global financial ecosystem.