Avatar Ventures Corp. signed a memorandum of understanding with Vauntke Inc, which operates the fantasy sports game provider Fantrax.com. Although the memorandum is nonbinding it does signal the intention of a share exchange so that Fantrax.com wold be become a wholly owned subsidiary of Avatar Ventures Corp.
Fantrax.com is a game provider that has seasonal, weekly, and daily game offerings on its website. In 2012, it was selected as a finalist for the Fantasy Sports Trade Association Best League Commissioner Product. It also offers leagues for football, basketball, hockey, racing golf, soccer, and baseball.
Avatar Ventures Corp (ATAR: OTC US) is based in Carson City , NV, and currently seeking returns into high tech investments. As part of the signed deal, the two parties look to complete a definitive agreement by February 14, 2014.
FtSb says: Even in a growing ecosystem, the challenge will be how to able to grab a piece of the pie. In the world of the fantasy sports, it is a growing pie. However, with the number of game providers out there that also include some of the heavy hitters such as Yahoo! and ESPN, consolidation of the smaller groups is quite normal. The smaller groups in the fantasy sports ecosystem tend to be part of the disruptive technologies of daily games. But even in that group, there tends to be only a handful of companies that will survive.
