Fandex Inc. announced on Monday that the The United States Patent and Trademark Office (USPTO) granted him United States Patent No. 11,436,674covering the main aspects of its fantasy sports team and player scholarship“further strengthen the company’s intellectual property.”

In a press release, Matt D’Alessandro, CEO of Fandexsaid: “It’s a big moment for us here at Fandex as our team has worked hard since 2017 to create this patented platform, and we look forward to speaking with the iGaming market leaders to discuss licensing and other partnerships.

According to D’Alessandro, the patent covers the company’s new fantasy sports exchange and boosts “its competitive edge.” Fandex describes itself as “the first exchange” that allows fans to buy and sell virtual shares of their favorite teams and players in more than 12 sports during and off season.

We have additional patents pending as part of our intellectual property protection strategyand we will continue our innovation efforts to further strengthen our market position and drive revenue growth,” he added.

Stu MacDonald, Fandex Advisory Boardalso commented:We’re excited for our next paid World Cup contest with our European betting partner, as well as our regular season and post-season contests and partnerships with FanDuel, Sports Grid, PLZ and others.

Developed fandex a proprietary software application built on their algorithmic trading platform to account for variables such as price, timeframe, and volume. The algorithm assesses the value and market price of each team’s share within each major professional league or college conference.

Fandex software application takes into account team performance, schedule strength, margin of victory (including home advantage) and injury reports. When a team performs well, the price of its market share goes up, and when a team underperforms, its value goes down.