SinglePoint, a mobile marketing and payment technology company, is entering the fantasy sports market.

The company announced last week that it had signed a letter of intent (LOI) to acquire an ownership stake in daily fantasy sports company GoDraft.com, which allows players to win cash or credit on a range of sports including NFL, NBA, MLB and PGA.

According to the LOI, SinglePoint will buy out the daily fantasy sports company using “cash and restricted common stock. SinglePoint said GoDraft is the first of the many “contenders” that the company has identified for its DFS rollup initiative.

Founded in 2013, Hawaii-based GoDraft features “the only friends and private league features found in the daily fantasy sports industry,” allowing players to play either in private matches with family and friends or join the website’s public games.