Not too long ago, ‘myth sports activities’ might have been dismissed by serious sports activities watchers as a distraction. Some even compared it to ‘making a bet’ – something rampant in the real sport. But the last 12-18 months have ushered in a new era for the fantasy sports (also known as e-sports) area. While China leads the world in informal gaming, India has topped the consumption of e-leagues.
Fantasy sports structures are where customers create imaginary teams and earn real coins based on the gamers’ actual performance. They can build teams by using their information about the game and by analyzing factors that include the participant’s fitness, shape, climate conditions, and past performances.
The increasing possibilities of earning money out of a passive intake habit have made fable gaming an unexpected rage. It makes all and sundry a ‘player’.
Part of the Singapore-established U2opia Global (which runs a couple of companies across media, telecom, gaming, and digital marketing), FanMojo was first released in 2017 under U2opia’s startup incubation program – Catapult. But, not until the middle of 2018, while it “reinvented” itself as a present-day myth gaming platform, FanMojo generated user interest.
Riding the myth gaming craze
Since then, the startup claims it has witnessed a 5x boom. There are 3+ million registered customers on the platform. About forty-five percent of these are month-to-month active customers, and a median session lasts 27 minutes – 2x boom in less than 12 months.
FanMojo says gamers have a 50 percent threat of winning on its platform. That is almost the enterprise wellknown. However, more recent media could surpass the determination because lesser players imply less opposition and better-prevailing probability.
Like all other e-recreation startups, FanMojo wallet 15-17 percent of participant profits. There are no ads on the platform yet, but customers can participate in paid leagues at a nominal price of Rs 25.
Sumesh, at the side of Ankit Nautiyal, co-founded U2opia Global (which owns FanMojo) lower back in 2010. It is supported by the worldwide funding arm of Kenya’s Comcraft Group.
Coming up are marquee tournaments like the ICC Cricket World Cup (which begins later this month), the English Premier League, the German Bundesliga, and numerous other sports fixtures in cricket, soccer, and kabaddi – the three sports enabled via FanMojo currently.
Growth potential and industry panorama
IFSG estimates there are about 20 million myth game enthusiasts in India. This is projected to go up to one hundred million throughout structures with the aid of the cease of 2019. (In 2016, this number was just a million.) The area is poised to grow to $5 billion in 2021. Validation for the industry got here a final month, with Dream11 turning into India’s first gaming unicorn.
Even though Dream11 occupies 90 percent of India’s e-game marketplace, startups like Sequoia-sponsored Mobile Premier League (which received 10 million users in approximately seven months), Nazara Technologies-sponsored HalaPlay, RummyCircle-owned My11Circle, and several others are now upping their ‘sport’.
FanMojo is also buzzing with interest in user acquisition, logo partnerships, promotions, tech investments, hiring, etc. The startup claims it is India’s “fastest-developing” fable sports activities platform. YourStory had no way to verify this, even though. There may be very few statistics publicly available, and agencies are generally tight-lipped regarding financial figures.
Earlier in March, FanMojo roped in Prithvi Shaw as its logo ambassador and hopes to grow platform visibility through this association. Shaw is India’s U-19 World Cup-triumphing captain and became ranked with the aid of the ICC as one of the five breakout stars of fellows’ cricket in 2018.