Fantasy sports activities startup from Gurugram plans
Not too long ago, ‘myth sports activities’ might be dismissed by way of 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 brand new era for the fantasy sports (also known as e-sports) area. While China leads the world in informal gaming, India is stated to be topping in consumption of e-leagues.
Fantasy sports structures are in which customers create imaginary teams and earn real coins based totally on the gamers’ actual performance. They can build teams the usage of their own information of the game, as well as by analyzing factors which 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, now not until the middle of 2018, while it “reinvented” itself as a present day-day myth gaming platform, did FanMojo generate user interest.
Riding the myth gaming craze
Since then, the startup claims it has witnessed a 5x boom. There are 3+ million registered customers at the platform. About forty five percent of these are month-to-month active customers, and a median session lasts 27 minutes – 2x boom in much 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 platforms could surpass the determine. Because lesser players imply much less opposition and better probabilities of prevailing.
Like all other e-recreation startups, FanMojo wallet 15-17 percent of participant profits. There are no ads at 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 right now. 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 million.) The area is poised to grow to $5 billion by means of 2021. Validation for the industry got here a final month, with Dream11 turning into India’s first gaming unicorn.
Even 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’.
Earlier in March, FanMojo roped in Prithvi Shaw as its logo ambassador and hopes to growth platform visibility thru this association. Shaw is India’s U-19 World Cup-triumphing captain, and become ranked with the aid of the ICC as one of the five breakout stars of fellows’ cricket in 2018.