Fandifi rewards fan engagement with an NFT-based gamification platform

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The success of Yuga Lab’s “Bored Ape Yacht Club” may have flown under the radar for people who aren’t ready for NFT yet, but Fandifi was paying attention. The Vancouver-based games and entertainment company is preparing to launch a gamification platform for fans of live sporting events, with the addition of NFT to its fan engagement rewards program.

Fandifi FDM, formerly known as Fandom Sports Media Corp, launched its first live version of the platform in January 2022. It was designed as a modular peer-to-peer sports betting platform, optimized to work both on iOS and Android mobile devices. Two quarters later, it is now clear that this was just the beginning. “Version One” created a demonstrable platform that showed the breadth of user experience Fandifi can provide fans streaming from defined sports and esports data streams.

Eric Ries fans should recognize the business model. It’s the classic Lean Startup 101. Fandifi has created a “minimum viable product” (MVP), launched to build a user base and test its business hypothesis, and is now moving into phase two. This is where this story gets exciting. Think of it as sports betting and social engagement on live events meeting Web3 technology.

NFTs are a key part of the new platform

Professional athletes and major sports league teams are no strangers to NFT technology in sports memorabilia. Tom Brady’s NFT platform, Autograph.io, received $170 billion in Series B funding earlier this year. Immutable, an Australia-based NFT platform has a current valuation of $2.5 billion. Even GameStop, the darling of meme merchants, has gotten into the game.

In October 2021, Fandifi partnered with Polygon, a blockchain framework to build and connect Ethereum-enabled blockchain networks. They decided to support efficient and scalable typing in their own NFT marketplace, a web3-based world called FandoMart. Add this piece to the MVP launched in January and you’ll start to see their vision.

Fandifi plans to capitalize on current engagement trends in live streaming, esports and live sporting events. Adding unique NFTs as part of a rewards program is a bonus for fans, but it’s also a tool for content creators to launch and trade their own NFTs in an interactive marketplace. The possibilities for collaboration are limitless.

Fans will also be able to take advantage of the NFT Market by creating their own NFTs of favorite moments during the live events they watch. They will be able to do this on the go and in real time, essentially creating a unique digital screenshot that they can market or trade. Fandifi claims that no other streaming platform currently has this capability.

AI prediction engine powers the gamification process

The underlying technology that makes all of this possible is Fandifi’s neural network-based prediction engine that invites fans to make real-time bets or predictions with friends or other live event watchers in the whole world. The company slogan is “Play, predict and be rewarded”. Fans who engage the most have the highest chance of earning rewards, including NFTs.

The new platform will allow viewers to play and predict a wide range of their favorite live and pre-recorded events including MLB, NBA, NFL, NHL and international football leagues. Additional content will include esports, movies, music, fashion, food, and more. According to Statista, the number of live viewers in the United States is expected to exceed 158 million in 2022.

Fandifi is moving quickly on this. The technology partnership with Polygon may have been finalized in October, but the technology has been in place for many years in the healthcare, telecommunications, insurance and supply logistics sectors. According to their internal schedule, the gamification and rewards components should be completed by the end of the second quarter of this year. Fans could have full access to all features by summer.

Monetization and Customer Acquisition Opportunities for Content Providers

The size of the addressable market that Fandifi is entering is huge. According to the GSMA (Groupe Speciale Mobile), there are more than 10 million mobile connections worldwide, including cellular IoT. About 5.5 million of them are unique mobile subscribers. From a macro perspective, these are all potential customers for the new platform.

Of course, Fandifi is “betting” on fans of live sporting events to be the primary users. Statista estimates the market size of the sports betting industry at $203 billion. It currently employs 197,000 people in more than 30,000 companies. The American Gaming Association (AGA) reported after this year’s Superbowl that 31.5 million Americans bet on the game.

Launching a fan engagement platform with an NFT-based rewards system and an AI prediction engine will create new monetization and customer acquisition opportunities for content providers. This includes marketing their own NFTs, offering premium subscription services, and connecting them to fan networks they may not have had access to before.

Blockchain technology makes Fandifi a player in the Web3 metaverse

New technologies are often difficult to grasp, slowing down investors and sometimes stalling the growth of otherwise promising companies. What Fandifi does does not fall into this category. Their platform is a combination of traditional sports betting platform, social media communication tools and NFT technology which is now widely accepted.

Even the neural network-based predictive engine poses no great mystery to interested parties. Predictive algorithms and augmented intelligence have been around for years. What makes this platform special is the blockchain-based NFT marketplace built into all of this traditional technology.

Is the time right? The Web3 revolution is well underway and the online gaming space has no participants yet. Fandifi maintains that it is positioning itself to be a pioneer in the space. Nothing is certain when it comes to technology, but this company believes it has the right roadmap and a plan to be something very different from what we’ve seen before.

Image from Unsplash

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investment advice.

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